Obama Bows to the Queen To Save BP and Tear Up The Constitution

June 23, 2010 (LPAC)—According to senior U.S. intelligence sources, President Barack Obama's so-called "get tough on BP" posture was nothing but political cover, to conceal the fact that he had totally capitulated to pressure from London to bail out BP, as one of the anchors of the entire British Crown. According to one source, a gathering of top City of London oligarchs reached a unanimous consensus that BP had to be saved, at all costs. A delegation went to Prime Minister David Cameron, and assigned him to secure Obama's pledge to join the "save BP" bandwagon. And that is exactly what happened.

* On June 10, Chancellor of the Exchequer George Osborne, and then PM Cameron met with BP Chairman Carl-Henric Svanberg, and worked out the details of Cameron's pitch to Obama.

* On June 12, Cameron and Obama had a 30-minute phone conversation, in which Obama agreed that the U.S. would not take any action that could jeopardize the survival of the company. Obama also invited Cameron to come to Washington on July 20.

* On June 16, Obama had a White House meeting with top BP executives, including Svanberg. Coming out of the meeting, Obama announced the creation of a $20 billion fund, to be paid by BP, to compensate victims of the explosion and oil spill. While Obama talked tough about this not being a "cap" on what BP would pay out, the actual nature of the deal was exactly that. The President named White House attorney Ken Feinberg to administer the BP fund, and within days, Feinberg made clear that payouts would require recipients signing waivers against any future law suits. Feinberg had administered the 911 compensation fund, and had imposed the same rules in that case, which has subsequently resulted in victims and survivors of the 911 attack being horribly short-changed. At the time of the 911 fund, the argument had been made that the insurance industry would go under, if victims were fully compensated. In this case, the beneficiary of the defacto cap will be the Crown Jewel, BP.

Another U.S. intelligence source emphasized that the BP action by Obama may be the greatest violation, yet, of the U.S. Constitution, in the name of the unitary executive. Obama set up the BP fund, in a private White House deal with top BP executives, without consulting Congress or the courts. The President's administrator, Feinberg, has made a unilateral decision that victims of the BP spill collecting from the fund will have to give up their right to sue. There is no legislative or judiciary approval for this action. The President cut a private deal with the British Crown, and the net effect is that the American people are going to be Royally screwed!