If you thought that BP was going to suddenly come up with $20 Billion Dollars for compensation claims, then the JOKE IS ON YOU.
The New York Times is reporting that BP has an undefined "Several Years" to pay the money in to the fund that is to be administered by Ken Feinberg, Current "Pay Czar", and the mediator who oversaw the 9/11 victims compensation fund.
From the Times:
The agreement was not final and was still being negotiated when President Obama and his top advisers met Wednesday morning with BP’s top executives and lawyers. The preliminary terms would give BP several years to deposit the full amount into the fund so it could better manage cash flow, maintain its financial viability and not scare off investors.
