Monday, June 21, 2010

Why I Don't Have A Big Problem With The BP Shakedown (YET)

Several people are weighing in on this. Including Michael Barone , and folks at Powerline.

I think they are asking the wrong questions. More on that in sec. It does seem to me people are buying this narrative of just after 20 minutes Obama got the bad ole BP to fork over 20 billion dollars. Does anyone believe that?

Now BP could be doing this for all sort of reasons
TO mitigate damages in the future
For Public relations
Because it is the right thing to do

However I tend to agree with Althouse thoughts here at What's the difference between a negotiated settlement and a shakedown?

I mean is there a difference. So I am not sure what the uproar is about. Althouse leaves us with the real question we should be looking at:

What matters is whether Obama did a good job of pursuing American interests and whether, in the process of of pursuing American interests, he abused his power. Since BP could have rejected Obama's proposal and fought through the legal process, I don't see what's supposed to be the abuse of power. Salam doesn't say he thinks Obama will manipulate the federal and state courts, so what is the problem? More worrisome is the possibility that Obama's deal was too good for BP. It took the deal, and we should wonder why. Is this one of those things — like the health care reform — where we will find out what it is when it goes into operation?

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