Monday, June 14, 2010

Why BP (NYSE:BP) Must Reject Escrow Account

The escrow account being pressed by Obama and his Democrats is a horrible idea, and BP (NYSE:BP) needs to completely reject it, as it'll put them in position to be charged just whatever they want by the U.S. government, and then they'll still have endless bills pressed on them after that happens.

Democrats are pushing for $20 billion to launch the fund, which, while being said will be run by a third party, will obviously be a tool for Democrats to distribute what they want, how they want to who they want; the obvious reason for creating the fund in the first place.

They've already done this with bailout funds in the U.S in the auto industry, where they punished political opponents who had car dealerships, while keeping their Democrat constituents in business. That is a proven fact, and the way the thuggish Democrats operate.

The idea of BP taking over the responsibility for four of the states in the region, which this is largely coming to, is criminal in its implications, and a cynical attempt by the Democrats to crush this company, contrary to what Obama asserted to the British prime minister, whom he told he wasn't trying to do.

BP has stated from the beginning that they're more than willing to pay for any legitimate claims they owe those harmed from the accident. This escrow fund would throw that completely out as Democrats would assuredly re-distribute the money to their constituents in the name of BP paying for the oil spill; whether or not it was connected to the oil spill or not.

All they have to do is attempt to find some type of tenuous link they can then blow up into a wrong that needs to be paid for, and there you have this $20 billion waiting there for them to take to pay for the alleged wrong.

This is why the Democrats, again, are sifting through every e-mail or communication BP had in order to dredge up any type of element that makes BP look bad in the oil spill, as they're preparing to pressure them to cave to their every whim and demand to extract as much money from them as they can.

BP must understand that the Democrats will do whatever they want, whether or not they successfully shake down the company or not.

In this case BP would be right to resist them, and nothing the executives do will placate the power-mad Democrats who are so drunk with power and bailing everyone out, they can't get delivered from their addiction, and BP is just a handy scapegoat to pressure to steal billions more from.

BP needs to stick to its guns and only pay out provable claims. This is the usual Obama and Democrat trick to make it look like everyone is running out of time and something must be done immediately.

For BP to succumb to that pressure will be a mistake, as Obama and the Democrats will continue on their shake down no matter if they agree or not.

Stop it now and the clowns will be forced to shut up or reveal more of their agenda from their over-response to BP not giving into it.

There's a point where BP must say enough is enough, and that point is now. If they don't, it's highly unlikely there will be a BP in the future, as once they cave on something as important as this, it'll only be a short time until more demands are presented by Obama and the Democrats to take from the oil company.

This is why Obama and his stooges don't want BP to keep their dividend. It's not because they care one way or the other in general, it's that they have their greedy eyes on the capital of the company, which they already have plans in place to use. You can count on that. And if BP caves on the dividend as well, you'll start to see all sorts of creative and destructive assertion from Obama and the Democrats as to new things that BP will have to pay for.

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