BP agrees to finance a $20 billion fund

By ASSOCIATED PRESS
June 16, 2010 20:00

WASHINGTON— BP has agreed to finance a $20 billion fund to pay the claims of people whose jobs and way of life have been damaged by the devastating oil spill in the Gulf of Mexico, senior administration officials said Wednesday.

The independent fund will be led by lawyer Kenneth Feinberg, who oversaw payments to families of victims of the Sept. 11, 2001, terrorist attacks, the officials told The Associated Press.


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