Some deal. BP gets the gold mine and its victims get the shaft. And a few lawyers will get vacation homes - though they won't be so stupid as to build them on the Gulf Coast.
On Friday night, the judge-picked lawyers for 120,000 victims of the Deepwater Horizon blow-out cut a back-room deal with oil company BP PLC which will save the lawyers the hard work of a trial and save the oil giant billions of dollars. It will also save the company the threat of exposing the true and very ugly story of the Gulf of Mexico oil platform blow-out.
I have been to the Gulf and seen the damage -- and the oil that BP says is gone. Miles of it. As an economist who calculated damages for plaintiffs in the Exxon Valdez oil spill case, I can tell you right now that there is no way, no how, that the $7.8 billion BP says it will spend on this settlement will cover that damage, the lost incomes, homes, businesses and boats, let alone the lost lives -- from cancers, fetal deformities, miscarriages, and lung and skin diseases.
Real BP: It's coming back no need to bring sun tan oil we have our own
Only in New Orleans because he likes Popeyes
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