Government announces $1.4 billion settlement in Indian Trust case

[babsbunny]

http://indiancountrynews.net/index.php?option=com_content&task=view&id=8018&Itemid=1

Washington, D.C.12-8-09

After more than a decade of litigation, U.S. officials announced today that the federal government has agreed to pay $1.4 billion to settle claims that it grossly mismanaged Indian trust accounts.

The potential settlement, which must still be approved by Congress and the courts, would bring a close to the long-running Cobell Indian trust case, and would result in payments to roughly 300,000 individual Indian trust accounts. It would also create a program to consolidate ownership of Indian trust lands.

[3waygeek]

1. On tonight's All Things Considered...

they reported on this case, and said the settlement amount was $3.4 billion.

[eppur_se_muova]

4. There are two funds, one for $1.4bn and one for $2bn ...

A Settlement Agreement has been announced between IIM beneficiaries and the Secretary of the Interior, the Assistant Secretary of the Interior-Indian Affairs, and the Secretary of the Treasury in a long-running class action lawsuit, Cobell v. Salazar. The lawsuit claims that the federal government mismanaged individual Indians' trust accounts. Under the terms of the Settlement, the federal government will create a $1.4 billion Accounting/Trust Administration Fund and a $2 billion Trust Land Consolidation Fund. The Settlement also creates an Indian Education Scholarship fund of up to $60 million to improve access to higher education for Indians.

http://www.cobellsettlement.com/

[HiFructosePronSyrup]

2. But what about people who aren't Native American? Do they get thrown under the bus?

So much for change, Mr. Obama. There's a revolution coming. And we'll throw off our Native Americanist oppressors once and for all.

[WolverineDG]

3. Hopefully, the government will actually PAY it

about damn time that case was settled.

dg