Wednesday, June 16, 2010

When Was The BP Trial?

So BP has set up a $20 billion escrow account to pay out damages to those affected by the oil spill and I am wondering, when was BP's trial?

Normally when an accident occurs (civil liability) or negligence leads to disaster (criminal liability) there is some kind of a trial, where the defendant (BP) faces its accusers/those it harmed (the "people affected by the oil spill"). But it seems in this situation that the guilt has been presumed and the trial has simply been skipped and everyone is already participating in the "divvying up the payout"-phase.

Another question I have-- where'd they come up with $20 billion? Sure, it could be more, but I suppose it could also be less. Either way, I am curious how the government has calculated possible damages when it isn't exactly clear who has been affected and how much, at this point.

1 comment:

  1. Exactly.
    People in my office were distracted by the amounts. I say who cares about the amounts, lets care about extortion. Basically the government said do this or else...

    This is the new way. Fire GM CEO, AIG, ect. Break all the laws and screw the bondholders. Pass healthcare that foreces people to buy something. Laws don't matter.

    I just don't get why Congress can't figure out that all this power shifting to the Executive Branch is not good for them. Don't they realize that every bit of power that Obama gets, they lose??