Bill,
Here is the crux of the whole problem:
Regarding Mr. Feinberg: "He has not committed to spending the entire $20 billion and has suggested previously that as long as he does his job there is nothing wrong with the idea of money being returned to BP."
Read more: http://www.sunherald.com/2011/02/04/2836407/us-to-feinberg-loosen-purse-strings.html#ixzz1DLUB8n8g
You know, in Table Games, people sometimes joke with us about holding on to the money. We always say, "It's not OUR money. We WANT to give it all away." That's the case here. This $20 billion does not belong to you, the gccf, or Mr. Feinberg. It is not government money coming out of the pockets of our fellow citizens. It's not even actually bp's money anymore. The whole amount was set aside for the express purpose of rebuilding and stimulating the economy of the entire Gulf Coast region. Yes, there is PLENTY wrong with the idea of ANY money being returned to bp. It should be spent to the last penny for its original purpose. When we hear a hoarding mentality coming from the very top, it's easier to see why all the minions are trying so hard to limit distribution. This whole process is going in the exact wrong direction, and is getting scarier every day.
By now, there are hundreds of comments posted on the proposed "methodology". Those who have written all are smart enough to clearly see the truth. You have hundreds of different people from hundreds of different backgrounds who are independently ALL coming to the same conclusions. Averaging is seriously wrong. The x2 factor is disastrously wrong. One well-compensated, non-independent teacher from Texas does not a case make, by a long shot. Business figures are very wrong. Stall tactics grow more egregious.
By the end of this "review" period, we will be almost three months out from the end of the Emergency Claims process. And we have nothing at all to show for it except an over-simplistic and badly botched "proposed methodology" that obviously couldn't have taken more than two days to write. You can clearly see why we have no confidence in gccf or anything they say. You can clearly see why so many people are so angry. All we see from our point of view is gross incompetence from top to bottom. And it really is so easy to fix. The committment MUST come from the top to spend ALL of the $20 billion as quickly and efficiently as possible.
Thank you,
---Brad McDonald...
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