BP is to put money over several years into an escrow account. It would be administered by Kenneth Feinberg, the attorney now in charge of executive pay under TARP. The Obama administration has reached a preliminary agreement with BP executives that would see the oil company pay $20 billion over several years into an independently controlled escrow account to be established to compensate Gulf of Mexico residents affected by the disastrous oil spill.

Topics:  kenneth feinberg   tarp   the obama   bp   mexico   agree   company   oil spill   pay billion   years   account   escrow   
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