BP Sets Up $20 Billion Claims Fund

Politico has announced that BP will set aside $20 billion to set up a fund for individuals who have lost income due to the Gulf oil leak:

BP has agreed to finance a $20 billion escrow fund to pay claims to people who lost income in the Gulf Coast oil spill, an administration source tells POLITICO. Lawyer Kenneth Feinberg, who was in charge of payments to families of victims of the 9/11 attacks, will oversee the fund.