ABC reports Delta has a upped the maximum for a denied seat to $9950.
Delta OKs offers of up to $9,950 to flyers who give up seats - ABC News
Stupid move imho, it simply sets off a bidding war among the carriers.
Given the upcoming Senate interest, it would have been much better to work out an industry wide compensation agreement. That would have allowed the industry as a whole to point to a proactive response.
Absent that, I think they are all in the soup, because any inquiry into industry procedures will raise lots of questions.