Joe Barton calls BP 20 mil fund a shakedown! - Pensacola Fishing Forum

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Old 06-17-2010, 08:31 PM   #1
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Default Joe Barton calls BP 20 mil fund a shakedown!

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</p><p class="sub-head">To quote Bill Hicks "this guy must carry his balls around in a wheelbarrow."</p><p class="sub-head">These politicians say some really dumb S*&amp;*.
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</p><p class="sub-head">Bloomberg</p> <div id="story-body" class="clearfix"> BP?s Spill Fund a $20 Billion Shakedown, Barton Says (Update2)</h1> <span id="pubDate" class="date">June 17, 2010, 11:58 AM EDT <div id="inset"> <div id="AKrelatedItems"> <h2>More From Businessweek</h2> <ul>[*] Why Wal-Mart Wants to Take the Driver's Seat [*] How Craig McCaw Built a 4G Network on the Cheap [*] Oil Gushes From BP Well as Scientists Study Leak Size (Update2) [*] BP May Attempt to Plug Oil Leak With Mud Next Week (Update2) [*] Merkel Seeks EU Rules After German Short-Selling Ban (Update2) [/list] <div id="story-tools"> <h2>Story Tools</h2> <ul><li id="stEmail">e-mail this story<li id="stPrint">print this story<li id="stDigg">digg this<li id="stDelicious">save to del.icio.us<li id="stBX">add to Business Exchange[/list] <p class="indent"> (Updates with administration comment starting in second paragraph. See {SPILL &lt;GO&gt;} for more on the oil spill.)</p>By Jim Efstathiou Jr. and Jeff Plungis

<p class="indent"> June 17 (Bloomberg) -- Representative Joe Barton, a Texas Republican, said a fund BP Plc agreed to establish after meeting with President Barack Obama yesterday amounted to ?a $20 billion shakedown.?</p><p class="indent"> ?I?m ashamed of what happened in the White House,? Barton said today as a House Energy Committee panel began a hearing on BP?s Gulf of Mexico oil spill. The Obama administration called Barton?s comments ?shameful.?</p><p class="indent"> The London-based oil company agreed yesterday to Obama?s request to establish a fund to pay damages from the spill, and to temporarily suspend dividends as Gulf residents and businesses begin filing claims. BP said it will commit $20 billion to the fund.</p><p class="indent"> Barton spoke in opening statements before testimony to the committee by BP Chief Executive Officer Tony Hayward, in his first appearance before Congress since its oil well exploded.</p><p class="indent"> ?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,? Barton said.</p><p class="indent"> White House press secretary Robert Gibbs called in a statement for lawmakers from both parties to ?repudiate his comments.?</p><p class="center"> ?Big Corporations?</p><p class="indent"> ?What is shameful is that Joe Barton seems to have more concern for big corporations that caused this disaster than the fishermen, small business owners and communities whose lives have been devastated by the destruction,? Gibbs said.</p><p class="indent"> Representative Edward Markey, a Massachusetts Democrat, rebuked Barton at the hearing, saying he disagreed ?in the strongest possible terms.?</p><p class="indent"> ?It was the government of the United States working to protect the most vulnerable citizens that we have in our country right now, the residents of the Gulf,? Markey said.</p><p class="indent"> Hayward said in his opening remarks that the company will pay ?all necessary cleanup costs? of the spill.</p><p class="indent"> ?Right now, it?s simply too early to say what caused the incident,? Hayward said. ?A full answer must await the outcome of multiple investigations.?</p><p class="indent"> The CEO drew criticism from the panel for allegedly ignoring dangers at the Macondo well that exploded, creating the biggest U.S. oil spill.</p><p class="indent"> ?We could find no evidence that you paid any attention to the tremendous risk BP was taking,? Representative Henry Waxman, a California Democrat, said. ?There is not a single e- mail or document that shows you paid the slightest attention to the dangers at this well.?</p><p class="center"> Cracks in February</p><p class="indent"> Hayward, 53, who told the lawmakers he is ?personally devastated? by the spill and the death of 11 workers in the explosion, was warned through a list of advance questions to expect a rough reception from lawmakers. Before today?s hearing, lawmakers described five ?questionable decisions? by BP that they said the CEO should be prepared to discuss.</p>--Editors: Larry Liebert, Steve Geimann

To contact the reporters on this story: Jim Efstathiou Jr. in New York at [email protected]; Jeff Plungis in Washington at [email protected].

To contact the editor responsible for this story: Larry Liebert at [email protected].

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Old 06-17-2010, 08:56 PM   #2
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

IMO this is not a shakedown.

A shakedown is when you tell someone to give you money or you will do something to them. Or in essence blackmail.

This is not blackmail. This is not a shakedown. This is a response. It is the price that BP will have to pay for not responding quickly enough to paying people that have lost their incomes to the oil spill. Had BP settled claims quickly and efficiently(which is well within their ability to do albeit expensive), they would not have had this happen. This again is not blackmail nor a shakedown but a price to be paid for failing to do what you promised to do.
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Old 06-17-2010, 09:00 PM   #3
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

This is what makes me sick about today's politics. "The enemy of my enemy is my friend." This is all about Republican vs Democrat the hell with the taxpayers.

This kinda shit makes me want to throw them all out.
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Old 06-17-2010, 09:06 PM   #4
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

I can't believe he actually apologize to Hayward!
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Old 06-17-2010, 09:17 PM   #5
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

If someone has the opportunity to check Joe Barton's (and other's) political contributors, it is likely that he/they have taken huge amounts of money from big oil. We need serious campaign finance reform which might hold them more accountable to us. Twenty billion seems pale compared to what is happening in the GOM.
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Old 06-17-2010, 09:45 PM   #6
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

BP was his biggest contributor. 1.3 million dollars
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Old 06-17-2010, 09:59 PM   #7
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

Not sure of the details, but a news channel said he got more $$$ from big oil than anyone else on the comission. We have the best congress money can buy........what a shill! And an ass! I just hope the money starts flowing quickly to those in desparate need, due to the oil. BP was sure dragging their feet!
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Old 06-17-2010, 10:14 PM   #8
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

I just looked at some of the websites on evacuation and they appear bogus. Thanks for the $$ amount info Sniper and Flounderpounder.
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Old 06-17-2010, 10:17 PM   #9
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

Hey, and just think, thanks to the repeal of McCain Feingold that amount can go up by crazy amounts now, because Republicans want corporations to have freedom of speech. Of course it has nothing to do with freedom of speech they were just pissed because Democrats were for sale to Unions and they were missing out on those bucks. Now everyone of them can be for sale equally.....
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Old 06-17-2010, 10:30 PM   #10
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Default RE: Joe Barton calls BP 20 mil fund a shakedown!

The words hung drawn and quartered spring to mind, the crooked #%[email protected]% should be sitting there wearing a ski mask.
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