It is the largest criminal damage payout in US history, over 3 times larger that the previous one ($1.3 billion from Pfizer).
The company will plead guilty to felonies relating to the deaths of 11 workers.
2 company employees are to face manslaughter charges.
The amount is less than the profits BP made last quarter ($5.5 billion).
An interesting point: If Romney had won the election would we be hearing about this now?
BP to pay record fine in Gulf oil spill; 2 to face manslaughter charges - CBS News
BP waived a $75 million cap on its liability for certain economic damage claims under the 1990 Oil Pollution Act, though it denied any gross negligence.