Posted on 06/15/2010 6:11:06 AM PDT by markomalley
Precisely, BP is under attack and instead of solving the problem Obama is going to use this as his example to take over energy. The debate in the meanwhile will DESTROY the Gulf.
I think the solution is for Haliburton or another co with expertise to joint venture the Wildcat. Sure there is a liability, which will get worse but all are farther ahead fixing it.
To get the Government in total control? Screw that, Obama has already destroyed the Gulf , but, there is still the Atlantic.
What does seizing the claims process have to do with dealing with the oil spill? It is simply another power grab, a seizure of private assets. This has become a socialist country on a dictatorial model.
Did you hear about the guy who filed a claim with BP for $100 because the price of shrimp went up and as a regular shrimp buyer he claimed he wanted to be compensated for the difference in market price?
The bigger the mess the greater their power.
The Obama has no incentive to clean this up.
The Obama has an incentive to let it grow.
BP Death Panel...
And your point is …………???
Hey I was going to post that! The whole claims process will be full of fraud when Obozo and his gang get a hold of BP’s money.
*
You hit the nail squarely on the head. Everything about this whole mess stinks.
They are good at sucking..that’s for sure.
Leftists forget companies are not monolithic units awaiting interminable bilking, they are aggregations of people who, every day, go home and have the option of not coming back. BP can just sever all legal ties with the USA, abandon all assets (of value only insofar as they are maintained daily), and leave the Obama to plug the damn hole. Anyone can quit any time; no individual need remain for the fight the Obama promises.
Why wouldn't they? This reduces the number of creditors in the looming BP Bankruptcy to 1.
The airline industry is next.
I’m sure the Feds will enjoy collecting all the data from the locals that operated on a cash basis to avoid taxes.
This will end well..
Here is your compensation check for damages.
Here is your tax bill for all the back taxes you owe.
Balance = 0..
There was a news article (CNN I believe) on this a few weeks ago.
Just wanted to correct someone upthread about bankruptcies.
Chapter 7 is COMPLETE bankruptcy with court approval.
Chapter 11 is Restructuring with the purpose of coming back stronger.
This is for businesses not personal.
So? and Yawn.
Of course they are. This is their chance to walk away from the payouts.
The Goevernment is going to now be responsible for paying the claims -- so all BP has to do is hand the Govt a check for $75 Million (which is the max the law requires) and wipe their hands of the hardest part.
BP was paying out claims and was going far beyond the $75 Mil cap because they said they wanted to make it right, but they were also adamant they would only pay VALID claims. It was the validation process that was taking so long to pay the legitimate claims.
Now that OBOZO has stuck his nose into it BP has no garauntee that the claims being paid are actually legitimate -- VALIDITY means nothing to the Government when they are buying votes with O.P.P.
But more to the point: it is a power grab. They've said it themselves - every crisis is an opportunity and it is clear that in this case, that opportunity is a coming full-court press for Obama's "Green energy policy" (cap-and-trade, and all).
And also, a chance to divest a hated oil company of its wealth. Quoth the President's sock puppet Gibbs: "Whatever money they owe to anybody in the Gulf, they're going to have to pay regardless of the amount". In that case, especially given the tenor of our legal system, bankruptcy is only a matter of time.
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