Skip to comments.CNBC Reporter Attacks Obama for Creating 'His Own Sense of a Legal System' over Oil Spill
Posted on 06/16/2010 2:33:53 PM PDT by Rufus2007
There has been a lot of criticism hurled at President Obama over his handling of the BP oil spill. Some on the left are upset the president hasn't been more forceful with the oil giant. Those on the right generally argue Obama's leadership has been inadequate.
Rarely has the president been criticized for specific actions on this issue. But on "Closing Bell" June 16, CNBC's Matt Nesto was asked whether BP acted appropriately by agreeing to the White House's terms by cutting its dividend payments and agreeing to a $20 billion escrow account.
Nesto argued that the administration was circumventing the legal system with such acts.
(Excerpt) Read more at newsbusters.org ...
Why would circumventing the law with a made up reparations system bother someone on the left.
circumventing? We don’t need no stinkun law when we got us a dictator.
It’s the Ogabe way.
really but obamer has been making up the law all along.
i have argued that the administration was circumventing the legal system with such acts.
no checks and balances
Maybe the deal capped the liability as well at 20B.
Senor Chavez does it all the time. What’s the big deal.
If I were a BP stockholder, I would be furious. They have not determined the exact cause for the explosion nor if the leak has been fixed and whether or not they can salvage some of the oil.
Are the “BP brass” in the room looking for a job with this administration or something?
The number 1 priority should be cleaning up the mess, not creating some slush fund for this administration.
Nope. Barry said it could be more. No cap.
Because he’d much rather see sharks fed and courts clogged for years before any Republican gets at that money.
Sheesh, if we’d had to litigate the Katrina disaster before anything could be done, New Orleans would still be full of water.
Looks like MSNBC/CNBC are finally realizing that criticizing this clown helps ratings/ad revenues.
Bp Shareholders WILL get to vote on removing the leaders that agreed to not see Ogabe in court. I already bailed out might buy back when its a penny stock.
Duh, looks like a “mess slush fund” to me. Haven’t Louisiana and other states been bitterly complaining about lacking money to deal with the disaster?
When this reporter is canned by cNBC for not bowing at the altar of Obama regarding his handling of BP, will he be eligible to get money from the $20 billion fund to cover his lost salary?
I wonder how long it'll be before some of his sealed past conveniently starts to leak out?!
Obama already thumbed his nose at the legal system with Chrysler and GM, and I didn’t notice any of the talking head complain about that.
He even closed all the Chrysler dealerships that were owned by Republicans, and got away with that, too.
In Allan Bloom’s “The Closing Of The American Mind” I learned that what has swept through our country is an abandonment, a rejection of the old right-and-wrong morality, in favor of an “individual value system” which is adopted, invented or developed in each person. What we’re seeing is Obama’s value system.
It came from nineteenth century German existentialism and has spread through our college staffs. I think the New World Order elites use this system, too.
Yeah, it’s playing god. (small g?)
I think I realize that all of these bast*rds are in it together. BP gives in to this extortion which in essence gives Obama campaign money to work with.
If I owned BP stock I would be furious.
Then you have Obama asking for another 50billion in campaign money from the taxpayer to go to local govt to keep democrats on the job...
This is the Chicago way of doing things..
I’m sick to my ears with this guy.
I’m praying tomorrow for -22 or more and to hit all time highs by the end of the month.
This guy is a phony. Everyone on this forum has known this from day one. People like Peggy Noonan who adored the guy are finally coming around.
He’d been an empty suit, a shyster from day one...
The quicker he falls so we can usher in real leadership the better....
Now I’m going to pour myself a nice Jack Daniels on ice...the rest of you can chit chat all you want on this loser...
Looks to me like Obama is very desperately (and with MSM support) trying to create the illusion of a great political victory. The fact is that BP has paid out millions in claims already, has set up an expedited process for claims and has even already established an “outside” appeal forum to adjudicate disputes regarding same.
When I read what BP says about it (http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7062966), I get a different picture than Obama’s “ass-kicking” stance. BP has said all along they did not consider themselves limited by the $75 million cap our government so imprudently left unchanged since the Exxon Valdez event. The money they will “set aside” over the next 3 1/2 years is probably their idea of something approaching their ultimate liabilities anyway (and if its too much they get the remaining amount back). The White House PR on this is just boob bait for the bubbas ...
Wake up Man! The law is whatever Obama says it is.
Or so they say. Who knows who tells Feinberg what to do.
It is a fair point and exactly on target. BP is in a bad situation.
What would public opinion have been if BP had refused? What would be the cost of the backlash? What rumors of bankruptcy etc. flying around....
It was White House black mail that happened today.
Just how the decisions will be made and by exactly whom is yet to be decided. This guy will run the organization. I doubt he’ll be deciding whose boat gets painted and whose doesn’t ...
Nothing like shaking down major companies for cash just like they have done with the American people.Evil government crooks at work and much worse than any MOB!They should be in jail for blackmail!
The Kenyan Clown has been a shakedown artist since his community agitator days.
Yeah...they’ll have layer and layers of people so no one can track quid pro quos.
This is an imperial presidency far beyond anything Richard Nixon imagined.
Once it is OK for companies to held up for reparations to the "public" (the public in this case is really the government, who will determine who amongst the public gets a cut) for their actions, not just for a cleanup but for financial harm or inconvenience then Katy bar the door.
This is one essential ingredient of fascism...that political rulers can shake down private companies, regardless of the law.
That would also be illegal since Congress passes laws regarding the caps of liabilities in the Gulf. The prez is not allowed to legislate, at least until now.
The “us” government is nothing short of lawless.There is no law in amerika but mob law.
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Would you be as furious as a secured creditor of Chrysler or GM? He’s done it before.
That would most certainly happen without BP involvement. We have yet to see just what that involvement will be, however...
Just change “dictator” to “dick taster” and you have obama’s hidden past...
Yeah all the laws went out the window on the GM and Chrysler bankruptcy when the Baraqqis torched the bondholders in favor of the UAW.
If we can elect a Rep majority in the House in Nov, they will spend the next two years investigating all the wrongdoings.
Thats what I am wondering as well. Supposedly it has been reported that BP was putting up 20B to settle claims last week.
If BP did infact cap their liability at 20B they may have save hundreds of Billions in Litigation costs and settlements.
IT only took 20minutes to discuss. BP had to get something in return. They still have a board of directors and stock holders to answer to as well.
Headman, Dear Leader, and Chief Asskicker by the Divine Right of Marx.
Obama wants to get his hands on the inevitable trust fund as a perpetual self funding community organizer slush fund.
Obamacrats will kneecap the BP execs who do not go along.
who are the trustees/fiduciaries of the trust?
how long will the trust last?
is this like the NY toll system?
Just like Jessy Jagson. He must have taken lessons from the Revvvverrrron.
Like, for example, when do they get the expense for the fund (which will take 3 1/2 years to fund)? Wanna bet its immediate?
And, as some one else asked elsewhere, what are the full details of the fund provisions and just how will claims be processed?
“Would you be as furious as a secured creditor of Chrysler or GM?”
HECK, YES!!! I’m furious over his agenda to kill the private sector overall.