One of Josh Marshall’s readers calls BP’s agreement to put $20 billion into escrow a “mind boggling accomplishment” on the part of the Obama administration.
I agree that this was a good example of the administration using its leverage at the right time, and I don’t want to take away from their accomplishment. But, man, is BP in a jam. Credible analysts are making estimates of BP’s liability that range from $40 billion to $63 billion.
With that kind of expense coming down the pike, it’s also mind boggling that BP was seriously considering paying a dividend in four days.
Also, too: I don’t see any evidence that the asinine “BP Bailout” meme is catching on. The latest stupidity from the RNC is an ad accusing Obama of playing too many rounds of golf. When that’s all you’ve got, you don’t have much.