The NYT is reporting that President Obama will address the Nation during prime time Tuesday evening. The article states that the President will outline his plans to have BP establish an escrow account to ensure that funds will be available for current and future claims against BP. This is "breaking" so I don't have a lot of information to add.
"Tu" (for 'Tuesday') in original title changed to 6/15 for clarity. Si se puede!
The article in the NYT does not provide great detail, and I am not a lawyer, but I suspect that addressing the legalities of which BP funds are available for escrow (e.g. payouts for profit versus pensions that employees have paid into for years), has been complicated. There may also be ways of ensuring that bankruptcy on the part of BP cannot interfere with efforts to provide compensation for both clean-up and individual claims.
Let us all hope that not only will BP be held culpable, but that rigorous regulations and enforcement will be addressed, along with funding for alternative energy resources, and how clean up will commence will be covered too.
I know this isn't much of a diary, and I will be happy to delete it when someone with expertise can flush out the info I cannot. I didn't see this info on the front page or in the diaries, so I wanted to get it out.