Obama to BP: “You will pay for ‘assaulting our shores and our citizens’!”

Posted on June 16th, 2010 in Uncategorized by Karl

Given the current, tough political environment, Obama has every incentive to go overboard in punishing BP and holding BP financially responsible for as much “damage” caused by this spill as possible.  The environmental cleanup (in and of itself) is going to be extremely costly.  But in the end, that “cost” will be minimal compared to what Washington will charge is BP’s “overall liability”.What about the fishing industry?  Tourist industry?  Local merchants?  Beach front real estate developers? What’s stopping any/every Gulf of Mexico state from blaming all their economic troubles on the BP oil spill?!  Nothing.The reason BP has hired Goldman Sachs and other Wall Street banks is that BP knows that Obama will (and politically needs to) go after BP in the most aggressive way possible.Every American apparently agrees that we should hold BP accountable.  However, what is lost on Obama is the following – every other company doing business in the US is watching Obama’s actions and is painful aware of the current hostile business environment in Washington.The Washington message is clear:  ”I need to get re-elected, and my poll numbers are way down.  If I can gain votes by bashing your company (or industry), watch out.  I will take you out.”So…just how is Obama encouraging business creation?  Does he realize that we need business creation to save our economy?  Or is that too long-term focused.