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Thread: Can the U.S. take over BP America?

  1. #16
    Elite Member MrsMarsters's Avatar
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    What would be the benefit of not allowing BP to sink? I don't know anything about these type of things, should they even be bailed out? Where do we get the money to bail them out?

  2. #17
    Elite Member NVash's Avatar
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    Really? Their stock is going down? I cant believe it! Is it wrong that this news makes me happy? One good thing to come out of this disaster at least. Im trying to keep a good attitude here.

  3. #18
    Elite Member Grimmlok's Avatar
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    Meh, the GOp is always screeching about poor people having to tough it out if they lose their job, well BP can bankrupt itself cleaning the mess it made.

    Fuck em.
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  4. #19
    Friend of Gossip Rocks! buttmunch's Avatar
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    If the US government takes over then it's more likely that the taxpayers will foot the bill, partly because the American branch of the company isn't worth shit at the moment. Like I said, it's lose-lose and has been since the beginning. All those BP execs and middle management who ignored the safety of their workers and the environment? Bring every single one of them up on charges. And to all those tea baggers and repugs (same thing in most cases) who wnat to dismantle the EPA? Fuck you and go swim in the Gulf.
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  5. #20
    Elite Member ana-mish-ana's Avatar
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    Quote Originally Posted by MrsMarsters View Post
    What would be the benefit of not allowing BP to sink? I don't know anything about these type of things, should they even be bailed out? Where do we get the money to bail them out?
    A lot of British pensions are tied up with BP stock - so if they go down they lost a substantial amount of their pensions which is the main reason why the rightwing press has gone bonkers over this. Fact is like Grim said once this affects other shores like in Europe the fallout is going to be beyond arguing who is to blame and lost pensions. Fishing and environmental costs is just beyond comprehension and I don't think a lot people have actually realised this. But this might the straw that broke the camel's back about actually weaning ourselves off oil and looking and investing in other forms of energy because sooner or later something like this would have happened and all of the oil companies are just as bad if nor worse as BP - they only care about the bottom line which was the main reason why the accident happened due to cost cutting and greed as well as stupidity.

  6. #21
    Elite Member MrsMarsters's Avatar
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    ^^Thank you. I wonder if this will be the straw that finally brings more attention to alternatives to oil?

  7. #22
    Friend of Gossip Rocks! buttmunch's Avatar
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    My in-laws and I were discussing a lot of this last night and we agreed that although this is awful the one good thing that could come out of it is that maybe, just maybe, people will realize that destroying the environment is not worth the stock dividends or even being able to buy loads of shit cheaply. The last fifty years has seen corporations growing stronger and stronger and the sheeple going along with it because it means they can get their (non-biodegradable) diapers, toys, clothes, food, etc. cheap at the cost of the environment and the democratization of third world countries. It's sick, it's sad but it is the way it is. Only when the first world decides to stop buying into that mindset will things change. Don't go to walmart or kmart or any other place that uses cheap labour, dodgy business practices and screws the environment. Don't use you car for everything. Get off your ass and walk a couple of miles for that carton of milk. Hey! Take the heathens with you and do it a few times a week and not only will you hit the big corps where they hurt but you'll help solve that tesky obesity problem and live longer! Woohoo! Everyone wins except the fatcats on Wall Street!
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  8. #23
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    Quote Originally Posted by buttmunch View Post
    Everyone wins except the fatcats on Wall Street!
    That is completely un-Amercian! How dare you suggest it! What are you, a Commie of a Fascist!

    I watched an interview with Jindal (R-Gov-LA) the other night. He was putting up his force fields against any questions that might blame BP for anything. "The people of Louisiana are resourceful!" was about all he would say.
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    Elite Member witchcurlgirl's Avatar
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    Quote Originally Posted by ana-mish-ana View Post
    A lot of British pensions are tied up with BP stock - so if they go down they lost a substantial amount of their pensions which is the main reason why the rightwing press has gone bonkers over this..
    A lot of American ones as well. I heard on the news yesterday that many US states have their employee pensions heavily invested in BP stock.



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  10. #25
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    Quote Originally Posted by olivia View Post
    That is completely un-Amercian! How dare you suggest it! What are you, a Commie of a Fascist!

    I watched an interview with Jindal (R-Gov-LA) the other night. He was putting up his force fields against any questions that might blame BP for anything. "The people of Louisiana are resourceful!" was about all he would say.

    Jindal is an asshole shill of the GOP. Fuck him and every other governor in the area who is trying to downplay this.
    Quote Originally Posted by witchcurlgirl View Post
    A lot of American ones as well. I heard on the news yesterday that many US states have their employee pensions heavily invested in BP stock.
    That's what happens when you privitize Social Security. I was able to do it in one country where we have pensions and we were in charge and made sure it went to stocks that were on the up and up, to the detriment of our pension, at the moment at least.
    'Those who sacrifice liberty for security deserve neither.' Ben Franklin

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  11. #26
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    Even now, BP has a market cap of over 100 billion. They are highly profitable and pay out a considerable dividend. BP can weather paying out tens of billions of dollars.

    BP: Summary for BP p.l.c. Common Stock- Yahoo! Finance

    I agree that the Obama admin. should keep pressing BP to pay all the damages. I also agree with conducting criminal investigations (as is being done by the DOJ). I'm just not sure what will be gained by putting BP under temporary receivership. Will that get the relief well finished more quickly? Will that minimize the environmental damage?
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  12. #27
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    Quote Originally Posted by visitor42 View Post
    I'm just not sure what will be gained by putting BP under temporary receivership. Will that get the relief well finished more quickly? Will that minimize the environmental damage?
    Well, it could get actual scientists inside the containment area to make assessments. BP has closed the site to everyone, not just journalists. It's BP who is forcing the hand of gov't to take over just to see what's actually going on down there.

    The relief well is no guarantee, BTW. August is an optimistic deadline. Wells can take years to drill.
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  13. #28
    Elite Member Novice's Avatar
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    So.... No one has anything to say about the other TWO companies that have interests in this well? Who's betting that they are American?
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  14. #29
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    Quote Originally Posted by Novice View Post
    So.... No one has anything to say about the other TWO companies that have interests in this well? Who's betting that they are American?
    Transocean and Haliburton?

    According to the survivors, BP pulled rank on Transocean and ordered them to fill the pumps with sea water rather than mud. This is what led to the melt down.

    I think there was a hell of a lot of neglect at that rig, enough for criminal charges for all three.
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    Quote Originally Posted by olivia View Post
    Well, it could get actual scientists inside the containment area to make assessments. BP has closed the site to everyone, not just journalists. It's BP who is forcing the hand of gov't to take over just to see what's actually going on down there.
    That makes sense. I'd still like to know if that would happen. What precedent is there for such a temporary receivership.

    The relief well is no guarantee, BTW. August is an optimistic deadline. Wells can take years to drill.
    Sigh.. you are probably right.
    Tea baggers want to fight the Man because the Man doesn't look like them.

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