I am rarely at a loss for words, but I was briefly stunned into silence by Barack Obama's words during his Tuesday night speech that he would "inform" BP's CEO that he "is to" create an escrow account. The president has no authority to do such a thing -- but neither did he have authority to cram down Chrysler and GM bond holders for the benefit of the UAW. Law is irrelevant, probably not even considered as an afterthought, by this president.One would think Obama had his goons frog-march Hayward to the Capitol and, when the police attempted to intervene, he blew them away with his tommy gun.
Any of these aggrieved parties might have said no to the President's plans, and accepted the consequences. They chose not to, almost certainly because they didn't want to take their chances with other authorities.
This is one of the few cases I've seen where a suspected malefactor cut a deal with the forces of justice and conservatives complained those forces were too hard on the skels. Aren't they supposed to be law-and-order types?
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