AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.
True the courts could slap some kind of lien on American assets of BP, but outside of US the US court system has no authority.
Also they have no authority to tell BP to desist from paying dividends unless those dividends are to US domiciled Investors.
If Obama is serious about having BP pay full costs for their error then it is obvious that Obama and his experts must permit BP to continue to function as an ongoing Company.
I have known a lot of wealthy people in my life and one thing I have observed is that the richer you are the greedier you become.
No, no, no.
That tax won't be repealed later, they'll just find a way to shuffle funds elsewhere.
Cut something or a lot of things to pay for this.
Remember the 55mph speed limit?
Temporary measure to get us through the oil crisis?
Temporary took 25-years to get off the books.
Sorry... no new taxes under ANY circumstances.
I don't care if 5 of these rigs had puked oil.
Find the money by cutting something else.
There is enough crap to slash to fund scores of such clean-ups.
BTW, I agree about cutting the MMS, the Dept. of Education, Ag Dept, NEA, HUD... a whole slew of bureaucratic mess that makes things worse.
Last edited by zimmer; 06-11-10 at 05:20 AM.
I AM DEPLORABLE.
NEVER CRIMINAL HILLARY (S-NY)
"He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
What gets me is washingtons backpeddling on the lability cap. The current lability cap is 75 million yet washington wants to raise that cap on BP. I dont understand how they believe they can change a law after the fact and expect people to comply.