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Getbig Main Boards => Politics and Political Issues Board => Topic started by: 240 is Back on June 13, 2010, 09:52:56 AM
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He wants to make them put an assload of $$$ into an account - preventing them from spending all their $ in cash-front-heavy bonuses and dividends to empty the piggy bank before fines are assessed to pay for all the damages.
A good idea?
Obama wants BP to establish spill escrow account
Source: Reuters
Louisiana (Reuters) - President Barack Obama will press BP executives this week to set up an escrow account to pay damage claims by individuals and businesses hurt by the Gulf of Mexico oil spill disaster.
U.S. | Green Business | Gulf Oil Spill
The move comes as Obama, who will address the nation about the spill on Tuesday night, faces questions on his handling of the disaster, which has now dragged on for 55 days. Millions of gallons of oil have poured into the Gulf since an April 20 offshore rig blast killed 11 workers and blew out the BP well.
A U.S. official told Reuters on Sunday that Obama also will call for an independent panel to administer the payments when he meets Chairman Carl-Henric Svanberg and other BP officials at the White House on Wednesday.
The Politico newspaper, which first reported that Obama would discuss the escrow account, quoted an official as saying the president would "make clear that he expects, and that if necessary will exercise his full legal authority to ensure, that BP sets aside the funds required to pay individuals and businesses damaged by this massive spill."
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I guess it depends on how you view Obamas' intentions here.
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there is an account with the government that all oil industries are mandated to pay into , it was started in the mid 80s, and was intended for this type of accident, but obama will not access it.
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there is an account with the government that all oil industries are mandated to pay into , it was started in the mid 80s, and was intended for this type of accident, but obama will not access it.
Obama's actions so far as classic Cloward & Piven tactics.
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yea but people just dont want to believe that , or they do and it is what they support . too bad more people will not read that book, I guess many people believed obama when he said that info is a distraction.
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You should see some of the facebook wars I get in with people who otherwise seem like reasonably well informed citizens. NOT!
One moron is still claiming Obama is an esteemed constitutional law scholar. I asked what law review articles he ever wrote, what cases he argued, what textbooks he edited or authored, like any constitutional law scholar is usually required to do and I got the nastiest crap back at me.
Like Bill Clinton said of Obama - he is a fairy tale at best.
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all over the country all the people i have ever talked politics too they hate him, think he is a liar, and many say that they believe he wants the down fall of traditional america, I told a woman once that i dont know where all his supporters are , she said( go to the welfare office, jail, county hospital, and social security office) it was fucking hilarious
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I work elections every 4 years for vote fraud, etc and have been to the Bronx, Brooklyn, Jacksnoville, FL, Pittsburgh PA, Westcher NY, etc etc.
You have no idea the zombies that are out in full force on election day canceling out your vote. Its awful.
2000 was the worst though since i was in the South Bronx when Hillary ran for Senate. I went home and wanted to cry seeing the vermin out there in full force for Al Gore.
Lines and lines of people:
1. People who didnt know a word of English
2. Nursing home people drooling on themselves
3. AFL CIO - "Street Teams" everywhere with whistels, street jackets, etc.
4. Endless lines of welfare bums screaming about racist republicans.
All canceling out the votes of hard working taxpayers.
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that doesnt surprise me , nothing does from these progressive scumbags
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Yup - BP - just stick $13 trillion in this account for us....
Nice try Oby
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there is an account with the government that all oil industries are mandated to pay into , it was started in the mid 80s, and was intended for this type of accident, but obama will not access it.
that fund should be a LAST CASE scenario.
i'd much rather empty BP's coffers first, before we start digging into emergency rainy day funds. Chances are, when this thing destroys the entire eastern seaboard industries for a decade, the bill will exceed their total anyway :(
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its not a rainy day fund , it is for exactly this situation!!! it could be being used to keep the small businesses afloat while bp gets the spill taken care of, then when its all done send bp the bill, but in the mean time stop distracting bp with all this political bullshit and let them take care of the spill
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its not a rainy day fund , it is for exactly this situation!!! it could be being used to keep the small businesses afloat while bp gets the spill taken care of, then when its all done send bp the bill, but in the mean time stop distracting bp with all this political bullshit and let them take care of the spill
Sooo you are okay with BP paying their CEo bonuses BEFORE they are handed the Gulf bill?
Just how big is this rainy day fund you mention?
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if bp cant opperate and has no stock holders and no money how are they going to clean the spill, how they going to stop the spill, how they going to start paying claims if the stock holders pull out and they file bankrupcy????? as for the size of the fund i have heard from multiple members of congress that ranged from 2b to 5.12b but i dont want to say a certain number for sure without knowing for fact, but i do know that this is the worst oil spill in american history and this fund was started for situations just like this
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if bp cant opperate and has no stock holders and no money how are they going to clean the spill, how they going to stop the spill, how they going to start paying claims if the stock holders pull out and they file bankrupcy????? as for the size of the fund i have heard from multiple members of congress that ranged from 2b to 5.12b but i dont want to say a certain number for sure without knowing for fact, but i do know that this is the worst oil spill in american history and this fund was started for situations just like this
Gotcha. Personally, I'm okay with the govt taking that bitch over, if they decide they can't pay their bills. Not, "let's use federal funds and leave BP alone". That's just me though.
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Gotcha. Personally, I'm okay with the govt taking that bitch over, if they decide they can't pay their bills. Not, "let's use federal funds and leave BP alone". That's just me though.
240 - what do you think about Obama turning down the skimmers from the Dutch?
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i never said leave bp alone, however let them concentrate on cleaning and stopping the spill first, they cant do that if their stock holders all pull out . Every oil company that operates in or off american coasts pays into this account so its not like it isnt part of bps money anyway
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240 - what do you think about Obama turning down the skimmers from the Dutch?
a complete dumbass move. he should have skimmers from anyone that offers!
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Gotcha. Personally, I'm okay with the govt taking that bitch over, if they decide they can't pay their bills. Not, "let's use federal funds and leave BP alone". That's just me though.
THATS why your a communist.Perhaps you could show me in the constitution where we give the government the right to seize companies.
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THATS why your a communist.Perhaps you could show me in the constitution where we give the government the right to seize companies.
I'm for accountability!
If a company costs americans $50 billion in damages - they should have to pay it.
IMO, letting them get away without paying = socialism at its worst. If they can't pay their bill - then fuccck them!
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what the gov dont realize is that the onset of all these suits and threats and everything else, it scares bp share holders. if the share holders pull out then bp has no money to stop or clean the spill, then guess what, we the tax payer foot the bill for another private company hired by our gov to do what bp should do. So let bp stop and clean the spill, use the money out of this account that all oil companies pay into to keep the small business in La, Al and Fl operating, then once bp has stopped the leak and cleaned as much as possible, then start with the law suits and threats and blaming and all the political bureaucratic shit, and if bp stock holders pull out then fine.
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I'm for accountability!
If a company costs americans $50 billion in damages - they should have to pay it.
IMO, letting them get away without paying = socialism at its worst. If they can't pay their bill - then fuccck them!
But what if the Govt drastically exacerbated the situation and damages by refusing help from the Dutch?
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But what if the Govt drastically exacerbated the situation and damages by refusing help from the Dutch?
For the second time, not accepting help is a dumbass move.
However, in terms of liability, those BP bitches would probably just blame the dutch interference for their inability to clean shit up. "We could have fixed it quickly - but Obama interfered and allowed foreign boats to block us".
Rush would be all over it, talking about how obama is using foreign labor, and preventing BP from hiring american fisherman to clean this up. its all politics baby!
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I'm for accountability!
If a company costs americans $50 billion in damages - they should have to pay it.
IMO, letting them get away without paying = socialism at its worst. If they can't pay their bill - then fuccck them!
YOUR for accountability?You supported and defend the stimulus bill which cost us a trillion dollars.Where is the accountability there?Is Obama and the dems going to pay a price for thatr?Go to jail,pay it back?Anything?
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YOUR for accountability?You supported and defend the stimulus bill which cost us a trillion dollars.Where is the accountability there?Is Obama and the dems going to pay a price for thatr?Go to jail,pay it back?Anything?
dude, I think the CEOs should have gone to jail long before any stim bill. Mccain/palin convinced me that it's necessary to bail out the banks. The Stim was simply bailout II dude.
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dude, I think the CEOs should have gone to jail long before any stim bill. Mccain/palin convinced me that it's necessary to bail out the banks. The Stim was simply bailout II dude.
Thats is the dumbest thing you have EVER posted.We are getting the money back from the bailouts.The banks were going to fold and the economy was going to collapse.Please tell me what the stimulus did.Whats it accomplished.We know,from hundreads of economists that the bailouts stabalised the banking system,and the money is being or has been paid back.So ,thats what the bailouts accomplished.What has the stimulus accomplished?UE went to over 9.6% SINCE it passed!!!It has been a TOTAL waste of a trillion dollars.
Keep pretending it was the same as the bailout if you want,but ZERO stimulus money will EVER be recovered,almost all if not more themn all of the bailout money will be paid back WITH interest.Nice try.OBAMA=FAIL.
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Thats is the dumbest thing you have EVER posted.We are getting the money back from the bailouts.The banks were going to fold and the economy was going to collapse.Please tell me what the stimulus did.Whats it accomplished.We know,from hundreads of economists that the bailouts stabalised the banking system,and the money is being or has been paid back.So ,thats what the bailouts accomplished.What has the stimulus accomplished?UE went to over 9.6% SINCE it passed!!!It has been a TOTAL waste of a trillion dollars.
Keep pretending it was the same as the bailout if you want,but ZERO stimulus money will EVER be recovered,almost all if not more themn all of the bailout money will be paid back WITH interest.Nice try.OBAMA=FAIL.
lots of details in this article about TARP and stimulus.
http://www.thealbanyproject.com/diary/5650/ (http://www.thealbanyproject.com/diary/5650/)
It has been brought to my attention that there is some confusion over two very different things. There is confusion over the American Recovery and Reinvestment Act of 2009 (also known as the economic stimulus package) and the Emergency Economic Stabilization Act of 2008, also known as the Troubled Assets Relief Program (TARP).
Some people have taken liberties with both, lumping TARP in with the economic stimulus package and saying that they oppose the economic stimulus package because of TARP. However, TARP was not meant to stimulate anything. TARP's goal was to buy up $700 billion worth of troubled assets. In the House, TARP passed with a 263-171 vote. Of the 263 representatives that supported TARP, 91 were Republicans. And those 91 Republicans included some of the same loud-mouthed Republicans who are dismissing the economic stimulus package. Republicans John Boehner, Eric Cantor, among others.
The only sector TARP helped was the financial sector. There was no stimulation with TARP. The Treasury Department was handed a blank check (with zero accountability) to buy up troubled assets from banks and other financial institutions. The first $350 billion of that money has already been spent, but no one knows where it went. There were a lot of people in Congress who were nervous about releasing the second half of the $700 billion because of the lack of accountability and oversight.
But the economic stimulus package is different - very different. The package passed the House with a 244-188 vote. Zero Republicans supported the stimulus package. The Republicans are quick to point out that there is money for birth control and other things in this bill, but they aren't quick to mention all of the contents of the package.
The economic stimulus package, which is best summarized here, includes the following:
- $32 billion to update the nation's energy grid
- $16 billion to repair public housing
- $6 billion to weatherize modest-income homes
- $10 billion for science facilities, instrumentation and research
- $6 billion to expand broadband internet access
- $30 billion for highway construction
- $31 billion for modernizing and improving infrastructure that lead to energy cost savings
- $19 billion for clean water, flood control, and environmental restoration investments
- $10 billion for transit and rail to reduce traffic congestion and gas consumption
- $41 billion for local school districts; $13 billion through Title I funding, $13 billion for IDEA, $14 billion for school modernization and repairs and $1 billion for education technology
- $79 billion in state fiscal relief to prevent cuts to education programs
- $15.6 billion to increase Pell grants by $500
- $6 billion for higher education modernization
I included the rest of the summary over the fold. But the list above should give you an idea that this economic stimulus package is intended on stimulating the economy and helping average taxpayers and local and state governments fund programs that need funding.
Let me put it into this context. Among the House Republicans, 91 of them (some of whom aren't around anymore) supported giving a blank check to the banks and backed money that would go strictly to banks and financial institutions. But not a single House Republican would support the economic stimulus package that would give money to your local and state governments and go to projects that would help us in our daily lives.
TARP is something completely different. TARP was to help banks and financial institutions that have suffered due to, among other things, the subprime mortgage crisis. The economic stimulus package is different. This is money that will be invested into environmental initiatives, health care, infrastructure and will also fund $275 billion in tax cuts.
Hopefully it is understood that TARP has its own focus and the economic stimulus package has its own focus. They are two very different things with different missions.
robert.harding :: The Differences Between TARP And The Economic Stimulus Package
Tax Cuts to Make Work Pay and Create Jobs: We will provide direct tax relief to 95 percent of American workers, and spur investment and job growth for American Businesses. [marked up by the Ways and Means Committee]
rest of the article click the link http://www.thealbanyproject.com/diary/5650/ (http://www.thealbanyproject.com/diary/5650/)
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The only thing that fining the shit out of BP will do is give a ready-made excuse to jack up gas costs sky-high for the forseeable future.
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I'm for accountability!
If a company costs americans $50 billion in damages - they should have to pay it.
IMO, letting them get away without paying = socialism at its worst. If they can't pay their bill - then fuccck them!
How about applying this logic when it comes to illegals? If they can't pay the bill, then fucck 'em. Letting them get away w/o paying is socialis.
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The only thing that fining the shit out of BP will do is give a ready-made excuse to jack up gas costs sky-high for the forseeable future.
If you are Obama, the only thing on his mind is how to use this crisis to push cap & tax.
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and applying it to all the free loading fucks that collect welfare their entire fucking life?