BP and the Gulf

BP will now become the de-facto historical reference to corporate irresponsibility as they should.

This whole Joe Barton and Republican notion that The Obama administration can’t “shake them down” for money to pay for the damages they have caused is absolutely laughable.

The very definition of liable is:

• 1. Bound or obliged in law or equity; responsible; answerable; as, the surety is liable for the debt of his principal. [1913 Webster]

I deal every day with individuals that have “policy limits” on their auto insurance policies and you know what?  The harmed party doesn’t  have to accept the policy limits if those limits do not make them whole. In some cases the claimant rejects the limit I offer and files suit.  Even though my clients’ don’t have a $75,000,000 policy limit, if they cause more damages than their limits they still are liable for the loss if they are underinsured.

This is very simple: BP is liable for all the damages they have caused. They knew the risks of deep water drilling, just like the driver of a car that goes to the bar and has too many drinks  and tries to drive home knows the risks. If paying for these damages bankrupts the company than so be it.