Page 8 - Escrow Fund News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Interest for b.p. to be a strong company. obama administration wants b.p. to pay off the claim and maintain strength as a company. that's partly why they helped set up the escrow fund to create certainty for investors to make the stock prices go up again. they don't want the company to fail. it's absolutely in our interest for the company to stay strong, but it is also in our interest to make sure that the companies doing inherently risky activity like deepwater drilling are held responsible for it. >> brian: peter, once again, is there a concern, though, that b.p. as a weakened company might ...

We know to date one of the things that the government has done is establish a $20 billion escrow fund for people impacted by the spill. do you think that was the right thing for president obama to do? >> i think there is more drastic measures he could have taken. this is a measure that bp has been willing to go along with. bp has agreed it will continue to pay those claims as long as it needs to and neither a floor nor a ceiling. it's good to have bp and the government working hand in hand on this issue. >> do you think the obama administration has done enough to stop the spill? >> i think it'...

Claims and our clean-up efforts will not come at any cost to taxpayers. to those affected in your families, i'm deeply sorry. >> oh, and so are the fishermen that aren't getting paid. i had my doubts about this and i was talking about it weeks ago. they've got this $20 billion escrow fund supposed to help out and pay all these people. guess what, it means nothing unless you know how to use it. of course, compensations are ken feinberg, he said it was going to be relatively an easy and simple process. it sounded to me just too good to be true. how can the process work when bp is giving all kind...

One question you were asked is b.p. paid out $130 million in claims already. does that count on the $20 billion? here is what you said wednesday before the house committee. let's look. >> i think the $130 million that has been paid out so far is not part of the $20 billion. that has been paid by b.p. separately, independent of the escrow account. i think that's right. i think that's right. >> major: do we know for sure? can we resolve it? what is the situation, what is the $20 billion, do they comix? >> $130 million has been paid out and it is not part of the $20 billion escrow fund that is be...

Being paid out for six or eight weeks. >> $130 million has been paid out. it's not part of the escrow fund that we've seat up as we speak to be used to pay claims. >> that fund has not been paid down in anyway. >> correct. that $20 billion is still? the tank which is good news. that was major garrett filling in on "fox news sunday." >> got a lot of the answers that we talked about. those were all questions hanging out there for feinberg and major garrett got the answers. >> let's see what's happening overnight. vice president joe biden is urging eye leaders to set aside their differences and f...