Obama's Response to BP (NYSE:BP) "Shakedown" Comment Shows Maybe it Was

The immediate and aggressive, and unusual response to Joe Barton's comments that the so-called escrow fund was a "shakedown" of BP (NYSE:BP), makes one wonder if in fact it was.

Even the response didn't make much sense, as the Obama administration said this:

"Congressman Barton may think that a fund to compensate these Americans is a ‘tragedy,’ but most Americans know that the real tragedy is what the men and women of the Gulf Coast are going through right now. Members from both parties should repudiate his comments.”

The response is a complete fabrication and lie, as BP was already doing this, i.e. compensation thousands of those making claims, and had paid out millions, while continuing to reiterate they would pay out all legitimate claims made against them.

Not only do Barton's comments not need to be repudiated, they need to be closely looked at, as a significant number of people are already noting the fund offers tremendous opportunity for BP to be abused and pay for far beyond those actually injured.

British Prime Minister David Cameron has essentially said the same thing, although in a more politically correct manner than Barton.

This fund adds absolutely nothing to those making claims, and was only implemented to make it look like the hapless Obama and his administration are doing something about the situation.

The fact that BP will put $5 billion annually into the fund over a 4-year period shows this will do nothing to make things go quicker, and it'll take years for claims to be resolved.

Using the tragedy of those being affected by the oil spill to justify creating a escrow account is pathetic if you look at it honestly. Again, BP had already been paying out millions, and they were prepared to pay out more. Creating the escrow fund does absolutely nothing to add to that, it only shifts the money somewhere else and continues the process.

How does that justify the account, and how does that justify the ridiculous response by the White House to the criticism of Barton, Cameron, and many people who see a lot of the mischief behind this?

Maybe Barton's comment is too obviously close to the truth, the reason the unusal response from the thin-skinned Obama was made.