# BP going bankrupt! stocks down 15%!!



## blu

Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com


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## boedicca

What a self-destructive display of schadenfreude.

If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.


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## ConHog

boedicca said:


> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.



No shit I was thinking the exact same thing . More proof that people are stupid.

Kind of like idiots who say, well I'm going to buy a new car but it damn sure aint gonna be a GM since they took government money  moron the more cars GM sells the faster they can pay us back LOL


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## sangha

boedicca said:


> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.



A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.

Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground

It's the shareholders who will take haircut.


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## boedicca

Well, I'm still not going to buy a GM car.    I never like them before they turned into bailoutees.


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## ConHog

sangha said:


> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
Click to expand...



well, fuck those shareholders right. I mean let's go get BP.


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## Avatar4321

If BP's stock price is dropping that much, Id consider investing.

Seriously, how exactly are they supposed to clean up the oil spill if they have no money people? I know you guys like punishing people arbitrarily but think about this alittle.


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## boedicca

It's the same type of attitude displayed by people who clamor to raise taxes on The Rich, only to find that once The Rich have less money to invest, there are less decent jobs for the "clarmorers".


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## sangha

ConHog said:


> sangha said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> Click to expand...
> 
> 
> 
> well, fuck those shareholders right. I mean let's go get BP.
Click to expand...


I shed no tears for BP shareholders (of which I'm one) losing money


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## ConHog

Avatar4321 said:


> If BP's stock price is dropping that much, Id consider investing.
> 
> Seriously, how exactly are they supposed to clean up the oil spill if they have no money people? I know you guys like punishing people arbitrarily but think about this alittle.




People like sangha don't let thinking get in their way. LOL In another thread he called picketing an act of terrorism. ROFL


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## blu

ConHog said:


> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> No shit I was thinking the exact same thing . More proof that people are stupid.
> 
> Kind of like idiots who say, well I'm going to buy a new car but it damn sure aint gonna be a GM since they took government money  moron the more cars GM sells the faster they can pay us back LOL
Click to expand...


as if anyone us of will see the repaid money


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## blu

boedicca said:


> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.



isn't that how it capitalism is supposed to work? company X fucks up, goes out of business and then other companies buy up their profitable portions and retain many of the existing employees? isn't that ho aig, etc should have been handled?


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## ConHog

blu said:


> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> isn't that how it capitalism is supposed to work? company X fucks up, goes out of business and then other companies buy up their profitable portions and retain many of the existing employees? isn't that ho aig, etc should have been handled?
Click to expand...



Do you really think companies are going to line up to buy BP right now with the huge liability which they, rightfully, have hanging over them right now?


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## blu

ConHog said:


> sangha said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> Click to expand...
> 
> 
> 
> well, fuck those shareholders right. I mean let's go get BP.
Click to expand...


the shareholders will lose due to bad investment. that is how the market works. you aren't guaranteed success


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## boedicca

Yes.  Capitalism does involve destruction as well as creation.  That's perfectly natural.

What I'm objecting to is the hastening and/or manufacturing of that condition by the government - and the hypocrisy of those who don't understand how destructive their failure would be at this particular time.   It's nothing to cheer on, unless one is a masochistic sadist.


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## blu

ConHog said:


> blu said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> isn't that how it capitalism is supposed to work? company X fucks up, goes out of business and then other companies buy up their profitable portions and retain many of the existing employees? isn't that ho aig, etc should have been handled?
> 
> Click to expand...
> 
> 
> 
> Do you really think companies are going to line up to buy BP right now with the huge liability which they, rightfully, have hanging over them right now?
Click to expand...


I think you need an economics lesson. other companies will buy BP assessts, existing contracts, etc, none of which are a liability


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## blu

boedicca said:


> Yes.  Capitalism does involve destruction as well as creation.  That's perfectly natural.
> 
> What I'm objecting to is the hastening and/or manufacturing of that condition by the government - and the hypocrisy of those who don't understand how destructive their failure would be at this particular time.   It's nothing to cheer on, unless one is a masochistic sadist.



the government didn't force BP to perform sub par work leading to the disaster. and again, bp going otu of business would hurt for a little bit but much of their assessts and resources would be bought up by other businesses


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## boedicca

The oil industry is one of the most heavily regulated in the U.S. - that's worked out really well.


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## dilloduck

blu said:


> boedicca said:
> 
> 
> 
> Yes.  Capitalism does involve destruction as well as creation.  That's perfectly natural.
> 
> What I'm objecting to is the hastening and/or manufacturing of that condition by the government - and the hypocrisy of those who don't understand how destructive their failure would be at this particular time.   It's nothing to cheer on, unless one is a masochistic sadist.
> 
> 
> 
> 
> the government didn't force BP to perform sub par work leading to the disaster. and again, bp going otu of business would hurt for a little bit but much of their assessts and resources would be bought up by other businesses
Click to expand...


Hurt whom for this "little bit" ?


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## blu

dilloduck said:


> blu said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> Yes.  Capitalism does involve destruction as well as creation.  That's perfectly natural.
> 
> What I'm objecting to is the hastening and/or manufacturing of that condition by the government - and the hypocrisy of those who don't understand how destructive their failure would be at this particular time.   It's nothing to cheer on, unless one is a masochistic sadist.
> 
> 
> 
> 
> the government didn't force BP to perform sub par work leading to the disaster. and again, bp going otu of business would hurt for a little bit but much of their assessts and resources would be bought up by other businesses
> 
> Click to expand...
> 
> 
> Hurt whom for this "little bit" ?
Click to expand...


the workers and people depending on BPs work and viability


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## dilloduck

blu said:


> dilloduck said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> the government didn't force BP to perform sub par work leading to the disaster. and again, bp going otu of business would hurt for a little bit but much of their assessts and resources would be bought up by other businesses
> 
> 
> 
> 
> Hurt whom for this "little bit" ?
> 
> Click to expand...
> 
> 
> the workers and people depending on BPs work and viability
Click to expand...


How many people do you think that is ?


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## sangha

boedicca said:


> Yes.  Capitalism does involve destruction as well as creation.  That's perfectly natural.
> 
> What I'm objecting to is the hastening and/or manufacturing of that condition by the government - and the hypocrisy of those who don't understand how destructive their failure would be at this particular time.   It's nothing to cheer on, unless one is a masochistic sadist.



The govt is making BP stock go down. BP shareholders are.

Blame them


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## WillowTree

lefties will cream and the unemployment records will rise and all in unison will blame booooooooooooooooooooooooooooooooooosh.


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## boedicca

I'm not talking about the stock price - I'm discussing the company's financial solvency and the threat of bankruptcy.    Celebrating BP's potential insolvency is stupid and self-destructive.


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## sangha

boedicca said:


> I'm not talking about the stock price - I'm discussing the company's financial solvency and the threat of bankruptcy.    Celebrating BP's potential insolvency is stupid and self-destructive.



Then you are very confused. A low stock price does not cause bankruptcy. BP isn't going bankrupt


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## boedicca

No, you're confused.   Read the article for comprehension and retention.

The stock price is going down due to investor financial concerns.   blu is happy about both - and claims that BP may go bankrupt.  I have commented specifically on the bankruptcy aspect.


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## sangha

boedicca said:


> No, you're confused.   Read the article for comprehension and retention.
> 
> The stock price is going down due to investor fears of bankruptcy.   blu is happy about both.  I have commented specifically on the bankruptcy aspect.



"fear of bankruptcy" is not "bankruptcy"

Just because investors are panicking, that doesn't mean BP is going bankrupt

For example, many people are storing food and supplies in anticipation of Armegeddon. Their fears are not indicative of what's really going on.

BP has the money to get through this.


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## boedicca

Then take it up with blu.  He's the one who is dancing a jig over the prospect of BP's untimely demise.


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## sangha

boedicca said:


> Then take it up with blu.  He's the one who is dancing a jig over the prospect of BP's untimely demise.



My apologies, then. I thought your concerns were for the workers, not what one poster on the Internet has to say


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## SFC Ollie

ConHog said:


> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> No shit I was thinking the exact same thing . More proof that people are stupid.
> 
> Kind of like idiots who say, well I'm going to buy a new car but it damn sure aint gonna be a GM since they took government money  moron the more cars GM sells the faster they can pay us back LOL
Click to expand...


Actually i never will buy a GM. Strictly Fords, for a reason. But that is a whole different story.


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## boedicca

To Sangha:

They are, you idiot. (clue: start with post #2.)  But I've already noted your lack of reading comprehension and retention, so I won't repeat the observation.


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## blu

WillowTree said:


> lefties will cream and the unemployment records will rise and all in unison will blame booooooooooooooooooooooooooooooooooosh.



please don't post in my thread unless you have something useful to say


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## blu

sangha said:


> boedicca said:
> 
> 
> 
> No, you're confused.   Read the article for comprehension and retention.
> 
> The stock price is going down due to investor fears of bankruptcy.   blu is happy about both.  I have commented specifically on the bankruptcy aspect.
> 
> 
> 
> 
> "fear of bankruptcy" is not "bankruptcy"
> 
> Just because investors are panicking, that doesn't mean BP is going bankrupt
> 
> For example, many people are storing food and supplies in anticipation of Armegeddon. Their fears are not indicative of what's really going on.
> 
> BP has the money to get through this.
Click to expand...


they have no idea how much this will cost BP, because they still don't know how much oil leaked, how far it will spread, and how many people & businesses it will effect.  until then you can't say they won't go bankrupt but as of now it looks like they will and they deserve to for the shit they caused


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## dilloduck

blu said:


> sangha said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> No, you're confused.   Read the article for comprehension and retention.
> 
> The stock price is going down due to investor fears of bankruptcy.   blu is happy about both.  I have commented specifically on the bankruptcy aspect.
> 
> 
> 
> 
> "fear of bankruptcy" is not "bankruptcy"
> 
> Just because investors are panicking, that doesn't mean BP is going bankrupt
> 
> For example, many people are storing food and supplies in anticipation of Armegeddon. Their fears are not indicative of what's really going on.
> 
> BP has the money to get through this.
> 
> Click to expand...
> 
> 
> they have no idea how much this will cost BP, because they still don't know how much oil leaked, how far it will spread, and how many people & businesses it will effect.  until then you can't say they won't go bankrupt but as of now it looks like they will and they deserve to for the shit they caused
Click to expand...


and all the people have invested in them or are dependening on them to stay afloat ?
do they (we ) deserve it too ?


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## Toro

This is simple.

BP is going to have to pay for the clean-up.  If the liabilities from the clean-up plus all their other liabilities exceed the value of their assets, then they are bankrupt.  If all their liabilities are less than their assets, then they are not bankrupt.

This is neither "good" nor "bad" pertaining to the oil spill.  It just is.  BP would attempt to enter a pre-packaged bankruptcy to ascertain their total liabilities.


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## Big Fitz

You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.

Would serve the ecofascists right.


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## blu

dilloduck said:


> blu said:
> 
> 
> 
> 
> 
> sangha said:
> 
> 
> 
> "fear of bankruptcy" is not "bankruptcy"
> 
> Just because investors are panicking, that doesn't mean BP is going bankrupt
> 
> For example, many people are storing food and supplies in anticipation of Armegeddon. Their fears are not indicative of what's really going on.
> 
> BP has the money to get through this.
> 
> 
> 
> 
> they have no idea how much this will cost BP, because they still don't know how much oil leaked, how far it will spread, and how many people & businesses it will effect.  until then you can't say they won't go bankrupt but as of now it looks like they will and they deserve to for the shit they caused
> 
> Click to expand...
> 
> 
> and all the people have invested in them or are dependening on them to stay afloat ?
> do they (we ) deserve it too ?
Click to expand...


you may not deserve it but that is how capitalism works


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## blu

Big Fitz said:


> You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.
> 
> Would serve the ecofascists right.



actually, all of their assets would be sold and then used for whatever liabilities they still owed. it would be the owners and investors in the company who would lose out


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## ConHog

SFC Ollie said:


> ConHog said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> No shit I was thinking the exact same thing . More proof that people are stupid.
> 
> Kind of like idiots who say, well I'm going to buy a new car but it damn sure aint gonna be a GM since they took government money  moron the more cars GM sells the faster they can pay us back LOL
> 
> Click to expand...
> 
> 
> Actually i never will buy a GM. Strictly Fords, for a reason. But that is a whole different story.
Click to expand...


No, I agree there can be valid reasons for choosing not to by GM, but babbling about "they took our money" isn't one of them.


----------



## Toro

Big Fitz said:


> You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.
> 
> Would serve the ecofascists right.



Bankruptcy does not mean they won't pay.  What it means is that they will know how much they would have to pay.  That's all.

As it stands, BP cannot go bankrupt right now.  A pre-packaged bankruptcy allows BP to know what they would have to pay out in total.  It would almost certainly wipe out shareholders.  That is why the stock of BP got crushed today.


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## ConHog

Toro said:


> Big Fitz said:
> 
> 
> 
> You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.
> 
> Would serve the ecofascists right.
> 
> 
> 
> 
> Bankruptcy does not mean they won't pay.  What it means is that they will know how much they would have to pay.  That's all.
> 
> As it stands, BP cannot go bankrupt right now.  A pre-packaged bankruptcy allows BP to know what they would have to pay out in total.  It would almost certainly wipe out shareholders.  That is why the stock of BP got crushed today.
Click to expand...



You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts


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## Mini 14

Almost 30% of BP's stock is held by US citizens/corporations, which represents the largest demographic of their stockholders. 30% of $100,000,000,000.00 would be a noticeable hit to the US markets, and would affect a lot more than just BP shareholders.

I don't see them going bankrupt either, and I don't see them paying the total bill for all of this. That number may never be known.


----------



## blu

Toro said:


> Big Fitz said:
> 
> 
> 
> You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.
> 
> Would serve the ecofascists right.
> 
> 
> 
> 
> Bankruptcy does not mean they won't pay.  What it means is that they will know how much they would have to pay.  That's all.
> 
> As it stands, BP cannot go bankrupt right now.  A pre-packaged bankruptcy allows BP to know what they would have to pay out in total.  It would almost certainly wipe out shareholders.  That is why the stock of BP got crushed today.
Click to expand...


but they still have to wait for the leak to end before bankruptcy right?


----------



## blu

ConHog said:


> Toro said:
> 
> 
> 
> 
> 
> Big Fitz said:
> 
> 
> 
> You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.
> 
> Would serve the ecofascists right.
> 
> 
> 
> 
> Bankruptcy does not mean they won't pay.  What it means is that they will know how much they would have to pay.  That's all.
> 
> As it stands, BP cannot go bankrupt right now.  A pre-packaged bankruptcy allows BP to know what they would have to pay out in total.  It would almost certainly wipe out shareholders.  That is why the stock of BP got crushed today.
> 
> Click to expand...
> 
> 
> 
> You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts
Click to expand...


no one is going to buy 'bp', somene will buy up their assessts and resources though


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## txlonghorn

sangha said:


> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
Click to expand...


So you think other oil companies will invest in a bunch of oil wells that are prone to explosions and leaks?  And what about the moratorium on all drilling that is currently under consideration?  That will shut down even MORE jobs from ALL oil companies.  Not just BP.


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## SFC Ollie

txlonghorn said:


> sangha said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> Click to expand...
> 
> 
> So you think other oil companies will invest in a bunch of oil wells that are prone to explosions and leaks?  And what about the moratorium on all drilling that is currently under consideration?  That will shut down even MORE jobs from ALL oil companies.  Not just BP.
Click to expand...


Well The Administration needs something to blame for the high unemployment numbers. Even they are beginning to see that Blame Bush is wearing thin.


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## sangha

txlonghorn said:


> sangha said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> Click to expand...
> 
> 
> So you think other oil companies will invest in a bunch of oil wells that are prone to explosions and leaks?  And what about the moratorium on all drilling that is currently under consideration?  That will shut down even MORE jobs from ALL oil companies.  Not just BP.
Click to expand...


BP doesn't own the wells. They own permits, and yes, other companies will buy the permits. Also, the wells aren't prone to explosions and leaks anymore than any other well.


----------



## Big Fitz

blu said:


> ConHog said:
> 
> 
> 
> 
> 
> Toro said:
> 
> 
> 
> Bankruptcy does not mean they won't pay.  What it means is that they will know how much they would have to pay.  That's all.
> 
> As it stands, BP cannot go bankrupt right now.  A pre-packaged bankruptcy allows BP to know what they would have to pay out in total.  It would almost certainly wipe out shareholders.  That is why the stock of BP got crushed today.
> 
> 
> 
> 
> 
> You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts
> 
> Click to expand...
> 
> 
> no one is going to buy 'bp', somene will buy up their assessts and resources though
Click to expand...

right.  And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?

I keep remembering a scene from Tiny Toons "How I spent my Summer Vacation" blowing up a dam to get Buster Bunny wet... as the tsunami of water washes down over everything she stops her maniacal laughing and sez in a semi innocent voice.... "Perhaps I've gone too far...?"

That's how I feel about the econazis drooling to pounce on BP's still quivering corpse.  Perhapse you've gone too far.


----------



## blu

Big Fitz said:


> blu said:
> 
> 
> 
> 
> 
> ConHog said:
> 
> 
> 
> You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts
> 
> 
> 
> 
> no one is going to buy 'bp', somene will buy up their assessts and resources though
> 
> Click to expand...
> 
> right.  And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?
> 
> I keep remembering a scene from Tiny Toons "How I spent my Summer Vacation" blowing up a dam to get Buster Bunny wet... as the tsunami of water washes down over everything she stops her maniacal laughing and sez in a semi innocent voice.... "Perhaps I've gone too far...?"
> 
> That's how I feel about the econazis drooling to pounce on BP's still quivering corpse.  Perhapse you've gone too far.
Click to expand...


I am not an econazi and no is one to blame but BP and their lax standards and practices


----------



## SFC Ollie

blu said:


> Big Fitz said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> no one is going to buy 'bp', somene will buy up their assessts and resources though
> 
> 
> 
> right.  And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?
> 
> I keep remembering a scene from Tiny Toons "How I spent my Summer Vacation" blowing up a dam to get Buster Bunny wet... as the tsunami of water washes down over everything she stops her maniacal laughing and sez in a semi innocent voice.... "Perhaps I've gone too far...?"
> 
> That's how I feel about the econazis drooling to pounce on BP's still quivering corpse.  Perhapse you've gone too far.
> 
> Click to expand...
> 
> 
> I am not an econazi and no is one to blame but BP and their lax standards and practices
Click to expand...


Ah, and we know this without an investigation.....OK.....


----------



## sangha

Big Fitz said:


> blu said:
> 
> 
> 
> 
> 
> ConHog said:
> 
> 
> 
> You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts
> 
> 
> 
> 
> no one is going to buy 'bp', somene will buy up their assessts and resources though
> 
> Click to expand...
> 
> right.  And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?.
Click to expand...


It doesn't matter. The money from selling assets will be used to pay off BP's creditors, which will include the USG and the people who have been harmed by the leak


----------



## SFC Ollie

sangha said:


> Big Fitz said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> no one is going to buy 'bp', somene will buy up their assessts and resources though
> 
> 
> 
> right.  And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?.
> 
> Click to expand...
> 
> 
> It doesn't matter. The money from selling assets will be used to pay off BP's creditors, which will include the USG and the people who have been harmed by the leak
Click to expand...


I have a feeling that BP is going to need quite a few years of making a profit before they can pay for all that they will be expected to pay.


----------



## Big Fitz

sangha said:


> Big Fitz said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> no one is going to buy 'bp', somene will buy up their assessts and resources though
> 
> 
> 
> right.  And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?.
> 
> Click to expand...
> 
> 
> It doesn't matter. The money from selling assets will be used to pay off BP's creditors, which will include the USG and the people who have been harmed by the leak
Click to expand...

and then who's going to pony up the dough?  Who's going to hire the employees back?  Who's going to do the work?  All the while oil's bubbling out of the friggen ground.

You scream hurrah, and you do so while slicing open your own belly.


----------



## sangha

Big Fitz said:


> sangha said:
> 
> 
> 
> 
> 
> Big Fitz said:
> 
> 
> 
> right.  And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?.
> 
> 
> 
> 
> It doesn't matter. The money from selling assets will be used to pay off BP's creditors, which will include the USG and the people who have been harmed by the leak
> 
> Click to expand...
> 
> 
> 
> and then who's going to pony up the dough?
Click to expand...

BP



> Who's going to hire the employees back?



The companies that buy BP's assets



> Who's going to do the work?



BP's former employees who will find jobs with the companies that buy BP's assets


----------



## ConHog

SFC Ollie said:


> blu said:
> 
> 
> 
> 
> 
> Big Fitz said:
> 
> 
> 
> right.  And if that happens DURING clean up... or worst, before the leaks are capped, how screwed is the gulf then?
> 
> I keep remembering a scene from Tiny Toons "How I spent my Summer Vacation" blowing up a dam to get Buster Bunny wet... as the tsunami of water washes down over everything she stops her maniacal laughing and sez in a semi innocent voice.... "Perhaps I've gone too far...?"
> 
> That's how I feel about the econazis drooling to pounce on BP's still quivering corpse.  Perhapse you've gone too far.
> 
> 
> 
> 
> I am not an econazi and no is one to blame but BP and their lax standards and practices
> 
> Click to expand...
> 
> 
> Ah, and we know this without an investigation.....OK.....
Click to expand...


We don't need no stinkin investigation. Ignore the fact that BP has already pledged to do the right thing.


----------



## SFC Ollie

ConHog said:


> SFC Ollie said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> I am not an econazi and no is one to blame but BP and their lax standards and practices
> 
> 
> 
> 
> Ah, and we know this without an investigation.....OK.....
> 
> Click to expand...
> 
> 
> We don't need no stinkin investigation. Ignore the fact that BP has already pledged to do the right thing.
Click to expand...


But without an investigation, Obama won't know whose ass to kick. We'll simply have to spend another 500 million or so to find out whose ass needs kicked. And of course we'll also have to have someone to blame for the rise in the deficit and unemployment. See all this can be worked out during the investigation and instead of blaming Bush he can blame BP. A fresh new bad guy to help him keep his numbers.


----------



## ConHog

SFC Ollie said:


> ConHog said:
> 
> 
> 
> 
> 
> SFC Ollie said:
> 
> 
> 
> Ah, and we know this without an investigation.....OK.....
> 
> 
> 
> 
> We don't need no stinkin investigation. Ignore the fact that BP has already pledged to do the right thing.
> 
> Click to expand...
> 
> 
> But without an investigation, Obama won't know whose ass to kick. We'll simply have to spend another 500 million or so to find out whose ass needs kicked. And of course we'll also have to have someone to blame for the rise in the deficit and unemployment. See all this can be worked out during the investigation and instead of blaming Bush he can blame BP. A fresh new bad guy to help him keep his numbers.
Click to expand...


why bother? We already know who's fault this is


BOOOSH!!!!!!!!!!!


----------



## boedicca

Now we know how Obama is going to use the remaining Stimulus funds.  Once the Census is complete, he'll start a new Search For The Asses program and hire the 1.2M laid off Census works to find those whose asses he should kick.  That should easily use up $250M of funding (and prevent the unemployment figures from getting worse afer the census is done).


----------



## Political Junky

ConHog said:


> sangha said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> Click to expand...
> 
> 
> 
> well, fuck those shareholders right. I mean let's go get BP.
Click to expand...

BP just sent $billions to stockholders.


----------



## ConHog

boedicca said:


> Now we know how Obama is going to use the remaining Stimulus funds.  Once the Census is complete, he'll start a new Search For The Asses program and hire the 1.2M laid off Census works to find those whose asses he should kick.  That should easily use up $250M of funding (and prevent the unemployment figures from getting worse afer the census is done).




Brilliant, but I really feel he'll need extra funding to locate said asses. Stimulus 3 anyone?


----------



## ConHog

Political Junky said:


> ConHog said:
> 
> 
> 
> 
> 
> sangha said:
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> 
> 
> 
> 
> well, fuck those shareholders right. I mean let's go get BP.
> 
> Click to expand...
> 
> BP just sent $billions to stockholders.
Click to expand...



Yep, and they deserve it, I hope they also sent Obama an email that said "fuck you we paid our dividends"


----------



## SFC Ollie

boedicca said:


> Now we know how Obama is going to use the remaining Stimulus funds.  Once the Census is complete, he'll start a new Search For The Asses program and hire the 1.2M laid off Census works to find those whose asses he should kick.  That should easily use up $250M of funding (and prevent the unemployment figures from getting worse afer the census is done).



Actually, a local Non-Profit group (AKA community organizers) are trying to get some of the stimulus money to pay to open a swimming pool this summer that the city has said they cannot afford to open. You cannot make this shit up.


----------



## Mini 14

I wonder if calling the CEO of the company you've blamed it all on would give him any leads on whose ass to kick?

Maybe a postcard, or an email?

IDK....might be worth a try though.


----------



## ConHog

SFC Ollie said:


> boedicca said:
> 
> 
> 
> Now we know how Obama is going to use the remaining Stimulus funds.  Once the Census is complete, he'll start a new Search For The Asses program and hire the 1.2M laid off Census works to find those whose asses he should kick.  That should easily use up $250M of funding (and prevent the unemployment figures from getting worse afer the census is done).
> 
> 
> 
> 
> Actually, a local Non-Profit group (AKA community organizers) are trying to get some of the stimulus money to pay to open a swimming pool this summer that the city has said they cannot afford to open. You cannot make this shit up.
Click to expand...


Dude, if NASA can get $400M for climate change study, give them kids a swimming pool.


----------



## Political Junky

Corporations before people, is what the new right stands for.


----------



## ConHog

Political Junky said:


> Corporations before people, is what the new right stands for.



Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?


----------



## SFC Ollie

ConHog said:


> SFC Ollie said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> Now we know how Obama is going to use the remaining Stimulus funds.  Once the Census is complete, he'll start a new Search For The Asses program and hire the 1.2M laid off Census works to find those whose asses he should kick.  That should easily use up $250M of funding (and prevent the unemployment figures from getting worse afer the census is done).
> 
> 
> 
> 
> Actually, a local Non-Profit group (AKA community organizers) are trying to get some of the stimulus money to pay to open a swimming pool this summer that the city has said they cannot afford to open. You cannot make this shit up.
> 
> Click to expand...
> 
> 
> Dude, if NASA can get $400M for climate change study, give them kids a swimming pool.
Click to expand...


We used to go out and "find" pop bottles to make a dime so we could go to the pool. If they need to raise the price to open then so be it. Or if they have to ask for federal assistance OK ask away. But the stimulus has already been over abused for BS projects that do not create permanent jobs.


----------



## NYcarbineer

Enron disappeared.  Arthur Andersen all but disappeared.  Rightfully so, and we all didn't perish for it.


----------



## ConHog

SFC Ollie said:


> ConHog said:
> 
> 
> 
> 
> 
> SFC Ollie said:
> 
> 
> 
> Actually, a local Non-Profit group (AKA community organizers) are trying to get some of the stimulus money to pay to open a swimming pool this summer that the city has said they cannot afford to open. You cannot make this shit up.
> 
> 
> 
> 
> Dude, if NASA can get $400M for climate change study, give them kids a swimming pool.
> 
> Click to expand...
> 
> 
> We used to go out and "find" pop bottles to make a dime so we could go to the pool. If they need to raise the price to open then so be it. Or if they have to ask for federal assistance OK ask away. But the stimulus has already been over abused for BS projects that do not create permanent jobs.
Click to expand...


I was being facetious in comparing the cost of a pool to some of the other boondoggle's of the bloated stimulus package.


----------



## Political Junky

Jindal famously opposed the stimulus, but took $millions of it and distributed checks with *his* name on them.


----------



## ConHog

Political Junky said:


> Jindal famously opposed the stimulus, but took $millions of it and distributed checks with *his* name on them.



You do of course realize there were several hooks if a state turned down stimulus funds right?


----------



## sangha

ConHog said:


> Political Junky said:
> 
> 
> 
> Corporations before people, is what the new right stands for.
> 
> 
> 
> 
> Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?
Click to expand...


Corporations are not "composed of people". Corporations HIRE people. They are not made of people. They are made BY people.

And the employees will be able to get a job with whatever corporations take over BP's permits. Wells don't drill themselves.


----------



## ABikerSailor

ConHog said:


> Political Junky said:
> 
> 
> 
> Corporations before people, is what the new right stands for.
> 
> 
> 
> 
> Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?
Click to expand...


Hey Cum Hog, got a question for you there sportcheck.............

Let's say that I own a business that is national, and the product I put out puts people in the hospital.  Because the company is national, there are a couple thousand employees in my company.

I fail to follow proper procedures which is why the people got sick.  Do I get to stay in business because of the several thousand people that I employ?  I mean, only 30-50 people got sick, and only 1 or two died..........

It happened by the way, last year in Plainview TX with a peanut butter company that went out of business for getting people sick.  Why?  Unsanitary practices, as well as a failure to inspect things properly.

The company went out of business by the way.

BP had UNSAFE PRACTICES because they'd never drilled or thought about what could happen, instead deciding to trust technology.  They also failed to buy a sonic shutoff valve, as well as failed to test the BOP valves completely.

And you're saying they should stay in business?  How fucking stupid are you anyway, did you eat lead paint chips like Doritos as a child?


----------



## ConHog

ABikerSailor said:


> ConHog said:
> 
> 
> 
> 
> 
> Political Junky said:
> 
> 
> 
> Corporations before people, is what the new right stands for.
> 
> 
> 
> 
> Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?
> 
> Click to expand...
> 
> 
> Hey Cum Hog, got a question for you there sportcheck.............
> 
> Let's say that I own a business that is national, and the product I put out puts people in the hospital.  Because the company is national, there are a couple thousand employees in my company.
> 
> I fail to follow proper procedures which is why the people got sick.  Do I get to stay in business because of the several thousand people that I employ?  I mean, only 30-50 people got sick, and only 1 or two died..........
> 
> It happened by the way, last year in Plainview TX with a peanut butter company that went out of business for getting people sick.  Why?  Unsanitary practices, as well as a failure to inspect things properly.
> 
> The company went out of business by the way.
> 
> BP had UNSAFE PRACTICES because they'd never drilled or thought about what could happen, instead deciding to trust technology.  They also failed to buy a sonic shutoff valve, as well as failed to test the BOP valves completely.
> 
> And you're saying they should stay in business?  How fucking stupid are you anyway, did you eat lead paint chips like Doritos as a child?
Click to expand...


Hey queer biker, first you can hardly compare the two situations . oil spill =/= poisoning people. BUT let's look at a couple of factors.

1. That particular incident was not that companies first situation where customers were poisoned

2. That particular company went bankrupt because they didn't have the assets to cover their obligations, and stock holders weren't confident that they could ever turn it into a company that would be able to cover those assets.

So, a direct analogy is as worthless as you.


----------



## txlonghorn

ConHog said:


> Political Junky said:
> 
> 
> 
> Corporations before people, is what the new right stands for.
> 
> 
> 
> 
> Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?
Click to expand...


Can't rep you yet...so kudos


----------



## txlonghorn

ConHog said:


> ABikerSailor said:
> 
> 
> 
> 
> 
> ConHog said:
> 
> 
> 
> Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?
> 
> 
> 
> 
> Hey Cum Hog, got a question for you there sportcheck.............
> 
> Let's say that I own a business that is national, and the product I put out puts people in the hospital.  Because the company is national, there are a couple thousand employees in my company.
> 
> I fail to follow proper procedures which is why the people got sick.  Do I get to stay in business because of the several thousand people that I employ?  I mean, only 30-50 people got sick, and only 1 or two died..........
> 
> It happened by the way, last year in Plainview TX with a peanut butter company that went out of business for getting people sick.  Why?  Unsanitary practices, as well as a failure to inspect things properly.
> 
> The company went out of business by the way.
> 
> BP had UNSAFE PRACTICES because they'd never drilled or thought about what could happen, instead deciding to trust technology.  They also failed to buy a sonic shutoff valve, as well as failed to test the BOP valves completely.
> 
> And you're saying they should stay in business?  How fucking stupid are you anyway, did you eat lead paint chips like Doritos as a child?
> 
> Click to expand...
> 
> 
> Hey queer biker, first you can hardly compare the two situations . oil spill =/= poisoning people. BUT let's look at a couple of factors.
> 
> 1. That particular incident was not that companies first situation where customers were poisoned
> 
> 2. That particular company went bankrupt because they didn't have the assets to cover their obligations, and stock holders weren't confident that they could ever turn it into a company that would be able to cover those assets.
> 
> So, a direct analogy is as worthless as you.
Click to expand...


you got it...sportcheck....whatever that is...


----------



## Mr.Fitnah

Jobs jobs jobs
How many SEIU AFLCIO pensions will be  hurt by  this ?
Or Will  the Fascist power grab  continue?  Is BP to big to  fail?
Bail out incoming .


----------



## syrenn

If BP declares bankruptcy doesn't that mean all of their holdings are forfeit? Wouldn't that mean that WE would own all of BP? Sounds like a deal to me.


----------



## ConHog

syrenn said:


> If BP declares bankruptcy doesn't that mean all of their holdings are forfeit? Wouldn't that mean that WE would own all of BP? Sounds like a deal to me.



No that is not what it means. You do realize that BP is a British company and could simply dissolve and tell the USG to fuck off right? What is Obama going to to do , send marines to London to apprehend their CEO?


----------



## Toro

ConHog said:


> Toro said:
> 
> 
> 
> 
> 
> Big Fitz said:
> 
> 
> 
> You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.
> 
> Would serve the ecofascists right.
> 
> 
> 
> 
> Bankruptcy does not mean they won't pay.  What it means is that they will know how much they would have to pay.  That's all.
> 
> As it stands, BP cannot go bankrupt right now.  A pre-packaged bankruptcy allows BP to know what they would have to pay out in total.  It would almost certainly wipe out shareholders.  That is why the stock of BP got crushed today.
> 
> Click to expand...
> 
> 
> 
> You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts
Click to expand...


I'm not assuming anything.  It's irrelevant who might purchase BP.  No one might purchase BP.  They could easily come out of bankruptcy after the liabilities are known.


----------



## Toro

blu said:


> Toro said:
> 
> 
> 
> 
> 
> Big Fitz said:
> 
> 
> 
> You know... if BP goes bankrupt before the cleanup is complete, I'll laugh my ass off as cleanup efforts end for nobody's getting paid.
> 
> Would serve the ecofascists right.
> 
> 
> 
> 
> Bankruptcy does not mean they won't pay.  What it means is that they will know how much they would have to pay.  That's all.
> 
> As it stands, BP cannot go bankrupt right now.  A pre-packaged bankruptcy allows BP to know what they would have to pay out in total.  It would almost certainly wipe out shareholders.  That is why the stock of BP got crushed today.
> 
> Click to expand...
> 
> 
> but they still have to wait for the leak to end before bankruptcy right?
Click to expand...


No.


----------



## Mini 14

And now Maobama thinks he can hold BP accountable for all of the laid-off workers from the moratorium on off-shore drilling.

This is a comedy of errors that even Chaplain couldn't have dreamed up!


----------



## boedicca

ConHog said:


> syrenn said:
> 
> 
> 
> If BP declares bankruptcy doesn't that mean all of their holdings are forfeit? Wouldn't that mean that WE would own all of BP? Sounds like a deal to me.
> 
> 
> 
> 
> No that is not what it means. You do realize that BP is a British company and could simply dissolve and tell the USG to fuck off right? What is Obama going to to do , send marines to London to apprehend their CEO?
Click to expand...




The Brits are not going to be inclined to run any bankruptcy process to the benefit of the U.S. (if it gets to that point).  BP is a widely held stock, the dividends and stock price affect a great many people in the U.K.   The fact that the stock price has dropped 50% has already caused a great deal of damage to small investors and retirees.   The British government is not happy about this situation; and their is brewing sentiment that the Obama Administration's poor response and blame game have exacerbated the situation.


----------



## Mr. Peepers

> It's the same type of attitude displayed by people who clamor to raise taxes on The Rich, only to find that once The Rich have less money to invest, there are less decent jobs for the "clarmorers".



Bullshit.  The rich had a big tax break for 9 years and there are fewer available jobs now than BEFORE Bush took office and gave his cronies a tax cut... and credit is STILL in a stranglehold.  Yeah, they invest all right.  They invest in that shell company in the Caymans - not here.  I'm so tired of "only the rich can grow the economy if you relieve their tax burden".  Did that.  Know what?  IT DIDN'T DO ANY DAMN GOOD!!!  

No one will ever answer me as to what good the tax breaks did.  Maybe because they did no good?  Well, they made the already uber rich super uber rich.


----------



## boedicca

At the end of Bush's two terms, there was a net increase in total employment in the U.S.   Obama's oversight has resulted in a close to 2.5M net decrease in total employment. 

Massive amounts of debt to fuel pork and prop up government jobs doesn't stimulate the economy, bub.


----------



## ABikerSailor

ConHog said:


> ABikerSailor said:
> 
> 
> 
> 
> 
> ConHog said:
> 
> 
> 
> Don't know if you're aware of it, but corporations are composed of people (92,000 of them in BP's case) guess we don't care about the thousands and thousands of BP employees who undoubtedly did nothing wrong here?
> 
> 
> 
> 
> Hey Cum Hog, got a question for you there sportcheck.............
> 
> Let's say that I own a business that is national, and the product I put out puts people in the hospital.  Because the company is national, there are a couple thousand employees in my company.
> 
> I fail to follow proper procedures which is why the people got sick.  Do I get to stay in business because of the several thousand people that I employ?  I mean, only 30-50 people got sick, and only 1 or two died..........
> 
> It happened by the way, last year in Plainview TX with a peanut butter company that went out of business for getting people sick.  Why?  Unsanitary practices, as well as a failure to inspect things properly.
> 
> The company went out of business by the way.
> 
> BP had UNSAFE PRACTICES because they'd never drilled or thought about what could happen, instead deciding to trust technology.  They also failed to buy a sonic shutoff valve, as well as failed to test the BOP valves completely.
> 
> And you're saying they should stay in business?  How fucking stupid are you anyway, did you eat lead paint chips like Doritos as a child?
> 
> Click to expand...
> 
> 
> Hey queer biker, first you can hardly compare the two situations . oil spill =/= poisoning people. BUT let's look at a couple of factors.
> 
> 1. That particular incident was not that companies first situation where customers were poisoned
> 
> 2. That particular company went bankrupt because they didn't have the assets to cover their obligations, and stock holders weren't confident that they could ever turn it into a company that would be able to cover those assets.
> 
> So, a direct analogy is as worthless as you.
Click to expand...


So, explain to me why BP should stay in business.  C'mon ya spooge slurping Cum Hog, you can do it........

Tell me how in a free market, unsafe practices, shortcutting corners, bribing inspection officials as well as a major fuckup that is going to affect the ENTIRE PLANET for at least 10 years, that a company like that deserves to stay in business.

I'll wait until you finish your condom sandwich........


----------



## WillowTree

Mini 14 said:


> And now Maobama thinks he can hold BP accountable for all of the laid-off workers from the moratorium on off-shore drilling.
> 
> This is a comedy of errors that even Chaplain couldn't have dreamed up!



"never waste a good crisis" that's chicago thuggery at it's finest.


----------



## boedicca

The condemnation is premature.  We don't know what caused what at this point.


----------



## xsited1

blu said:


> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com



Dilbert's Scott Adams on Betting on the Bad Guys in Investing - WSJ.com


----------



## Mr. Peepers

> Massive amounts of debt to fuel pork and prop up government jobs doesn't stimulate the economy



And tax cuts to the already wealthy CERTAINLY don't stimulate the economy, do they?  In fact, I would argue that it made things much, much worse.  And, by the way, Bush has the worst employment track record of all time.

Studies Shed New Light on Effects of Administration?s Tax Cuts &mdash; Center on Budget and Policy Priorities

Bush On Jobs: The Worst Track Record On Record - Real Time Economics - WSJ


----------



## SFC Ollie

ABikerSailor said:


> ConHog said:
> 
> 
> 
> 
> 
> ABikerSailor said:
> 
> 
> 
> Hey Cum Hog, got a question for you there sportcheck.............
> 
> Let's say that I own a business that is national, and the product I put out puts people in the hospital.  Because the company is national, there are a couple thousand employees in my company.
> 
> I fail to follow proper procedures which is why the people got sick.  Do I get to stay in business because of the several thousand people that I employ?  I mean, only 30-50 people got sick, and only 1 or two died..........
> 
> It happened by the way, last year in Plainview TX with a peanut butter company that went out of business for getting people sick.  Why?  Unsanitary practices, as well as a failure to inspect things properly.
> 
> The company went out of business by the way.
> 
> BP had UNSAFE PRACTICES because they'd never drilled or thought about what could happen, instead deciding to trust technology.  They also failed to buy a sonic shutoff valve, as well as failed to test the BOP valves completely.
> 
> And you're saying they should stay in business?  How fucking stupid are you anyway, did you eat lead paint chips like Doritos as a child?
> 
> 
> 
> 
> Hey queer biker, first you can hardly compare the two situations . oil spill =/= poisoning people. BUT let's look at a couple of factors.
> 
> 1. That particular incident was not that companies first situation where customers were poisoned
> 
> 2. That particular company went bankrupt because they didn't have the assets to cover their obligations, and stock holders weren't confident that they could ever turn it into a company that would be able to cover those assets.
> 
> So, a direct analogy is as worthless as you.
> 
> Click to expand...
> 
> 
> So, explain to me why BP should stay in business.  C'mon ya spooge slurping Cum Hog, you can do it........
> 
> Tell me how in a free market, unsafe practices, shortcutting corners, bribing inspection officials as well as a major fuckup that is going to affect the ENTIRE PLANET for at least 10 years, that a company like that deserves to stay in business.
> 
> I'll wait until you finish your condom sandwich........
Click to expand...


Why should BP stay in Business? Simple if you would actually use your head. They have a lot of bills to pay. Bills that if they don't pay you and I will have to pay them. Why is this so difficult to understand? And you are condemning a company without any true knowledge of exactly what happened. What really did go wrong and whose fault is it? We simply do not know this yet.


----------



## ABikerSailor

Okay Bag Lady Delivery Douche Ollie........tell me..........just because people depend on them to make money, even in spite of many fuck ups, they should still be allowed to exist?

You really are stupid, even for an Army UPS Lady.


----------



## Immanuel

sangha said:


> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
Click to expand...


My question to you is this (and maybe it has been asked and answered later in the thread):

If BP goes belly up, who pays for the clean up of the frigging disaster that is threatening the Gulf Coast, and call me selfish, but that means my neighborhood as I live quite near the shores of Tampa Bay.  But even if I didn't, even if I lived in Jericho, KS (Yes, I know it is a fictional town but you get the idea) I'd want to know who the hell was going to clean up the gulf.

Immie


----------



## Immanuel

blu said:


> ConHog said:
> 
> 
> 
> 
> 
> Toro said:
> 
> 
> 
> Bankruptcy does not mean they won't pay.  What it means is that they will know how much they would have to pay.  That's all.
> 
> As it stands, BP cannot go bankrupt right now.  A pre-packaged bankruptcy allows BP to know what they would have to pay out in total.  It would almost certainly wipe out shareholders.  That is why the stock of BP got crushed today.
> 
> 
> 
> 
> 
> You're assuming someone would purchase them. I have a feeling there would be only one buyer, US. As in buying responsibility for the clean up and various bailouts
> 
> Click to expand...
> 
> 
> no one is going to buy 'bp', somene will buy up their assessts and resources though
Click to expand...


True, but for pennies on the dollar and the question is would that cover the cost of the cleanup.  

I truly doubt it will and that is the concern that I have.

Being unemployed, I am concerned about others entering the job market to, but on the top of my list is getting that leak plugged and getting the Gulf of Mexico cleaned up and protection of the beaches of Louisiana, Mississippi, Alabama and Florida.

Immie


----------



## SFC Ollie

ABikerSailor said:


> Okay Bag Lady Delivery Douche Ollie........tell me..........just because people depend on them to make money, even in spite of many fuck ups, they should still be allowed to exist?
> 
> You really are stupid, even for an Army UPS Lady.



Are you truly that ignorant? Are you ready to start paying the cleanup bills if BP goes under? I would much prefer that they continue to be a company and continue to employ people and continue to pay for this massive cleanup.

And no one can possibly be more stupid than a squid desk clerk. (since you want to keep that BS going)


----------



## PatekPhilippe

SFC Ollie said:


> ABikerSailor said:
> 
> 
> 
> Okay Bag Lady Delivery Douche Ollie........tell me..........just because people depend on them to make money, even in spite of many fuck ups, they should still be allowed to exist?
> 
> You really are stupid, even for an Army UPS Lady.
> 
> 
> 
> 
> Are you truly that ignorant? Are you ready to start paying the cleanup bills if BP goes under? I would much prefer that they continue to be a company and continue to employ people and continue to pay for this massive cleanup.
> 
> And no one can possibly be more stupid than a squid desk clerk. (since you want to keep that BS going)
Click to expand...


rdean?  Don't forget about rdean...   and notice when BS get's his/her ass handed to it they begin with the sexist rants....real indicative of what a modern day liberal represents.


----------



## PatekPhilippe

blu said:


> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com



Are you happy now?  Is your lust for vengeance against the evil corporation now sated?
GOOD...now get out your checkbook and pay for the clean-up.


----------



## California Girl

blu said:


> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com



That's fantastic.

Now the US taxpayer can fund the clean up.... and the compensation.... and every other cost to be met! YAY! 

And.... millions of pensioners will go without because they unknowingly owned stocks in BP! HORRAH! 

29,000 Americans can join the unemployment lines! RESULT! 

And, all those BP gas stations - the ones that are actually owned by people who have little to do with BP.... they and their families can get in line too - the one for food stamps. WHOOO HOOO! 

You people - and I mean those that "think" this is a good thing.... are, in fact, total fucking morons. You claim to care about your fellow man. Don't make me laugh.


----------



## blu

PatekPhilippe said:


> blu said:
> 
> 
> 
> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com
> 
> 
> 
> 
> 
> 
> Are you happy now?  Is your lust for vengeance against the evil corporation now sated?
> GOOD...now get out your checkbook and pay for the clean-up.
Click to expand...


why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?


----------



## blu

California Girl said:


> That's fantastic.



indeed



California Girl said:


> Now the US taxpayer can fund the clean up.... and the compensation.... and every other cost to be met! YAY!



bp will fund it to the tune of billions all the way until they finally close the doors



California Girl said:


> And.... millions of pensioners will go without because they unknowingly owned stocks in BP! HORRAH!



maybe people should invest their own money then instead of relying on 3rd parties?



California Girl said:


> 29,000 Americans can join the unemployment lines! RESULT!



and they will be rehired by the companies that buy bp's assessts as has been expplained numerous times in this thread. that is how the market generally works



California Girl said:


> And, all those BP gas stations - the ones that are actually owned by people who have little to do with BP.... they and their families can get in line too - the one for food stamps. WHOOO HOOO!



and they couldn't license through another oil provider why?



California Girl said:


> You people - and I mean those that "think" this is a good thing.... are, in fact, total fucking morons. You claim to care about your fellow man. Don't make me laugh.



generations old businesses and jobs have disappeared due to BP's negligence. I care about those people and all the other people affected by BP's criminal behavior


----------



## Sarah G

Do you all think anyone is going to allow BP to throw up their hands and walk away from this mess?

That will NEVER happen..  I don't care if their stock goes to minus a dollar.  They still have enough money made previously to cleanup and make things right, like they promised.


----------



## PatekPhilippe

blu said:


> PatekPhilippe said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com
> 
> 
> 
> 
> 
> 
> Are you happy now?  Is your lust for vengeance against the evil corporation now sated?
> GOOD...now get out your checkbook and pay for the clean-up.
> 
> Click to expand...
> 
> 
> why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?
Click to expand...


Apparently you are dumb as a box of rocks...once BP files for bankruptcy THEY ARE OFF THE HOOK FOR ANYTHING!!!!!!  So keep it up!!!!


----------



## blu

PatekPhilippe said:


> blu said:
> 
> 
> 
> 
> 
> PatekPhilippe said:
> 
> 
> 
> Are you happy now?  Is your lust for vengeance against the evil corporation now sated?
> GOOD...now get out your checkbook and pay for the clean-up.
> 
> 
> 
> 
> why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?
> 
> Click to expand...
> 
> 
> Apparently you are dumb as a box of rocks...once BP files for bankruptcy THEY ARE OFF THE HOOK FOR ANYTHING!!!!!!  So keep it up!!!!
Click to expand...


----------



## Immanuel

Anyone... hey Toro, you know this stuff, know where the U.S. Government would lie in terms of priority if a foreign corporation files for bankruptcy owing money the the U.S.?

My understanding is that the way it works here is the Debt to the government has first priority followed by secured debt i.e. mortgages, followed by bond-holders, then current debt i.e. A/P and finally the shareholders get what ever is left over if anything.  

Since BP is a foreign corporation, I am curious where the U.S. Government would sit in terms of priority.

Immie


----------



## PatekPhilippe

blu said:


> PatekPhilippe said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?
> 
> 
> 
> 
> Apparently you are dumb as a box of rocks...once BP files for bankruptcy THEY ARE OFF THE HOOK FOR ANYTHING!!!!!!  So keep it up!!!!
> 
> Click to expand...
Click to expand...


You're a screwball..thankyou..we knew that.


----------



## WillowTree

blu said:


> PatekPhilippe said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com
> 
> 
> 
> 
> 
> 
> Are you happy now?  Is your lust for vengeance against the evil corporation now sated?
> GOOD...now get out your checkbook and pay for the clean-up.
> 
> Click to expand...
> 
> 
> why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?
Click to expand...


nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook


----------



## blu

WillowTree said:


> blu said:
> 
> 
> 
> 
> 
> PatekPhilippe said:
> 
> 
> 
> Are you happy now?  Is your lust for vengeance against the evil corporation now sated?
> GOOD...now get out your checkbook and pay for the clean-up.
> 
> 
> 
> 
> why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?
> 
> Click to expand...
> 
> 
> nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook
Click to expand...


nope they have billions and that will be enough to cover damages for a long time


----------



## blu

PatekPhilippe said:


> blu said:
> 
> 
> 
> 
> 
> PatekPhilippe said:
> 
> 
> 
> Apparently you are dumb as a box of rocks...once BP files for bankruptcy THEY ARE OFF THE HOOK FOR ANYTHING!!!!!!  So keep it up!!!!
> 
> 
> 
> 
> 
> 
> Click to expand...
> 
> 
> You're a screwball..thankyou..we knew that.
Click to expand...


the answer to your asinine assumption is already in this thread numerous times


----------



## WillowTree

blu said:


> WillowTree said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?
> 
> 
> 
> 
> nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook
> 
> Click to expand...
> 
> 
> nope they have billions and that will be enough to cover damages for a long time
Click to expand...


nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..


----------



## PatekPhilippe

blu said:


> PatekPhilippe said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> 
> 
> 
> 
> 
> You're a screwball..thankyou..we knew that.
> 
> Click to expand...
> 
> 
> the answer to your asinine assumption is already in this thread numerous times
Click to expand...


No it isn't...apparently bankruptcy law isn't your strong suit so best that you keep your pie hole closed at this point.


----------



## blu

WillowTree said:


> blu said:
> 
> 
> 
> 
> 
> WillowTree said:
> 
> 
> 
> nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook
> 
> 
> 
> 
> nope they have billions and that will be enough to cover damages for a long time
> 
> Click to expand...
> 
> 
> nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..
Click to expand...


appeals to emotion don't work sorry, stockholders should have invested in a less evil company and people on mshould have fought for more diverse invesments


----------



## WillowTree

blu said:


> WillowTree said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> nope they have billions and that will be enough to cover damages for a long time
> 
> 
> 
> 
> nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..
> 
> Click to expand...
> 
> 
> appeals to emotion don't work sorry, stockholders should have invested in a less evil company and people on mshould have fought for more diverse invesments
Click to expand...









we'll just have to wait and see won' we?


----------



## PatekPhilippe

blu said:


> WillowTree said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> nope they have billions and that will be enough to cover damages for a long time
> 
> 
> 
> 
> nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..
> 
> Click to expand...
> 
> 
> appeals to emotion don't work sorry, stockholders should have invested in a less evil company and people on mshould have fought for more diverse invesments
Click to expand...


Bwa ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
It's the EVIL CORPORATIONS NOW???!!!


----------



## blu

PatekPhilippe said:


> blu said:
> 
> 
> 
> 
> 
> WillowTree said:
> 
> 
> 
> nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..
> 
> 
> 
> 
> appeals to emotion don't work sorry, stockholders should have invested in a less evil company and people on mshould have fought for more diverse invesments
> 
> Click to expand...
> 
> 
> Bwa ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
> It's the EVIL CORPORATIONS NOW???!!!
Click to expand...


as if bp isn't evil? did you miss my thread on them getting the lockerie bomber released?


----------



## PatekPhilippe

Ooooooh!!!!!  Now BP is complicent in terrorism!!!!  What's next...are they drilling a hole to the earth's core to insert and detonate a nuclear device so the world explodes?
C'mon now.....enough shit....LOOK AT THAT FUCKING SPILL CAM!!!!!!!


----------



## blu

PatekPhilippe said:


> Ooooooh!!!!!  Now BP is complicent in terrorism!!!!  What's next...are they drilling a hole to the earth's core to insert and detonate a nuclear device so the world explodes?
> C'mon now.....enough shit....LOOK AT THAT FUCKING SPILL CAM!!!!!!!



when we send ksm back to pakistan in order to drill there what will you say?


----------



## ABikerSailor

One thing I'm still wondering about this spill and the incompetence of BP.........

How much oil is REALLY coming out, and why haven't they figured it out yet?  Physicist Michio Kaku was on the news this morning and said that if they could get a 3D picture of it, they could mathematically figure it out.

Another way they could do it is to stick an anemometer (one of those things that tells windspeed) and figure out how fast the gusher is going.

Wanna know why they won't do that?  No, it's not because they don't have the equipment (they do), it's because they don't want us to REALLY know how bad it is.

Want more evidence I'm right?  They've spent many hours on the news trying to deny the existence of oil plumes, and divers are recording them on video.

No.  BP does not deserve to stay in existence.


----------



## Big Fitz

Speaking of incompetence, why did it take the administration 8 days from the blast to decide that this was an event warranting their attention and should get involved with doing something about it?

If we're going to talk incompetence, there's a lot of it to go around equally on the Obama Administration too.


----------



## Big Fitz

WillowTree said:


> blu said:
> 
> 
> 
> 
> 
> PatekPhilippe said:
> 
> 
> 
> Are you happy now?  Is your lust for vengeance against the evil corporation now sated?
> GOOD...now get out your checkbook and pay for the clean-up.
> 
> 
> 
> 
> why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?
> 
> Click to expand...
> 
> 
> nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook
Click to expand...

Blu isn't getting the standard business procedure called "pass the costs on to the consumer".  we all are going to pay with higher oil prices and probably taxes to boot.


----------



## WillowTree

Big Fitz said:


> WillowTree said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> why would i pay for the cleanup? BP is going to do it, that is whats bankrupting them... are you really that dense?
> 
> 
> 
> 
> nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook
> 
> Click to expand...
> 
> Blu isn't getting the standard business procedure called "pass the costs on to the consumer".  we all are going to pay with higher oil prices and probably taxes to boot.
Click to expand...


we are going to foot the bill for the clean up too. BP is obligated for 75 million dollars by US law. I think. Now I wonder who's bright idea that was?


----------



## Big Fitz

Wow oh wow!  Rolling Stone turns and eviscerates the President over his incompetence as a leader or even DELEGATOR of leadership.

The Spill, The Scandal and the President

Gotta love quotes like this:



> It's tempting to believe that the Gulf spill, like so many disasters inherited by Obama, was the fault of the Texas oilman who preceded him in office. But, though George W. Bush paved the way for the catastrophe, it was Obama who gave BP the green light to drill. "Bush owns eight years of the mess," says Rep. Darrell Issa, a Republican from California. "But after more than a year on the job, Salazar owns it too."



Huh... I guess it IS P-BO's disaster.  No blame shifting for you, P-BO.  You had ample time to stop it.


----------



## peter

WillowTree said:


> Big Fitz said:
> 
> 
> 
> 
> 
> WillowTree said:
> 
> 
> 
> nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook
> 
> 
> 
> Blu isn't getting the standard business procedure called "pass the costs on to the consumer".  we all are going to pay with higher oil prices and probably taxes to boot.
> 
> Click to expand...
> 
> 
> we are going to foot the bill for the clean up too. BP is obligated for 75 million dollars by US law. I think. Now I wonder who's bright idea that was?
Click to expand...


If it's true, then I don't understand why we haven't kicked BP out of cleaning. Besides, they're so horrible. The response from BP (and from president too) is so slow and inadequate ...


----------



## blu

75mil is civil only to the gov. there will be numerous class action law suits and criminal charges are already being filed. I also just read a report on nola.com that the oil spill is now known to be twice as big as they first thought


----------



## Colin

ConHog said:


> sangha said:
> 
> 
> 
> 
> 
> boedicca said:
> 
> 
> 
> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.
> 
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> Click to expand...
> 
> 
> 
> well, fuck those shareholders right. I mean let's go get BP.
Click to expand...


Typical ignoramus rhetoric! 39% of BP stock is held by US share holders and *pension funds *and 40% by UK shareholders and pension funds.  You obviously couldn't care less about the negative impact breaking BP will have on your own pensioners. 

Keeping the BP share price strong is in the interest of all, particularly the USA who needs BP to sort the clean up and compensation. If you can't see that then you are blind to reality and ignorant of facts.


----------



## peter

blu said:


> 75mil is civil only to the gov. there will be numerous class action law suits and criminal charges are already being filed. I also just read a report on nola.com that the oil spill is now known to be twice as big as they first thought



Still bad news coming ... This disaster will be hot theme long after everything would be cleaned.


----------



## California Girl

Colin said:


> ConHog said:
> 
> 
> 
> 
> 
> sangha said:
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> 
> 
> 
> 
> well, fuck those shareholders right. I mean let's go get BP.
> 
> Click to expand...
> 
> 
> Typical ignoramus rhetoric! 39% of BP stock is held by US share holders and *pension funds *and 40% by UK shareholders and pension funds.  You obviously couldn't care less about the negative impact breaking BP will have on your own pensioners.
> 
> Keeping the BP share price strong is in the interest of all, particularly the USA who needs BP to sort the clean up and compensation. If you can't see that then you are blind to reality and ignorant of facts.
Click to expand...


Indeed.... destroying BP might look good to the drooling hordes but, for anyone capable of critical thinking, it is not only a very bad thing - it is the worst possible outcome. BP employ 10,000 Brits and 29,000 Americans. They invest billions in renewable energy. They provide an income (via their shares) to some of the poorest in both countries. Those people rely on their pensions and the drooling hordes, with their pathetic hysterical rantings, have already cost those pensioners money that they cannot afford to lose. And they are no more guilty of any wrongdoing than the people whose jobs have been lost because of the spill. 

Americans should be ashamed of themselves. But many clearly are not smart enough to be.


----------



## Gatekeeper

Could this be an authentic BP picture? 

COMPANY RULES?

http://i50.tinypic.com/oqw4ep.jpg

Kinda says it all doesn't it? I guess they WILL have to follow their own guidelines the 'peons' are required to follow.


----------



## PatekPhilippe

peter said:


> WillowTree said:
> 
> 
> 
> 
> 
> Big Fitz said:
> 
> 
> 
> Blu isn't getting the standard business procedure called "pass the costs on to the consumer".  we all are going to pay with higher oil prices and probably taxes to boot.
> 
> 
> 
> 
> we are going to foot the bill for the clean up too. BP is obligated for 75 million dollars by US law. I think. Now I wonder who's bright idea that was?
> 
> Click to expand...
> 
> 
> If it's true, then I don't understand why we haven't kicked BP out of cleaning. Besides, they're so horrible. The response from BP (and from president too) is so slow and inadequate ...
Click to expand...


BP is providing jobs to the people doing the clean-up...there's no fricken way Obama could send down people to set up something like that...there would be too much fighting over the goddam money by bureaucrats....right now BP is a useful idiot and they have lots of cash.


----------



## PatekPhilippe

Gatekeeper said:


> Could this be an authentic BP picture?
> 
> COMPANY RULES?
> 
> http://i50.tinypic.com/oqw4ep.jpg
> 
> Kinda says it all doesn't it? I guess they WILL have to follow their own guidelines the 'peons' are required to follow.



Some gas stations do that to limit their liability with respect to dumb fuckers who leave the nozzles in their fill points and drive off.


----------



## PatekPhilippe

Colin said:


> ConHog said:
> 
> 
> 
> 
> 
> sangha said:
> 
> 
> 
> A stock price of $0 doesn't necesarily mean the company is bankrupt. It depends on how much of their own stock they hold, and if there are loans against it.
> 
> Secondly, even if BP goes out of business, we still need oil. The unemployed BP workers can get jobs with the other oil companies who will swoop in a buy BP's assets. Oil doesn't drill itself out of the ground
> 
> It's the shareholders who will take haircut.
> 
> 
> 
> 
> 
> well, fuck those shareholders right. I mean let's go get BP.
> 
> Click to expand...
> 
> 
> Typical ignoramus rhetoric! 39% of BP stock is held by US share holders and *pension funds *and 40% by UK shareholders and pension funds.  You obviously couldn't care less about the negative impact breaking BP will have on your own pensioners.
> 
> Keeping the BP share price strong is in the interest of all, particularly the USA who needs BP to sort the clean up and compensation. If you can't see that then you are blind to reality and ignorant of facts.
Click to expand...


LMAO...Sanjaya isn't the sharpest tool in the shed apparently.


----------



## Gatekeeper

PatekPhilippe said:


> Gatekeeper said:
> 
> 
> 
> Could this be an authentic BP picture?
> 
> COMPANY RULES?
> 
> http://i50.tinypic.com/oqw4ep.jpg
> 
> Kinda says it all doesn't it? I guess they WILL have to follow their own guidelines the 'peons' are required to follow.
> 
> 
> 
> 
> Some gas stations do that to limit their liability with respect to dumb fuckers who leave the nozzles in their fill points and drive off.
Click to expand...


I know, I have seen people over the years do just that and pump 10 gallons on the concrete.
Total idiots.


----------



## PatekPhilippe

Gatekeeper said:


> PatekPhilippe said:
> 
> 
> 
> 
> 
> Gatekeeper said:
> 
> 
> 
> Could this be an authentic BP picture?
> 
> COMPANY RULES?
> 
> http://i50.tinypic.com/oqw4ep.jpg
> 
> Kinda says it all doesn't it? I guess they WILL have to follow their own guidelines the 'peons' are required to follow.
> 
> 
> 
> 
> Some gas stations do that to limit their liability with respect to dumb fuckers who leave the nozzles in their fill points and drive off.
> 
> Click to expand...
> 
> 
> I know, I have seen people over the years do just that and pump 10 gallons on the concrete.
> Total idiots.
Click to expand...


I've never seen it in person but I do know this.  Benzene is considered HAZMAT and requires a special type of clean up...that costs money and the stations pass that on to the insurance companies of said dumb asses.


----------



## NYcarbineer

WillowTree said:


> blu said:
> 
> 
> 
> 
> 
> WillowTree said:
> 
> 
> 
> nope,, demonize leads to falling stock prices, you are cutting off your nose to spite your face.. get out your checkbook
> 
> 
> 
> 
> nope they have billions and that will be enough to cover damages for a long time
> 
> Click to expand...
> 
> 
> nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..
Click to expand...


*If a company was lax in its prevention practices, it must be held accountable. It is inexcusable for any oil company to not invest in preventative measures. They must be held accountable or the public will forever distrust the industry. *

...which leftwing radical said that??


----------



## Immanuel

NYcarbineer said:


> WillowTree said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> nope they have billions and that will be enough to cover damages for a long time
> 
> 
> 
> 
> nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..
> 
> Click to expand...
> 
> 
> *If a company was lax in its prevention practices, it must be held accountable. It is inexcusable for any oil company to not invest in preventative measures. They must be held accountable or the public will forever distrust the industry. *
> 
> ...which leftwing radical said that??
Click to expand...


Don't know who said that, but I agree with it.

That does not change the fact that hoping that BP fails because of this disaster, is not all that smart.  If we want BP to pay for the clean up of this mess, we have to hope and pray that BP is around long enough to do so.

Responsibility for this?  I would say that it lies on the shoulders of the people who chose not to install the valve that could have prevented this on going problem AND on the shoulders of those who allowed them to get away with it.  I say find out who is responsible for that and if they broke the law than hound them for the rest of their days.

I have to say, not knowing full well how the decision came about, and having heard rumors that Dick Cheney is responsible for allowing BP to get away with not having the valve, I would be all for throwing this in that SOB's lap.

Regardless, we need to have BP around long enough to clean this frigging mess up.  Blu is wrong if he thinks them filing bankruptcy and selling off their assets that those who purchase the assets are going to also be purchasing the liability or if he thinks selling off BP assets for pennies on the dollar, which is what would happen, will cover the costs of cleaning up this mess.  If BP goes under then for certain the taxpayers of the U.S. are going to have to pay for the clean up.  No one else is going to do it.

Immie


----------



## Big Fitz

peter said:


> WillowTree said:
> 
> 
> 
> 
> 
> Big Fitz said:
> 
> 
> 
> Blu isn't getting the standard business procedure called "pass the costs on to the consumer".  we all are going to pay with higher oil prices and probably taxes to boot.
> 
> 
> 
> 
> we are going to foot the bill for the clean up too. BP is obligated for 75 million dollars by US law. I think. Now I wonder who's bright idea that was?
> 
> Click to expand...
> 
> 
> If it's true, then I don't understand why we haven't kicked BP out of cleaning. Besides, they're so horrible. The response from BP (and from president too) is so slow and inadequate ...
Click to expand...

Read the rolling stone article about how slow the GOVERNMENT has been to do anything.  Plus nobody in the government is CAPABLE of doing anything except threaten those who can.  And if Sean Hannity's reports are accurate, why have not all the booms and skimmers been deployed yet to this day???  Why did the P-BO admin refuse Dutch Shell's help and STILL isn't accepting much help. 

Makes one wonder if this is being made deliberately worse, but really I just think they're that incompetent.  Possibly the worst inner circle of a president since Carter, if not Hoover.


----------



## NYcarbineer

Immanuel said:


> NYcarbineer said:
> 
> 
> 
> 
> 
> WillowTree said:
> 
> 
> 
> nope, they won't have billions after you decimate their stockholders and those who hold the pension plans.. good work lefties.. your face looks good without it's nose..
> 
> 
> 
> 
> *If a company was lax in its prevention practices, it must be held accountable. It is inexcusable for any oil company to not invest in preventative measures. They must be held accountable or the public will forever distrust the industry. *
> 
> ...which leftwing radical said that??
> 
> Click to expand...
> 
> 
> Don't know who said that, but I agree with it.
> 
> That does not change the fact that hoping that BP fails because of this disaster, is not all that smart.  If we want BP to pay for the clean up of this mess, we have to hope and pray that BP is around long enough to do so.
> 
> Responsibility for this?  I would say that it lies on the shoulders of the people who chose not to install the valve that could have prevented this on going problem AND on the shoulders of those who allowed them to get away with it.  I say find out who is responsible for that and if they broke the law than hound them for the rest of their days.
> 
> I have to say, not knowing full well how the decision came about, and having heard rumors that Dick Cheney is responsible for allowing BP to get away with not having the valve, I would be all for throwing this in that SOB's lap.
> 
> Regardless, we need to have BP around long enough to clean this frigging mess up.  Blu is wrong if he thinks them filing bankruptcy and selling off their assets that those who purchase the assets are going to also be purchasing the liability or if he thinks selling off BP assets for pennies on the dollar, which is what would happen, will cover the costs of cleaning up this mess.  If BP goes under then for certain the taxpayers of the U.S. are going to have to pay for the clean up.  No one else is going to do it.
> 
> Immie
Click to expand...


Shareholders are normally last in line for assets if a company goes under.

P.S.  Sarah Palin said that.


----------



## Immanuel

NYcarbineer said:


> Immanuel said:
> 
> 
> 
> 
> 
> NYcarbineer said:
> 
> 
> 
> *If a company was lax in its prevention practices, it must be held accountable. It is inexcusable for any oil company to not invest in preventative measures. They must be held accountable or the public will forever distrust the industry. *
> 
> ...which leftwing radical said that??
> 
> 
> 
> 
> Don't know who said that, but I agree with it.
> 
> That does not change the fact that hoping that BP fails because of this disaster, is not all that smart.  If we want BP to pay for the clean up of this mess, we have to hope and pray that BP is around long enough to do so.
> 
> Responsibility for this?  I would say that it lies on the shoulders of the people who chose not to install the valve that could have prevented this on going problem AND on the shoulders of those who allowed them to get away with it.  I say find out who is responsible for that and if they broke the law than hound them for the rest of their days.
> 
> I have to say, not knowing full well how the decision came about, and having heard rumors that Dick Cheney is responsible for allowing BP to get away with not having the valve, I would be all for throwing this in that SOB's lap.
> 
> Regardless, we need to have BP around long enough to clean this frigging mess up.  Blu is wrong if he thinks them filing bankruptcy and selling off their assets that those who purchase the assets are going to also be purchasing the liability or if he thinks selling off BP assets for pennies on the dollar, which is what would happen, will cover the costs of cleaning up this mess.  If BP goes under then for certain the taxpayers of the U.S. are going to have to pay for the clean up.  No one else is going to do it.
> 
> Immie
> 
> Click to expand...
> 
> 
> Shareholders are normally last in line for assets if a company goes under.
> 
> P.S.  Sarah Palin said that.
Click to expand...


No kidding about the shareholders.

Problem is that if BP assets are sold for pennies on the dollar which is what will happen there would not be enough to pay for the clean-up and I don't give a damn about shareholders receiving anything if the company should go belly up.  The clean-up of this disaster is first and foremost in importance.

As to Sarah Palin being your "left-winger" that said that, it doesn't matter either.  In this case, she's right.  BP should be held accountable, problem is we can't wait for the courts to hold them accountable.  This crap needs to be cleaned up sooner rather than later.

Immie


----------



## Mini 14

The reality is that BP would walk away from the US and adopt a new strategy without American revenues before they would declare bankruptcy. The truth is that the Federal government can now only force BP to provide whatever relief BP is willing to provide on their own.

BP isn't going anywhere anytime soon. At some point they will reach their financial tipping point, and they will walk away from this disaster, leaving us to carry the load.

Which is why our government should have long ago gotten more involved in this mess, taken charge, and kicked BP to the curb.

Obama may still be looking for an ass to kick, but those of us watching the oil roll onto our shores already know where it is. 

And its coming back down Monday and Tuesday for another photo-op and rhetoric tour.


----------



## editec

blu said:


> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com


 
777 people are going to be very unhappy about that.

Why 777 people you ask?

Because those 777 people own _94.83 %_ of the share value of that corporation.


source


----------



## CurveLight

boedicca said:


> What a self-destructive display of schadenfreude.
> 
> If BP does declare bankruptcy, it will be in much worse position to provide funds to cover the clean, restoration, and economic damages due to the oil spill.    There are thousands of American citizens who work for BP, and many more whose businesses and livelihoods are dependent upon it.   BP's economic collapse is in nobody's interests, except for other large oil companies who salivate over scooping up their assets for pennies on the dollar in a court run dissolution.



Considering BP's track record on safety and envrionment it would be a great thing if they went under.  You dumbfucks act like BP makes the fucking oil.


----------



## SFC Ollie

Now I understand that the US Coast Guard has given BP one day to get the leak stopped?

Where the fuck did that suddenly come from? And what the hell is the Coast Guard going to do about it?

I smell White House and politics.


----------



## CurveLight

SFC Ollie said:


> Now I understand that the US Coast Guard has given BP one day to get the leak stopped?
> 
> Where the fuck did that suddenly come from? And what the hell is the Coast Guard going to do about it?
> 
> I smell White House and politics.




You're actually bitching Obama is being more aggressive to get the problem fixed?  First he wasn't doing enough and now it's too much?   Holy dingleberry spitballs.  

The coast guard gave bp 48 hours to present better plans to stop the leak.  I guess you think it's more important to let more oil contaminate the gulf.  God forbid you partisan hacks take off your aisle blinders for even a split second.

Coast Guard Gives BP 48 Hours for Better Oil Containment Plan | News | English


----------



## Toro

777 people do not own 95% of BP. BP is widely owned by institutions whose beneficiaries number in the tens of millions.


----------



## SFC Ollie

CurveLight said:


> SFC Ollie said:
> 
> 
> 
> Now I understand that the US Coast Guard has given BP one day to get the leak stopped?
> 
> Where the fuck did that suddenly come from? And what the hell is the Coast Guard going to do about it?
> 
> I smell White House and politics.
> 
> 
> 
> 
> 
> You're actually bitching Obama is being more aggressive to get the problem fixed?  First he wasn't doing enough and now it's too much?   Holy dingleberry spitballs.
> 
> The coast guard gave bp 48 hours to present better plans to stop the leak.  I guess you think it's more important to let more oil contaminate the gulf.  God forbid you partisan hacks take off your aisle blinders for even a split second.
> 
> Coast Guard Gives BP 48 Hours for Better Oil Containment Plan | News | English
Click to expand...


Ah bentlight, haven't seen you for a while. You always miss the whole point. We (the Government) sit on our asses and do almost nothing for nearly 2 months, We issue statements like BP is best equipped to deal with this problem, We deny access to other countries who offer help. And then out of the blue comes this demand that BP suddenly has 2 days to fix it or else..... Or else what? What is the coast guard going to do? Obama says he has been in charge since day one.

"The American people should know that from the moment this disaster began, the federal government has been in charge of the response effort. "

Now what is any different other than some grandstanding politics?


----------



## Colin

editec said:


> blu said:
> 
> 
> 
> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com
> 
> 
> 
> 
> 
> 
> 777 people are going to be very unhappy about that.
> 
> Why 777 people you ask?
> 
> Because those 777 people own _94.83 %_ of the share value of that corporation.
> 
> 
> source
Click to expand...


No, not people! Institutions mainly!


----------



## California Girl

Colin said:


> editec said:
> 
> 
> 
> 
> 
> blu said:
> 
> 
> 
> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com
> 
> 
> 
> 
> 
> 
> 777 people are going to be very unhappy about that.
> 
> Why 777 people you ask?
> 
> Because those 777 people own _94.83 %_ of the share value of that corporation.
> 
> 
> source
> 
> Click to expand...
> 
> 
> No, not people! Institutions mainly!
Click to expand...


Got any painkillers, Colin? Because the stupidity on this thread is getting painful. 

For the drooling hordes who seem to think there are 777 PEOPLE owning the majority of shares in BP.... here is their major shareholder list.... AGAIN. Perhaps this time, you could actually pay attention instead of ignoring inconvenient truths. 

https://amadeus.bvdep.com/amadeus/top20/report_2.htm

Note: Legitimate source - not a fucking media site.


----------



## California Girl

editec said:


> blu said:
> 
> 
> 
> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com
> 
> 
> 
> 
> 
> 
> 777 people are going to be very unhappy about that.
> 
> Why 777 people you ask?
> 
> Because those 777 people own _94.83 %_ of the share value of that corporation.
> 
> 
> source
Click to expand...


I bet you feel seriously stupid now. If not, you really should.


----------



## Big Fitz

editec said:


> blu said:
> 
> 
> 
> Stocks fall on fears the Gulf oil spill will put BP into bankruptcy | NOLA.com
> 
> 
> 
> 
> 
> 
> 777 people are going to be very unhappy about that.
> 
> Why 777 people you ask?
> 
> Because those 777 people own _94.83 %_ of the share value of that corporation.
> 
> 
> source
Click to expand...

Jeeebus!  You know how many people are shareholders in each of the COMPANIES invested in BP????  Hope you don't have a market or hedge fund, because you're one of them and you're cheering your own throat being slit.  

How fucking stupid.

Oh look, Vanguard Investments, Ameriprise, Mutual Life Insurance.... Who do they represent?  Why do you leftists always see a conceited Mr. Potter at the top of every major corporation while all the George Baileys in your little fantasy world are living in Communes and buying flax seed flour down at the "Hashish and Bong Coffee House" and Co-Op before Open Mic Free Verse night?


----------



## 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 to two ways - Prison or fines and usually ordered to make restitution, it's time to punish those individuals culpable and not their investors.
First, a criminal investigation needs to be undertaken by each state effected by their AG's, and  individuals named as both principles and conspirators.  A trial be held in each state where a full accounting of what happened, why and what coverups/lies were issued and under whose direction.  If found guilty the offenders should be sentenced to long prison sentences and restitution be determined and property and assets surrendered.
Or will those responsible escape the consequences of their actions and once again prove that some people are really above and out of the reach of the law?


----------



## Immanuel

Wry Catcher said:


> 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 to two ways - Prison or fines and usually ordered to make restitution, it's time to punish those individuals culpable and not their investors.
> First, a criminal investigation needs to be undertaken by each state effected by their AG's, and  individuals named as both principles and conspirators.  A trial be held in each state where a full accounting of what happened, why and what coverups/lies were issued and under whose direction.  If found guilty the offenders should be sentenced to long prison sentences and restitution be determined and property and assets surrendered.
> Or will those responsible escape the consequences of their actions and once again prove that some people are really above and out of the reach of the law?



I don't disagree and there have been some accusations that certain politicians are at least partially responsible.

However, it is the individuals within the organization and/or politicians from without that are responsible for the failure.  It is not the organization itself.

I believe that the responsibility for the cleanup is the organization itself because the organization benefited and would have continued to benefit from the well.  The assets of the organization need to cover the costs of the cleanup, but the individuals within the organization are the culprits of this disaster and they are the ones that should suffer the penalties of their actions.  I don't believe the shareholders who had zero to do with the decisions made that led to this disaster should be held anymore responsible than the value of their stocks.  

Cheering the downfall of BP is akin to, IMHO, cutting of your nose to spite your face.  Some people in this thread are calling its shareholder "evil".  That is ridiculous and quite frankly idiotic!  Personally, I don't know whether or not one of my mutual funds/retirement plans own shares in BP, but I would guess I probably do somewhere.  I believe we need BP to stick around and fix this mess.  That does not by any means say that I think we should subsidize them.

Immie


----------



## Big Fitz

> BP is too big to fail?



No.  But there is a big difference between failing on it's own and throwing out a friggen window.


----------

