Obama is a buffoon with a law degree.
A very common mistake for non-lawyers is to forget you can not threaten criminal prosecution in a civil matter.
Obama, who could not practice law to save an ant, obviously does not know this or care. He is threatening the BP officials with criminal prosecution or pay up. He is using the surrogates to do the dirty work threat and then join them after the goombas have softened the BP execs up.
It is just a mob rough up without the brass knuckles.
The audience sees only the monkey on a string, the organ grinder is the real enemy.