Skip to comments.Is the BP $20 billion account a ‘slush fund’?
Posted on 06/18/2010 2:53:04 AM PDT by Scanian
During the opening statements at todays Energy and Commerce committee hearings on the Deepwater oil spill, Rep. Joe Barton (R-Tex.) made big news by calling the fund BP has set up to pay for the spill a slush fund. Barton was the first Republican to enter his remarks in the record and he began with an apology for BP CEO and the days witness Tony Hayward. Im ashamed of what happened in the White House yesterday, Barton said in his opening statement. I think it is a tragedy of the first proportion that a private corporation can be subjected to what I would characterize as a shakedown in this case a $20 billion shakedown.
Democrats want Barton to resign and Republicans are distancing themselves from their colleagues remarks but is the uproar because Barton is wrong or just because he spoke the truth so bluntly?
First, there are the details of the fund itself . And clearly among the considerations for setting up such a fund were political calculations by the White House. The deal
could help Mr. Obama revive his political fortunes, which have suffered amid complaints that he has been soft on BP and mismanaged the government response. The structure we are establishing today is an important step toward making the people of the Gulf Coast whole again, Mr. Obama said.
(Excerpt) Read more at nypost.com ...
Barton spoke the truth.
And while we’re on the subject of slush funds, where did all that so-called ‘Stimulus’ money go? Anyone?
How about the Cayman Islands.
that money is pure gravy.
The stimulus money that went to Sharia and Soros and
SEIU went to personal things ... as planned.
Is it a slush fund?
Is a dead pelican black and slick?
All too typical is the way 0 simpered his way vaguely past the detail -- ". . . $20 billion dollars in a fund to be controlled by a third party" or something to that effect.
This will be another funding source for buying votes more than it will be a fund for helping people recover from the oil disaster.
How about another promise to have a website where people can go to see an accounting of every dime that is spent from BP's fund? Oh, that scam has already been played and carnival hucksters try to avoid running the same game twice.
And before anyone picks up the point, I realize that referring to 0 as a carnival huckster is somewhat of an insult to carnival hucksters.
>> Barton spoke the truth.
— and then retracted it. @#$%^&*!!!
It’s a $20 billion dollar Trial Lawyer Enrichment Fund.
$20 billion is Obama “walking around cash.”
The 20 Billion really isn’t 20 Billion.
Republicans are distancing themselves from their colleagues remarks but in the name of bipartisanship are examining how the 20 billion will be distributed.
Hannity had someone from Fox Business news on his show earlier this week about the financial aspect of the oil leak. She reported BP does not have $20 billion. They have only $7 billion dollars on its balance sheet. The $13 billion dollar short fall will have to be paid for by the taxpayers.
20 billion is what Jamie Gorelick has decided is needed to keep the details of the Obama Administrations relationship with BP off the MSM agenda from now until the the fall elections.Nothing more...nothing less...
Not true at all. They are going to float a bond for some and borrow from banks for the rest.
I dont expect that cash to reach anything but democrat hands until its disposed of..its probaly the campaigne funds. It certainly wont cover the cost of damage and job loss obama policy is causing.
In the state of NJ, investigative news reports say $14.5B stim just disappeared......as incumbent Dem gov (an ex-Goldman Sachs head) was trying for reelection. The Dim lost even after Biden/Ohaha came into the state several times and pricey Ohaha ads ran relentlessly on NY media.
Mother Jones mag reported the real amt of the bailouts was $14 trillion --- the $750 TARP was just a diversion.
SO HOW DID GANGSTER GOVERNMENT SCAM TRILLIONS? PROBABLY LIKE THIS (the Madoff MO): Creating a labyrinth of interrelated international funds, institutions and financial entities of almost unparalleled complexity and breadth......with assets and businesses in miltiple places overseas that hid thievery, money launderering and tax evasion.
The buzz is Ohaha appointed Biden "point man" for the $20B BP shakedown. Biden apparently told BP execs, "give us $20 billion or we'll take it from you."
The person to watch like a hawk when there's $20B floating around is Biden. Keep in mind Obama put Biden in charge of the $2 trillion stimulus pkg and that millions in stimulus is being hidden in the states for endangered Dems (then wire-transferred offshore?)
Offshore fraudster had links to fund run by relatives of Biden
Reuters on Yahoo.com | 2/23/09 | BY Ajay Kamalakaran
EXCERPT --- A fund of hedge funds run by two members of VP Joe Biden's family was marketed exclusively by firms controlled by Texas financier Allen Stanford, charged by regulators with an $8 billion fraud, the Wall Street Journal said.
The $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity, and was known as the Paradigm Stanford Capital Management Core Alternative Fund, the paper said.
Stanford-related companies marketed the fund to investors and also invested about $2.7 million of their own money in the fund, the paper said, citing a lawyer for Paradigm.
Paradigm Global Advisors is owned through a holding company by the vice president's son, Hunter, and Joe Biden's brother, James, according to the paper. Paradigm's attorney, Marc LoPresti, who represents Hunter Biden and James Biden, as well as Paradigm, told the paper he did not know which Stanford entity invested the roughly $2.7 million. He told the paper the Bidens never met or communicated with Stanford.
(waiting for hysterical laughter to die down)
At least half a dozen people in the Obama admin are going to walk away from Public Service living like the Sultan of Brunei.
Republicans made Joe Wilson apologise too, but Joe was right, Obama lied.
Republicans have no courage. They fold up like a cheap suit.