[Parallax]

Peter, something has bothered me about this thread ever since you posted it, and it just finally dawned on me what it is. It is the title, specifically the "bankruptcy" part. I don't know how things work in Canada, but in the U.S., bankruptcy is basically a way of saying to your creditors "F--- you, chump!; and you get to start over. That is a WAY better resolution than BP deserves.

[Ratmagiclady]

Peter, something has bothered me about this thread ever since you posted it, and it just finally dawned on me what it is. It is the title, specifically the "bankruptcy" part. I don't know how things work in Canada, but in the U.S., bankruptcy is basically a way of saying to your creditors "F--- you, chump!; and you get to start over. That is a WAY better resolution than BP deserves.

Frankly, they shouldn't be allowed to be any kind of scapegoat to 'expiate' the 'sins' of a messed-up system, anyway. BP are certainly no angels on the world scene, but also you don't need a whole lot of Machiavellian paranoia to see how other interests Halliburton is involved in could benefit from BP taking the fall for the deregulation the industry as a whole insisted upon.

Frankly, they all gambled with and profited off risking the life of the world and a lot of people, all took their cut, all told the same lies, and all should pay.

BP spent more money advertising how green it was by like an order of magnitude compared to what they spet on actually doing anything, and compared to what all the Bog Oil companies spent on lobbying for more profit...

No sympathy for any of them, but if anything, their interests here should be forfeit and they should make a case why they deserve any back.

Don't worry about it. Obama Oil will just socialize it like his buddy Hugo did.

[Parallax]

Frankly, they shouldn't be allowed to be any kind of scapegoat to 'expiate' the 'sins' of a messed-up system, anyway. BP are certainly no angels on the world scene, but also you don't need a whole lot of Machiavellian paranoia to see how other interests Halliburton is involved in could benefit from BP taking the fall for the deregulation the industry as a whole insisted upon.

Frankly, they all gambled with and profited off risking the life of the world and a lot of people, all took their cut, all told the same lies, and all should pay.

BP spent more money advertising how green it was by like an order of magnitude compared to what they spet on actually doing anything, and compared to what all the Bog Oil companies spent on lobbying for more profit...

No sympathy for any of them, but if anything, their interests here should be forfeit and they should make a case why they deserve any back.

Correct.
The U.S. Should immediately file a lien against all of BP's assets. Whatever is left after the cost of cleanup and reimbursement to individuals and businesses for lost income they can have back.

[Ratmagiclady]

Correct.
The U.S. Should immediately file a lien against all of BP's assets. Whatever is left after the cost of cleanup and reimbursement to individuals and businesses for lost income they can have back.

Not just BP. All of em. Especially Halliburton. Why should they be able to run off a competitor by blowing up their rig, , profit, and keep the deregulation?

They all played Russian Roulette with the Gulf, ...unless there are any exceptions I don't know of. Really doesn't matter whose hand the revolver was in when it messed up all those people's lives.

[Phil1]

On a sidebar, BP owned (a moderatly recent purchase at the time) the Alaskan Pipeline. They displayed some level of mismanagement on the pipeline maintenance which was the cause of a major spill on land. Evidently the pipe actually wears out or erodes in spots and needs repair which they failed to do. This was before the Exxon spill. Both of course have survived and the areas and fisheries cleaned up fairly well.

Regarding BP going BK, BP is HUGE. It will take a few more spills of this size to put them on the ropes. Sorry to bust in on some wet dreams in progress. In the mean time, those that really hate oil please unload your cars, plastic cameras, refrigerators, plastic clothes, sports shoes, TVs, PCs and switch to organic bicycle tires (maybe sausage casings). Do support the efforts to dig up all the asphault roads in the country as well. Lets walk the talk and not support the dasterdly deed doers. Oil is not going anywhere soon.

A pretty good back ground on the events so far MSNBC
http://www.msnbc.msn.com/id/37533527/ns/us_news-the_new_york_times//

[Peter Zack]

Peter, something has bothered me about this thread ever since you posted it, and it just finally dawned on me what it is. It is the title, specifically the "bankruptcy" part. I don't know how things work in Canada, but in the U.S., bankruptcy is basically a way of saying to your creditors "F--- you, chump!; and you get to start over. That is a WAY better resolution than BP deserves.

Jim, here it means, that's it I'm done. Everything is liquidated and the company would be dissolved. We don't allow a chapter 11 which really means screw your creditors.

---------- Post added 06-06-2010 at 02:02 AM ----------

Of course I realize this company is massive and can easily cover whatever the costs will be. It would be nice to see their US assets seized though and booted out of the country. Make an example of them.

[Phil1]

...and what happens to BP stock holders? Screw 'em? I am not one of them FYI. The US assets would be sold to a BP replacement. Then what? You still have a US gov't that can't seems to get things done according to recent history and the present clowns are no better than the old clowns as most of them are the same. The problem is bigger tha BP I am afraid.

[Phil1]

I was half listening to a short debate on adding special gas taxes for clean up costs for this and future spills. It looks like John Q. will likely be taking it in the shorts again for gov't and corporate mismanagement. WTH else is new?

[Peter Zack]

Well we wouldn't want the shareholders to loose any money.....

...and what happens to BP stock holders? Screw 'em? I am not one of them FYI. The US assets would be sold to a BP replacement. Then what? You still have a US gov't that can't seems to get things done according to recent history and the present clowns are no better than the old clowns as most of them are the same. The problem is bigger tha BP I am afraid.

Barry could just chicago them into submission. Still wondering which is worse. The Mafia or the District of Chicago.

[shooz]

The answer and cure is in our hands.
Apply the RICO act on all people (orginizations) involved.
This was done in collusion.

Grand juries and incarceration for all involved until it's settled.

The answer and cure is in our hands.
Apply the RICO act on all people (orginizations) involved.
This was done in collusion.

Grand juries and incarceration for all involved until it's settled.

I'll agree with that. First lockup is Barry. Then Algore.

[shooz]

Don't you mean Jimmy and Barney?
You make little sense.

Don't you mean Jimmy and Barney?
You make little sense.

Jimmy and Elmer are financial.