The Fix Is In: Overseeing the Payouts to Boeing Crash Victims’ Families: The Appointment of Kenneth Feinberg | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

The Fix Is In: Overseeing the Payouts to Boeing Crash Victims’ Families: The Appointment of Kenneth Feinberg

Feinberg played a similar role when he was selected in July 2019 to head the $50 million Boeing Financial Assistance Fund. In that role, he oversaw payments of a mere $144,500 to each family that lost a loved one on either the crash of Lion Air Flight 610 in October 2018 outside of Jakarta, Indonesia or Ethiopian Airlines Flight 302 in March 2019 near Addis Ababa, Ethiopia.

In total, Boeing has pledged only $100 million to compensate the crash victims’ families and neighborhoods for putting their friends and relatives on the deadly Max 8 jets. For comparison, the company reported revenues of $76.6 billion in 2019 and has pledged to pay airlines at least $5 billion for their lost profits resulting from the two crashes. To date, no executives at the company or regulators at the Federal Aviation Administration, which were all aware of the deadly flaws in the Max 8, have been prosecuted or even charged for the murder of the 346 men, women and children who were killed.

The selection of Feinberg to oversee both funds was approved by Boeing’s executives with good reason. As Wall Street’s preeminent corporate “fixer,” he has repeatedly been called upon to protect the interests of the country’s corporate and political elite. In recent times, he has chaired an escrow account to minimize compensation to victims of the September 11, 2001 terrorist attacks in the US. He was also chosen by the Obama administration as its “pay czar” to ensure that the heads of bailed-out Wall Street banks received multi-million-dollar bonuses in the wake of the 2008 financial crash.

Feinberg’s chief responsibility will be to ensure that whatever money Boeing does eventually pay out is vetted in such a way that the corporation will ultimately be absolved for manufacturing lethal airplanes. While Tim Keating, the Boeing executive who is overseeing the funds, has stated that Boeing is “empower[ing] the [crash victims’] families to decide how to allocate these funds,” a press release on the Community Investment Fund makes clear that “governments and other interested parties” will have the final say.

This is not the first time Feinberg’s services have been employed to minimize damage to major manufacturers in the wake of their criminal negligence. He was hired by General Motors in 2015 after it was exposed that the automaker hid an ignition switch fault in low-end GM vehicles that killed at least 169 people. Under rules set by the Obama administration, Feinberg rejected 90 percent of the claims submitted against GM for the company’s criminal negligence, saving GM several billion dollars in liability costs.

Webmaster's Commentary: 

Sounds as though Boeing execs knew precisely what they were doing here; the guy is a corporate "fixer", par excellence.

The man's mantra is "Screw the victims; protect the corporations which hire me.", which is a very attractive, comforting credo to all those who have hired, and will hire, this guy, or people like him, in the future.

He is one of many in the "dark underbelly" of American corporate power, and most assuredly has has his conscience surgically removed, before he began his quest for personal profits at the expense of people who have been,and will continue, to be marginalized by major corporations which have failed both their stock-holders, by pushing inferior, death-inducing products, as well as the American people, who trusted these corporations with their lives, and the lives of their families.

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