Obama continues to shred the Constitution and set dangerous precedent on many levels.
Judge Napolitano is filling in for Glenn who is handling a minor medical emergency with his daughter. Considering the violation of the ‘rule of law’ in our country by this administration with the handling of the BP oil disaster, having the judge moderating this program today is a blessing due to his knowledge of the law and Constitution.
Judge Napolitano explains how the liability cap that was put in place by a republican congress and Bill Clinton to limit what the oil companies pay in case of accidents was in return for the federal government being able to say where drilling could occur. The Judge states that BP asked the State of Louisiana to drill in 500 feet and the feds said “no, you have to drill in 5000”.
He also explains how the $20 Billion dollar escrow account that BP is filling with cash is going to be overseen by a Obama czar, Ken Feinberg, and how the government, not a court of law, is going to decide who receives compensation. Very un-Constitutional, very un-American, very Obama.
The judge’s introductory panel includes Stuart Varney, Charlie Gasparino, FBN Senior Correspondent, and John Tamny, Editor of RealClearMarkets.com