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The Newsroom - The White House confirmed Wednesday that BP has agreed to place $20 billion in an escrow fund to pay for oil-spill-related costs. President Obama also plans to appoint Kenneth Feinberg — an attorney with an extensive resumé as an arbitrator — to act as the administrator of the fund. Feinberg has been working as the government's "pay czar," overseeing executive compensation in companies that received taxpayer bailouts, and previously oversaw the distribution of payouts to families of those who died in the 9/11 terror attacks.
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