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Neither of them had the money to pay him back, so he canceled the debts of both. Now which of them will LOVE him more?” Luke 7:42 The BP shakedown is the perfect example of the brainwashing of America. We have been transformed over the past 70 yrs into believing in an all compassionate gummit over capitalism. We have been taught from baby to grave into believing our govt is the only interest powerful enough to stand up to evil industry so the slaves can get their fair share of the pie when nothing could be farther from the truth....

WASHINGTON — A day after top BP officials met with President Barack Obama at the White House and agreed to set up a $20 billion compensation fund, Rep. Joe Barton, R-Texas called the money a "shakedown" of the company and apologized for the president's action. Barton, the ranking Republican on the House Energy and Commerce committee, told BP CEO Tony Hayward Thursday morning that he was sorry about what the president had done. The money is a "slush fund," Barton said, and "unprecedented in our nation's history." "I do not want to live in a country where anything a citizen...

When BP executives filed into the West Wing on Wednesday morning to meet with President Barack Obama, they were joined by at least one familiar Washington hand: former Clinton administration Deputy Attorney General Jamie Gorelick, who signed on earlier this month to represent BP in congressional inquiries linked to the massive oil disaster in the Gulf of Mexico. As one of the top lawyers in Washington and a former Justice Department official, it is no surprise that BP tapped Gorelick and her prominent law firm, WilmerHale, to do the nearly impossible: defend it against a deluge of legislative inquiries into...

Halting the $10 billion-a-year dividend, reducing investments in drilling and selling oil and gas fields will do enough to ensure the company’s financial stability, Chief Financial Officer Byron Grote said today. Credit swap contracts before the announcement showed investors pricing in a 39 percent risk of default within five years. “This move protects the long-term [blah blah freaking blah]"

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...