EXCERPTS:
"The $20 billion escrow fund that Obama pried out of the BP treasury at the White House when he talked for the first time, 57 days after the rig exploded, with BP Chairman Tony Hayward. It's pleasing to think that those injured by BP will be paid off speedily, but House Republican Joe Barton had a point, though an impolitic one, when he called this a "shakedown."
For there already are laws in place that insure that BP will be held responsible for damages and the company has said it will comply. So what we have is government transferring property from one party, an admittedly unattractive one, to others, not based on pre-existing laws but on decisions by one man, pay czar Kenneth Feinberg.
Feinberg gets good reviews from everyone. But the Constitution does not command "no person . . . shall . . . be deprived of life, liberty or property, without due process of law except by the decision of a person as wise and capable as Kenneth Feinberg." The Framers stopped at "due process of law."
Obama doesn't. "If he sees any impropriety in politicians ordering executives about, upstaging the courts and threatening confiscation, he has not said so," write the editors of the Economist, who then suggest that markets see Obama as "an American version of Vladimir Putin." Except that Putin is an effective thug.
Read more at the Washington Examiner: http://www.washingtonexaminer.com/politics/Obama_s-thuggery-is-useless-in-fighting-spill-96684389.html#ixzz0rV59clR2
