what happens if they go bankrupt?
Reader comment on: BP, Obama, and the Rule of Law
in response to reader comment: They should pay for the cleanup
Submitted by ben (United States), May 4, 2010 22:26
in the unlikely event (in this case) that they can't afford the cleanup, what do we do? Tough luck to the innocent people of the Gulf Coast caught in the crossfire?
It sounds like your gripe with Obama on this one is the terminology, but not the substance. The "boot on the throat" is surely crass (reminiscent of "fat cat bankers"), but I think his point here is that BP has said they will pay the whole coast of clean up, and he intends to make sure they follow through on that commitment. If that was his meaning, he is doing his job representing the interests of taxpayers who shouldn't have to pay for a bailout of an oil company.
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The Future of Capitalism replies:
If BP (or its insurers) can't afford it either the taxpayers as a whole or the affected coastal property owners and fishermen (or their insurers) should fund the cleanup.
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