BP too big to fail, or be held accountable?

[Wry Catcher]

BP is too big to fail? So, the American tax payer must give aid and comfort to the company? Shall we raise taxes to save the economies of the Gulf Coast States, and let BP continue to earn profits in the $ billions?
What BP has done is criminal negligence, and given that criminals are punished in two ways - Prison or fines, and usually ordered to make restitution, it's time to punish those individuals culpable and not their investors. And since BP is an individual (simply ask our Surpreme Court) restitution to all those harmed should be ordered, paid by BP from it's profits, and from those convicted of criminal negligence.
Or will those responsible for this economic and environmental disaster escape the consequences of their actions and once again prove that some people and international companies are really above the law?

 

[martybegan]

The BP situation is different from the "too big to fail" bank and automaker situation in that BP's purpose to exist, producing and selling oil is still in effect. Thier cashflow is only marginally affected by the disaster, they have ample cash reserves, and are still profitable even assuming no less than $6 billion in damages.

I agree with punishing people if negligence is found, and compensating anyone affected economically by this, but I want to wait for the investigations to be completed before starting to fling accusations around.

The primary concern is stopping the leak, cleaning up the mess, and taking care of those people who's livelyhood has been disrupted by the event. We have plenty of time to work out the legal blame and final settlement of all the issues.

 

[Wry Catcher]

The BP situation is different from the "too big to fail" bank and automaker situation in that BP's purpose to exist, producing and selling oil is still in effect. Thier cashflow is only marginally affected by the disaster, they have ample cash reserves, and are still profitable even assuming no less than $6 billion in damages.

I agree with punishing people if negligence is found, and compensating anyone affected economically by this, but I want to wait for the investigations to be completed before starting to fling accusations around.

The primary concern is stopping the leak, cleaning up the mess, and taking care of those people who's livelyhood has been disrupted by the event. We have plenty of time to work out the legal blame and final settlement of all the issues.

I absolutely agree stopping the leak and preventing damage to the ecology of the gulf coast is paramount. That said, the question remains: Is there criminal negligence on the part of BP?

["To convict someone of an offense in which the requisite mental state is criminal negligence, the prosecutor generally must prove three things:

1.that the defendant acted so recklessly that he/she created a high risk of death or great bodily injury,

2.that the act(s) demonstrated a disregard for human life or indifference to the consequences, and

3.that a reasonable person in a similar situation would have known that the act(s) naturally and probably results in harm to other people."]

Mistakes and accidents aren’t criminal negligence. Criminal negligence requires more than merely a mistake in judgment, inattention, or simple carelessness. It only pertains to conduct that is so outrageous and reckless that it marks a clear departure from the way an ordinary careful person would act under similar circumstances.

To be guilty of any crime, a person must act with a "mens rea" or "criminal intent." Normally this means intentionally or deliberately pursuing a criminal result. But criminal negligence may substitute for criminal intent under very specific circumstances. When it does, it can subject someone to serious charges such as child endangerment or manslaughter even when the actions are unintentional.

 

[KissMy]

The company or people who caused this disaster should be held accountable, NOT the citizens & the poor with a new gas tax.

House to vote on raising the oil tax

 

[Wry Catcher]

The company or people who caused this disaster should be held accountable, NOT the citizens & the poor with a new gas tax.

House to vote on raising the oil tax

Consider the cost of gas per gallon, and the quarterly profits of big oil. What if the natural resources of oil were owned by the government, each 'worker' was a government employee and there were no stockholders or senior mangement to take the cream of the the profites for their own?
Given the behavior of BP, is it any wonder that Socialism has broad appeal? If those who support our capitalistic system thought for one moment, they would understand gov't has a duty to save capitalism from the capitalists. Regulations and law does just that.

 

[Wry Catcher]

The above musing aside (as it takes some thought and this is not the forum for such things) consider the response to the rescue of the Walrus in the Gulf of Mexico.

Rachel Maddow’s: I am the Walrus Butner Blogspot

If this doesn't convince even the most RW Fringer defending BP, there is no hope for them. Criminal Negligence? You betcha!!!

 

[Wry Catcher]

Well here's a constructive thread. Posted today by a RW fringer:

Fallout from the Spill

--------------------------------------------------------------------------------

Oh oh

Our new Louisiana poll has a lot of data points to show how unhappy voters in the state are with Barack Obama's handling of the oil spill but one perhaps sums it up better than anything else- a majority of voters there think George W. Bush did a better job with Katrina than Obama's done dealing with the spill.

50% of voters in the state, even including 31% of Democrats, give Bush higher marks on that question compared to 35% who pick Obama.

Overall only 32% of Louisianans approve of how Obama has handled the spill to 62% who disapprove. 34% of those polled say they approved of how Bush dealt with Katrina to 58% who disapproved.

the rest here.
Public Policy Polling: Fallout from the Spill

It's Obama's fault! Damn fools.