Another Obama czar, Kenneth Feinberg, picked to administrate the $20 billion escrow fund of BP (NYSE:BP), again shows why you don't allow the government to exceed its authority and go unconstitutional: they don't have the self-control when they have access to money.
This is evidenced by Feinberg, who said this concerning redistributing the funds:
"With the emergency payments ... you've got to allow those payments to go out with less corroboration than you would if you're giving a lump-sum payment that is the total compensation.
"For the emergency payments, we've got to err on the side of the claimant."
What is Feinberg saying? In the first paragraph the nod to less corroboration means he's in fact a czar, but alludes to what that means: there's not going to be close checking of the facts concerning claimants, it's going to be more indiscriminate, and possibly used as government fund for anyone in need, not those actually hurt by the oil spill.
And the second paragraph extends the meaning of the first, only narrowing it to emergency payments, which in this case means he's probably going to pay out more, whether or not, again, the cost to the people is more than they should be paid.
In other words, he's going to run this in a fiscally irresponsible manner, just like the government has been doing for years to bring us to the place we are today.
And the Democrats think they have an issue with the response to this fund? They're the ones that better start running away from it when it's discovered the money is being used in a socialist manner to redistribute to many undeserving and unqualified for the payouts.
This is why BP should never have caved into this, and the shakedown has resulted in exactly what was feared: BP will pay far more than they needed to by the "generosity" of Obama's czar.
It's so easy to spend someone else's money, which this escrow fund in fact is, but obviously in name only. The government has another piggy bank to break open and use according to its will.
1 comment:
Czar I know one thing he will be held totally accountable,to the max!!! Maybe like like they did in the old days just like when the west was won.A judge would hang a person in front of the towns people for stealing a horse.If they did that today maybe there would be much less crime.Some better watch their ass.I to feel there are people who and will be fairly given $$$ due to the loss incurred,it's the people who don't need it,or by fraudulent misrepresentation,they better think twice before taking someones money that just leaves a me with alot of unanswered questions.
Post a Comment