How Obama Abuses Presidential Power

Did Obama abuse the power of the Presidency when he told BP to create a $20 billion escrow account? “Yes,” say Nobel Laureate Gary Becker and Judge Richard Posner at the U of Chicago. Becker says business should be subject to only one regulatory authority, that of the courts: “Should a President use the prestige of the office, and his ability to command public attention, to obtain compliance with demands made by him on the business community that are not backed by law? I think not, apart from any distaste one may have for bullying. It makes business subject to two regulatory regimes…”