Kenneth Feinberg has been tapped to oversee the administration of a $20 billion fund for claims arising from the BP oil spill in the Gulf of Mexico, as detailed in today's New York Times article:
"The fund will be administered by Kenneth R. Feinberg, the lawyer and mediator who ran the fund for victims of the Sept. 11 attacks and has emerged as a troubleshooter on issues like executive compensation and resolving claims for asbestos and Agent Orange victims....Mr. Feinberg will segue into his new role as the fund administrator, perhaps setting up shop in Louisiana, just as he is nearing the end of his stint as the government’s “pay czar” overseeing executive compensation at the nation’s biggest banks, a post created in response to public outrage at bankers’ bonuses after the financial bailouts of recent years. Besides serving as special master for the Sept. 11 Victim Compensation Fund, he helped in cases involving compensation for victims of illnesses related to asbestos and to Agent Orange chemical poisoning, among many others."
With such an environmental tragedy on our collective hands, mediation is a key aspect to healing the people who are most affected by the oil spill. It's heartening to see our government making use of an expert mediator to help rebuild and clean up the spill.
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