Barack Obama’s pound of flesh: $20bn compensation and no BP dividends

Posted by Washington Post: Juliet Eilperin on June 16th, 2010
Guardian: Barack Obama wrung an apology from BP and an agreement for the oil company to make a $20bn down payment into a special compensation fund for victims of the Gulf oil spill today after a four-hour meeting at the White House. The payout is only the start of BP's pain. The White House was insistent that the $20bn (£13.5bn) was not a cap, and the company's chairman, Carl-Henric Svanberg, announced that BP would not be paying dividends this year. Svanberg's appearance at the White House was ......

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