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.
...more (w/video)...
(Excerpt) Read more at newsbusters.org ...
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.
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