Feinberg Is Gulf Coast's $20 Billion Man

By Rob Sanna - Talk Radio News Service

Attorney Ken Feinberg, who was recently appointed to monitor the Gulf Coast Claim Facility, told the House Judiciary Committee Wednesday he plans to overhaul the way compensation is being conducted in the Gulf. Feinberg said he plans to tackle the situation by implementing changes that would make compensation faster, more accurate, and more transparent to eligible people affected by the spill.

“Yes the process has to be much quicker, we will accelerate it. It must be more transparent,” he said.

“The data…is inadequate, does not provide proficient sunshine on how BP has been processing claims, we will do a much better job.”

Pledging his independence from the federal government and BP, Feinberg said he plans to establish a centralized claim center, beef up a staff of adjusters and be a constant, visible figure for Gulf Coast residents.

“This is an independent, private program,” he said. “I’m not beholden to the Obama administration. I’m not beholden to BP. I’m an independent administrator calling the shots as I see them.”

Feinberg said the administration will take fraud very seriously and plans to work with the Department of Justice to ensure the legal integrity of the program is not compromised.  

Feinberg also said he would make sure claims involving injuries incurred during the cleanup, as well as the the Deepwater Horizon rig explosion, will be claimable within the program and that injuries that develop further down the road because of exposure to oil could be claimed at that time as well.

“My agreement I have between the administration and BP, at least at the present, I am dealing only with individual and private business claims, no government,” he said. “That might change, but right now that’s the limit of my jurisdiction”