Of course it was a shakedown. It’s the Chicago way.
Rep. Joe Barton (R-TX) apologizes to BP for the Barack Obama’s “20 Billion Dollar Shakedown.”
Well said, Congressman:
Texas Rep. Joe Barton apologized to BP officials today for Obama’s “$20 billion shakedown.”
The AP reported:
A leading House Republican accused the White House Thursday of a “$20 billion shakedown” of oil giant BP by requiring the company to establish a huge fund to compensate those hurt by the Gulf Coast oil spill.
Rep. Joe Barton made the assertion at the outset of a House hearing where BP’s chief executive officer, Tony Hayward, was appearing for the first time before Congress.
Facing Hayward at the witness table, the Texas Republican congressman said, “I’m ashamed of what happened in the White House” on Wednesday. Barton was referring to the agreement that President Barack Obama announced with BP for establishment of a $20 billion relief fund.
Rep. Ed Markey sharply disagreed with Barton.
More… Glenn Reynolds added this:
SHADY MANEUVERING: An Offer BP Couldn’t Refuse. “Last night on CNN former Clinton Administration message man James Carville said: ‘It looks as if President Obama applied a little old-school Chicago persuasion to the oil executives.’ Making ‘offers you can’t refuse’ may be a great way to run the mob, but it is no way to run a country.” I agree. Let BP fail if its liabilities exceed its assets — don’t turn it into a government-controlled slush fund.
The Foundry called it, “An offer BP couldn’t refuse.”
