Obama BP Meeting: Company Agrees To $20 Billion Escrow Account For Victims

It's used to pay claims for those financially injured by BP's negligence

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Maybe.



Maybe not.



It's an escrow account. All that it is is BP's putting money aside for determination as to where it'll go LATER. It could wind up going to BP's shareholders.



Not a dime of it will get dispersed without BP's consent.



And not all $20 billion is being put into the 'kitty' immediately. BP could be out of business within months, which would mean that all it paid into this account was $3.5 billion. BP's already spent $1.75 billion on this spill, the oil is still gushing uncontrollably; nobody knows what the ultimate price tag will be.
Read the Article at HuffingtonPost