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Why is BP toast? They followed the regulations--or so they will argue in the next decade's worth of lawsuits--and suffered an unfortunate accident. If the U.S. goes after BP, all it will do is raise the cost of self-insurance, driving some of the smaller players out.

It looks to me like BP is playing it cool, certainly with an excellent understanding at corporate headquarters of the possible scope of the disaster. If they're pressed too hard, they'll tell the hypocritical Senators and Representatives to flake off...

by asdf on Fri Jun 18th, 2010 at 12:51:49 AM EST
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Because BP kept overrulling the recommendations of contractor's engineers is prima-facie reckless negligence?

Of course, all this needs to be proved in court, as you say...

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Migeru (migeru at eurotrib dot com) on Fri Jun 18th, 2010 at 01:19:51 AM EST
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