President Obama is going to use his heavy-handed negotiating techniques today against BP and demand that they write a balnk check. They should refuse.
BP obviously was culpable for the explosion and mess. That's not the issue. They already said they would pay all "legitimate" claims.
But now, Obama sees this as his chance to punish yet another large company and bring it to his knees. A chance to manipulate business into making him look good. He may even be fancing a GM-style takeover.
He used words like "insist" and "demand" and "make them pay." Who does he think he is? He doesn't have this power.
They are paying for the cleanup already. Now he wants them to help him buy votes by paying people that are out-of-work because of this - no matter how loosely they might be affected. What about the millions of other Americans that are out of work? NASA, for instance. Oh, that's right. he did that one.
Thousands of people who are out of work in the Gulf are that way because of his unilateral decision to suspend drilling for 6 months. At the rate he makes decisions, it could be a year or more before this passes - and that will likely be to late for a full recovery.
Obama is President. He is not king or dictator. He cannot demand that a foreign-owned and based company do anything other clean up the mess they caused. Beyond that, BP should stand firm.
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