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Monday, May 3, 2010

BP settlement seeks to limit coastal resident claims for damages to $5000


The Buzz: BP PLC said Monday that it will pay for all the cleanup costs from a massive oil spill in the Gulf of Mexico that could continue spewing crude for at least another week. Meanwhile, chief executive Tony Hayward said Monday that chemical dispersants have worked to some degree to keep oil from flowing to the surface, though he did not elaborate. He said on ABC's "Good Morning America" that the new approach seemed to be having a significant impact.

The Nausea: Over the weekend, news emerged that BP was circulating settlement agreements among coastal residents of Alabama and possibly other states, essentially requiring that "people give up the right to sue in exchange for payment of up to $5,000," the Alabama Press-Register reported. Alabama's Attorney General Troy King protested and asked BP to stop distribution of the letters.

So let's unleash the bean counters and the lawyers to cheat the working folks out of their living. The La AG might not be able to do much about this mess directly, but I suspect the federal AG can make a splash, and let's hope she does.

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