It’s quite interesting to watch the media come out of their collective swoon. The clip here is really stunning coming from Olbermann and Matthews, though less so of Fineman.
Some concrete news just breaking (3:04 pm eastern) from Politico is that BP will pay“no further dividends to shareholders this year.”
The White House also says that BP has “tentatively agreed” that the oil company willcreate a $20B fund to pay claims. “Pay czar” Kenneth Feinberg who mediated the 9/11 victims fund will reportedly administer it. As an aside on one other matter covered in the article linked above, I honestly don’t know how the Administration can legally compel BP to pay the lost wages of workers laid off due to the federal offshore drilling moratorium in the Gulf. It seems like a preposterous gambit on the Administration’s part, especially when it comes with the backdrop of Obama’s offshore drilling policy, which Interior Sect. Salazar set into motion, unleashing more acreage for drilling than ever before, while okayi