Shepard Smith Rages On Fox News Colleague - Accuses Judge of Defending BP

[Germantunedcars]

Did anyone actually hear what the Judge said??????????????????????????­???? If companies were forced to put up their own money without the gov't to cover the loss (aka tax payers) the companies would NEVER have drilled 5000 ft. Bottom line. Ah... Free markets, what a concept.. Ron Paul 2012!~

[Germantunedcars]

What a dumb ass, he gets mad at the judge for seeing the obvious? Because this statist Shepherd is a freaking retard? Just sad, statist sheeples never get it. Keep your head in the sand...

[PirateSygnal]

This Judge idiot is so tiring. What a fucking idiot.

[MiracleBlueOfficial]

I would LOL if it wasn't so depressing.

If only it were 500 feet, it would be cleaned up in no time. If only there was no regulation, this wouldn't have happened. Really? Really?? Let's see what was happening in the news last year... oh hey look! An oil spill off the coast of Australia (where I live) gushed for well over 10 weeks. Millions of gallons of oil. 25,000 square miles of ocean. Same capping methods were attempted, none worked. How deep was the well?

240 feet down.

[garebear1015]

BP has given big money to Obama-fact.

[johnedwards1968]

Judge is factually wrong on his assertion that a corporation must use the government's numbers! They are the very minimum standard that corporations must reach. There was nothing wrong with BP exceeding those standards.

[Somai82]

libertarians are the most hypocritical ans selective people in the world. Not the mention the fringe paranoids, racists and conspiracy kooks.

[SpringChatty]

Thats only the beginning of their troubles.

[SpringChatty]

BP paid with a loss in Tenn. of a whole gas station too.

[RachTrinity]

shep smith is a moron

[loudafool30]

The judge killed him!

[braydenbeautiful]

Napolitano is a dumb cunt.

BP's money WAS one the line, and they fucked up, knowingly.

I learned this in HIGH SCHOOL IB economics, in Theory of the Firm.

A firm will do whatever it can to maximize profits. If the risk of messing up + getting caught and the associated punishment(s) are less than the amount of potential profits, a firm (especially a limited liability, e.g., MNC) acting rationally will execute the illegal action.

The truth is Napolitano isn't dumb, he's just deceitful.

[joshuancts]

Didn't BP end up shelling out like 20Bil and rightly so.

[mike30091]

Shepard Smith is a dumb fuck

[colloredbrothers]

@mike30091

watch some other video's of shep, he is fucking awsome.

[mike30091]

@colloredbrothers nah trust me he's a stupid fag

[GovernmentSham912]

I like both Shep and the Judge

Shep just had an misunderstanding

[EmpathyWorks]

The Judge agreed that it was a long road to get there.

Shep exposed him on that one.

[whoo689]

And even WITHOUT special treatment from the gov't, is business REALLY any more likely to be totally fair, honest and NOT pollute, to name a few? Competition does hinder some of big business's more ruthless tactics, but it can't prevent them doing all the unscrupulous shit they have done in the past (and continue to do in some 3rd world countries). There's only a certain threshold of responsibility.

[whoo689]

Say what you want about the government supposedly 'enabling' BP, TransOcean, etc. to do this, but the fact is, THEY screwed up. They deserve the lion's share of the blame! They decided to go in, and they didn't put ANY protections in place, like the blowout preventer, which would ONLY cost about 500 grand for a co. that has billions in annual profits. They didn't take the necessary steps to mitigate or prevent the disaster. Government increased the risk, but the risk was BP's.

[whoo689]

Insurance company?? WTF

How many oil co. insurers are there that will pay over $75 Million if the oil co. screws up with drilling?? Seriously, Judge? Name me ONE co. like that. 

Is there some secret group of insurers like "National Oil Co. Protection" that I don't know of?

[whoo689]

@whoo689 I'm something of a libertarian myself, but I think the whole emphasis on "corporatism" and "government enabling bad business decisions", for the most part, is just a subconscious COVER by many libertarians to avoid blaming big business for any of its faults or screwups.

For one thing, they don't wanna be seen as ANTI-BUSINESS by their fellow laissez-faire, limited gov't friends. And secondly, they might think, "Well, if I criticize business too much, I'll be no better than a Dem."

[whoo689]

@whoo689 I don't deny that corporate welfare and crony capitalism exists, but the way the libertarian movement constantly blames that as the reason for all our market woes shows something of a disconnect. Yes, government at times DOES encourage bad business decisions (or by default, doesn't discourage), but the bad business decisions are STILL MADE by the businessmen themselves! They screwed up. Surely they can't be SO DUMB that everything gov't does fools them ALL THE TIME.

[whoo689]

@whoo689 And frankly, there's no such thing as a true free market. It's never really existed. Even in the U.S., the Progressive Movement started in the 1870s or 1880s, less than a century after the start of the Industrial Revolution, and even THAT early, many big businesses in several industries, like railroads, lobbied extensively for MORE regulations that would reduce competition, fix prices, and increase barriers to entry for potential future competitors.

[whoo689]

@whoo689 The fact is, as much as free-market types may SAY they believe in it, only a handful actually do. And that handful, unfortunately, just doesn't have the political clout to make it a reality. We can argue about a hypothetical America where markets are very free, and competition is totally vibrant, and there are zero barriers to entry and corporate welfare and whathaveyou, but it probably will never be a reality.

Business will ALWAYS ask gov't for handouts, subsidies, etc.

[whoo689]

@whoo689 Free markets aren't necessarily in big business's best interests. Free markets, which implies more competition, cut into their profits, for one thing. Self-interested businessmen won't go for it.

I mean, Ron Paul has been consistently ranked only with a 60 out of 100 by the Chamber of Commerce, one of the lowest scores of Republican Congressmen. A 60! But he's the most pro-free enterprise guy in the gov't, probably

[whoo689]

@whoo689 The preferred market is somewhere in the middle- not at the extremes of corporatism or laissez-faire. BOTH just make us worse off in the end. Both have failed.

[dangercartxx]

@whoo689

did you even think your response through? Why would there be any oil insurance companies for these kinds of hazards when the government made a $75 million liability cap back in the 90's that the oil companies can pay themselves?

Who would currently be buying policies from this insurance company? Oh, nobody? Because their max liability is 75 mil aka oil company pocket change? Gee, I wonder why someone hasn't started some totally useless insurance company that has no market demand

[porkypine8974]

A government and a corporation both can be sued. The people working for either are usually pretty much protected from the consequences of the actions they themselves ordered. I'm tired of people being like business this or government that. Look, any organization or institution can be incompetent or corrupt because they are made of people.

[pennjersey83]

Shep is simple minded

[vechorik]

Shep is a true news man -- asking tough questions, but he's more -- he's cute as heck and cracks me up with his jokes and remarks!

[JohnLeeMD]

@vechorik You are a f-n blind woman (assuming you are a woman by your comment... I don't know--you could be a man... not that there's anything wrong with that). But to call this typical mainstream media blowhard Shep Smith a true newsman is doing a disservice to true newsmen from the past!

He is in line with any other talking head on TV today. They don't do anything of substance. Sorry--just telling you the truth.

[narutovn]

The was both right in a way...

[cjnewson88]

Napolitano.. you fking legend. spot on dude

[Thorbie]

Shepard Smith is a moron. Lol.

[charliescigar]

Shep Smith was that pouting, spoiled, snot nose little kid you knew when you were growing up.

[Vegheadsrock]

BP cant pay if they ruin our world.

[JTNashville]

Was Shep not listening?

[dubified89]

I'm curious about the part Napolotano said about environmental agencies telling BP to dig thousands of feet deeper than where they wanted and that being to blame. Anyone have any more info about that? Feel free to message me

[pjorion3]

@dubified89 That was my question, too... BP has been talking for years about the need to move to, among other locations, deep water sites in the Gulf of Mexico (see Tony Hayward speech in June of 2008) specifically because the shallow sites were drying up... This fiction about the government forcing them to deep water is bizarre.

[guitarland]

How does an emotional idiot like shep smith keep his job. Thank GOD for logical thinkers like Judge Napolitano. Anyone agreeing with brain dead Shep smith is running on empty. The Judge really nails it - sadly this has only 7000 views. This should be required viewing in all government funded schools.

[Quiltingsando]

The Judge has it right. Go, Judge wake up the sheep.

[spyletu]

at least shep smith grasped where napolitano was coming from near the end. that seems to put him several hundred notches higher than whoever titled this video. after a week a few thousand views he STILL doesn't get it.

[craigmason84]

GOT TO LOVE THE JUDGE!

[bmartls32]

Should be titled "Shepard Smith is enlightened by Fox News colleague...."

[thinkrevolution]

I'm with the Judge.

[PersianPaladin]

Dick Cheney put oil industry people in charge of the regulatory structure for the energy industry.

BP made the most of this situation.

[BeamMeUpSkippy]

I wonder how much money the oil companies paid to Napolitano. What a piece of work.

[krinpaus]

@BeamMeUpSkippy You need to review the video again. If you can't understand what Napolitano is stating, I'm sorry. You can not be more wrong in your comment, in fact, please delete it.

[chubstheclown]

@BeamMeUpSkippy "I wonder how much money the oil companies paid to Napolitano" I wonder how much money BP paid to Obama's campaign... How about more than -any- other candidate. And you think government is exempt from responsibility? Not when it is bought and paid for by the corporations you hate so much.

[BeamMeUpSkippy]

@chubstheclown Why do you assume I "hate" corporations? And why do you assume I think the govt is "exempt" from responsibility"?

[chubstheclown]

@BeamMeUpSkippy Because the point Napolitano was making was that government is not exempt from responsibility, and your reaction was to call him a shill for the oil companies. So now you're saying you agree with Napolitano?

[BeamMeUpSkippy]

@chubstheclown To me, Napolitano seemed to be blaming the entire mess on the govt even though BP had many more violations than all other oil companies combined. (Your hostility & anger is virtually jumping off the page.)

[chubstheclown]

@BeamMeUpSkippy Try to read my comments again, but imagine them in the same tone of voice as Mr. Napolitano. I am neither hostile nor angry. Your impression otherwise is nothing more than an emotional reaction... much the same as we are seeing from Shep in this video. Also, read the comment from AthestAltar under "Highest Rated Comments". He hits the nail on the head.

[jenkinsbrigade]

I don't watch Shep in action very often, but it seems he is a big advocate of the "shout and sound really angry" tactics so common at Faux News (right, Bill?). I'm amazed the Judge still has the patience and humility to work at Faux.

[continuityofliberty]

Shep always seems stuck in his little box, but it was nice to see him "wake up" a bit at the end.

I bet many in the media see themselves as shephards when in fact they're the most indoctrinated sheep out there.

Some of the talking heads know they're part of the scam (O'Reilley, Beck, Olbermann, etc...) but I humbly ask those that don't to open your eyes/ears.

We need you to alter the path they've put us on - if you help us we will welcome you and your children will respect you.

[spirittoo]

Both BP and the government are responsible for this disaster and they are doing all they can to make things worst so they can pass their carbon tax to steal more of the people's money. Wake up ... fascists have stolen the country ... and the world.

[spiralreplicator]

Smith is a sycophantic murdoc suck up.. Claiming ignorance isnt an excuse, its collusion.

[libertyplayground]

uh, Judge Nap didn't "defend BP". He just said that certain government regulations led to unintended consequences.

[OneTokeOver]

It was desparately dishonest for shep to accuse the judge of defending BP.

I'm afraid shep isn't too bright. He's just another pretty news reader who is short on brains. Typical fox twinky.

[LSDNY]

The judge is not defending BP, which is a perfect example of a company engaged in "crony capitalism." He is also not playing politics with this as Shepard Smith suggests. He's not blaming Republicans of Democrats specifically. He is just pointing out this is another area of private business that the Fed Gov't has stepped into regulat and made worse.

[ilikeyou0385]

whoa, the Judge is a smart smart man...at the end, Shep has nothing left but to make an emotional plea, lamenting that this process has turned too political. lol, no logic there whatsoever.

[carolm62]

Way to spell it out Napolitano!

[tesla921]

I wonder why Shep doesn't understand something so simple. I suspect too much state indoctrination in public school.

Some people can see thru it and some just can't.

[SuperJoeAnonymous]

Another numbskull beaten into submission with logic....in the end Shep's only defense is an appeal to raw emotion....how sad. Our country will never be able to backtrack to what it once was....the only path to freedom is through its collapse.

[4Stanzas]

Government and businesses are in it together. Governments shield businesses and help them profit at our expense and, when things go awry, businesses always play the role of scapegoat, further promoting government as supreme protector of the land which grows their power. Power then gets used to further grow corporate profit. Remove the state and businesses are forced to cater to consumers, whose high and fickle expectations companies would rather avoid. Corporatism stinks. Good on ya', Judge!

[mmaier2112]

Hey Shep! See if you can look like more of a queener with more makeup!

The Judge rocks. Brilliant man and a great defender of freedom (and its attendant responsibilities). His book "Lies The Govt Told You" is a great read.

[HuxleyWasRight]

It's moral hazard again, institutions/corporations act differently when they know they will get bailed out by the government.

[HuxleyWasRight]

gotta love judge Nap, he tells it like it is and doesn't care if it riles the fake liberals who can't comprehend his argument, and instead go for knee jerk reactions like "you're defending BP!?" .

If you listen carefully, Napolitano is tougher on BP than any Liberal, under Judge Nap's way of thinking BP would be on the hook for ALL damages, and wouldn't even exist in it's current form, under a total free market system BP would probably be bankrupt right now.

[AtheistAltar]

Why do people confuse libertarians criticizing government with "defending" corporations? Napolitano never once covered for BP, his anger is directed towards the government because the government enabled BP.

Greedy corporations + monopolistic government = chaos. Greedy business + market disciplines = meeting consumer demand. Sure it's "greedy", but the results aren't anywhere near as bad.

[DingoBabyEat]

@AtheistAltar what does "market disciplines" mean? who sets the disciplines and are they legal binding...I assume people are confused on Libertarian Philosophy because you can ask 100 Libertarians and get 100 different answers

[AtheistAltar]

The disciplines are emergent. In other words, I would say that the disciplines come by free exchange. Supply and demand, profit vs. loss, etc. are market disciplines.

Is it legally binding? Honestly I'm not an expert on polycentric law. But I do know that you can have free market courts that are intertwined with credit. If push comes to shove, you can violently defend yourself.

And that's because there are different schools. Usually debates are minarchism vs. market anarchism.

[silus2000]

@AtheistAltar He IS defending corporations. When you emphasize blame on government vs. corporation you are absolving at least some of the responsibility of the corporation and placing it on the government. Of course its not a black and white issue where Judge is blaming one thing and not the other, but clearly he is emphasizing blame one place.

[AtheistAltar]

@silus2000 Not quite. What he is saying is that, left to market forces, the corporation would have different opportunities (drilling closer to shore vs. drilling in 5,000ft deep ocean) and the corporation could be in a situation where this may not have happened.

There are no checks and balances in government because the people in charge have no reason to restrain their corruption. Corporations follow the dollar signs and generally dollar signs lead to meeting consumer demand.

[AtheistAltar]

@silus2000 I guess what he is saying is that, "yes, BP cut corners and we should boycott, protest, etc., but the problem lies with the government because they facilitated the corruption."

[eqsmooth]

@AtheistAltar Because you are a fake Libertarian who knows nothing. Libertarians & Republicans are only in this for themselves not for America and Americans. Less to zero regulation is bad and you know it. Goldman Sachs and BP can't control themselves. Money and oil are just like methamphetamine to them.

[hotjun]

@AtheistAltar how about greedy business + transparent government regulations on the market = meeting consumer demands + reasonableness that negates corporation avarice.

[AtheistAltar]

@hotjun Because it is a problem inherent in the structure of government. It is only indirectly held accountable by voting, but you know many businesses lobby the state successfully since they have more clout. You can't wave a magic wand and make things work. The problem being that the State has a monopoly on the provision of "regulation" which is a presumptuous description since it assumes that it can properly "regulate" something in the first place.

[hotjun]

@AtheistAltar I agree that there is an inherent problem (mainly in our inability to effect change) in the structure of government insofar that we are referring only to the governments of the classic state-nations. But before I expatiate further, I would also like you to acknowledge that despite the preponderance of counter-examples there have been European governments that have genuinely achieved transparency to an astonishing degree, and furthermore, could you elaborate the last part?

[AtheistAltar]

@hotjun The last part where I say it's presumptuous to call it regulation? All I'm saying is that it seems like calling wars "liberations" or something. "We need more liberations!" Well, that kind of begs the question; is liberation possible using war as a tool and is it effective? Likewise, is regulation possible using a coercive monopoly as a tool and is it effective? I suspect it is possible, but the incentive structure appears dubious.

[hotjun]

@AtheistAltar Yes, calling wars "liberation efforts" is highly subjective nor do I ascribe morality to foreign interventions, which leads to my distrust of state-nations; but that's besides the point. I view regulations as a bulwark of corporate avarice (the structure of which is dependent on incentives), which reaps benefit from taking advantage of employees, consumers, and the economically misplaced. Moreover, any case where one side hold preponderance there will always be unfairness.

[Chainedorlo]

This really is an amazing video. If anybody else wants to understand the shortcomings of bureaucracies, then you should all read the book the Politics of Bureaucracy by Gordon Tullock.

[implicaverse]

For all you libertarians out there, you should know better. You should know that both our government and the corporations are owned by the Federal Reserve bankster cartel. The fight between governments and corporations is no more real than the fight between Republicans and Democrats. Stop believing in the system, that is the first step toward real change.

[truevoice08]

Napolitano doing what he does best

defending the RULE OF LAW (against the rule of men)

[FreedomForUsAll]

One guy understands economics and the Constitution, one guy doesn't.

[ElNeedle]

Napolitano is even more right & Smith is even more wrong. The Interior Department has a racket and conflict of interest. The Interior Dept. gets royalties for drilling activities. The Interior Dept. also creates the safety rules & grants waivers. The Interior Dept. cuts corners on the safety rules in order to get more royalties.

The liability cap is an example. If there was no liability cap, the Interior Dept. would make billions less in royalties. Obama is protecting the Interior Dept.

[boogyman71]

When government screws up, who pays? We do, and those same government jackasses get a promotion. 9-11 happens, and everybody got a promotion.

[physed1]

Napolitano is AMAZING!!! The root of ALL evil these days is not simply corperations, but the corpratisim that our central governement participates in. These thoughts need to be pondered. Sure, it seems cut and dry...BP's fault. But the 2nd grade notion of cause and effect needs to be more present in American's thought process. The prom goers who get drunk or the fool that spiked the punch? Who's really at fault? You need to think with your mind...not your eyes!

[buzywil]

Napolitano is crazier than an Out House Rat, he wouldn't know the truth if it bit him.

[jburr2899]

Wow i'm impressed shepard, you may actually be capable of independent and rational thoughts. Kudos to you!! Now please tell some of you colleagues there at Fox to do the same.

[psyf3r]

Shep let his emotions get the best of him on this one. I might lose it too and think irrationally if someone said don't blame BP for this if I was from the Gulf Coast like he is. He is isn't he?

[JustMePA]

The Judge is spot on right.... BP made mistakes (and should be held accountable) but the government made a huge mistake by advising BP to drill @ 5K feet vs. 500 feet. The govt doesn't give a damn because those who work for the govt have no skin in the game so they have no motivation to be accurate. Furthermore, why they hell did the govt create a regulation capping oil company's liability???? STUPID!!! If it's your ass/$ on the line you will ensure it's done right!

[truevoice08]

@JustMePA Government is not stupid, if they were stupid then the problem would be solved if bright men ran the government. Government is only looking out for their self-interest. They get money from fines and penalties in these situations.

[jdutilljr]

"... the Interior Department agency that collects oil and gas royalties has been caught up in a wide-ranging ethics scandal — including allegations of financial self-dealing, accepting gifts from energy companies, cocaine use and sexual misconduct." NYTIMES. The Government should share the responsibility as a self recognized "regulatory body". You can debate all day about who is at fault but the Judge is blaming both parties and I agree.

[jdutilljr]

"Those are your emotions acting without the benefit of intellect. " from the movie Passenger 57.

[815141518]

Thank you Judge Napolitano for defending the rule of law & the Constitution in the face of the statists and ignorant who disregard it whenever convenient.

[macky765]

to try and blame the government for this is insane. you must really hate the government to take their side.

WHAT DOES SUING THE GOVERNMENT HAVE TO DO WITH A COMPANY CUTTING CORNERS FOR PROFIT.

[CortoMaltese86]

@macky765 Since you cant sue the government, you cant get good accountability from it. If it was an institution that you could sue for missleading information, all the safety regulations etc. would have been better updated and looked in to. You do not want to give the government to much regulatory power since it listens to noone and that always leads to neglection and ineffectivness despite all the best intentions.

[ICOM2957]

3:38 Smith notices that his rant was for naught. If he only listened before throwing a hissy fit.

[prometheusnproteus]

Judge was not defending BP he was blaming both BP and the Federal Government for their combined role in this. Maybe Shepard Smith should learn to listen and shut up.

[jornbalt]

@prometheusnproteus

Perhaps you should be more appreciative of the interviewer's questions as opportunities for the Judge to get his points across?

[Th3xUnkn0wn]

@prometheusnproteus or maybe YOU should learn to listen. Napolitano LITERALLY says "I'm blaming the government for this".

[Somai82]

@prometheusnproteus Shep: "So we need fewer regulations not more on the oil companies?"

Judge: "We also need.."

That's defending BP..you fuckin idiot.

[baronmorris]

Hell to the yes! Go Shep, go!