Posted on 06/16/2010 7:51:07 AM PDT by an amused spectator
WASHINGTON — President Obama prepared on Wednesday to meet at the White House with top executives of BP, the company responsible for the catastrophic oil spill in the Gulf of Mexico, to demand that they set aside billions of dollars agree to pay claims stemming from the disaster in independently administered escrow account.
The chairman of BP’s board, Carl-Henric Svanberg, will be told at the meeting “that he is to set aside whatever resources are required to compensate the workers and business owners who have been harmed as a result of his company’s recklessness,” the president said in a televised address about the spill Tuesday evening...
(Excerpt) Read more at nytimes.com ...
He'll only be able to get such a large escrow from BP with illegal extortion tactics. Keep your eye on the ball.
The Chicago crooks line their pockets once again, in the name of the “oppressed,” of course.
They need to stand up to this idiot and tell him “You don’t own BP and you never will......back off.” The courts will handle this situation just fine if BP doesn’t come through. The President has no authority.......except to close down America’s wells and loose $16.5 Million a day.
Is it done yet? Is it much longer?
I hope for his opening volly the CEO of BP says, er Mr. pResident, I have here in my hand a certified copy of a genuine Kenyan Birth Certificate. Care to guess whose it is? Now then, you were saying??
And they will - without illegal Chitcago extortion tactics.
If they squeeze something out of BP quickly, you can rest assured that they did something illegal.
These companies have contracts and their liabilities are spelled out.
Dear Unions: Oil Money is on the way. "I Won". Invest in green....at least buy green shirts for all your members (You can up your dues to pay for them).
None of that oil should have ever made it to shore....and that's Obama's fault. He has a duty, too.
One of the panelists on Fox last night said the only way BP would stand for putting that amount of money into escrow would be for a guarantee of immunity, in other words, this is it, not one cent more. Meanwhile, whom is Ozero planning on getting to fix the blow out after he runs BP out of town?
How much is the magic question. And for what? I hope the brits stand up for themselves, here.
Hmmm the muslim in the whitehouse is going to tell Mr. Svanberg to set aside whatever amount the muslim thinks will be appropriate??? I guess when one is king of the univeres everyone must abide by his orders, no negotiations, just be given an order.sarc
Now the moratorium makes sense. The old blackmail routine.
What provision of law does this clown cite to dictate such terms?
American businesses, beware: this is a SINFUL, DANGEROUS, FASCIST PRECEDENT!!! IF HE GETS AWAY WITH THIS, IT WILL BE A SMALL STEP TO TAKE OVER YOUR BUSINESS!
I’m sure he will threaten them with criminal prosecution...but they have a duty to the shareholders to refuse...we’ll see.
I had the same thought, but wouldn't such an immunity would require an act of Congress? We're not a dictatorship -- yet.
“One of the panelists on Fox last night said the only way BP would stand for putting that amount of money into escrow would be for a guarantee of immunity, in other words, this is it, not one cent more.”
Perhaps. But I think that the potential fines are probably more of the issue. Up to $258 mil per day according to the article.
How’s this for a quid pro quo: BP generously contributes $20 bil to the SLUSH FUND, and the gross negligence charge is dropped. The potential fines are up to $17 bil or so right now, in addition to any damages.
I’d like to see where the Constitution authorizes that.
“We believe we have the authority to compel” creation of a compensation fund administered by a third party, David “Thugboy” Axelrod said on NBC.
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