Wednesday, December 29, 2010

Feeling For Kenneth Feinberg

If paying for 9/11 was a walk in the park, paying for the BP oil spill is the Tale of Sisyphus:
When Feinberg took over in August, he promised an array of changes that would speed payments and expand eligibility for compensation.

It soon become clear that one of his main promises, his pledge to pay fully documented claims within two days for individuals and one week for businesses, was too optimistic.

...In September and early October, Feinberg made two changes that led to a rapid increase in payments: He created industry-specific formulas for judging groups of similar claims, and he announced that he would no longer apply a geographic test to assess claimants' eligibility.

However, some claimants continued to report delays, and we reported that many applicants were unable to get basic information from Feinberg's operation about what was happening with their claims.

...Feinberg recently pledged another slate of improvements. He said he would implement his previous transparency promises within weeks by sending staff to the Gulf to assist claimants and that he would disclose to the public his methodology for deciding claims.

...However, some claimants are still struggling to get checks and to get answers about their claims, and it is unclear how far Feinberg's latest promises of reform will go toward easing their hardship.

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