Saturday, June 26, 2010

Feinberg Meets With Gulf Coast Residents

Kenneth Feinberg, in charge of administering the BP money to gulf coast residents, has a tough job. A lot of people are lined up with valid claims and a lot of greedy people are lined up trying to take away money from those with valid claims. Feinberg says it will take 30 days to get claims paid. This summer, Feinberg will stop being the "pay czar" to focus solely on BP claims administration. Feinberg has been supervising executive pay of companies that were bailed out, including AIG, GM and Chrysler.