Socialism & Responsibility

Democratic Socialism & Corporate Responsibility:

British Petroleum is not just a corporation. It has deep ties with the government in the UK. For example, we've all read about how the investment of pension funds in BP stocks is creating significant nervousness in the UK as they look on the Obama administration's rhetoric about squeezing every dime out of the corporation that it can.

We've talked about how BP will likely seek the protection of British courts. How much will the courts be sympathetic to them? It changes the picture quite a bit to hear that the British government's attempt to help was refused by the administration.

A court might well look at this and say, "It's fine to ask for damages; but since you refused to accept the help offered that would have limited those damages, we'll also limit the liability." That's even fair, is it not? After all, to the degree that the Obama administration is making things worse, there's no reason that BP should be the ones footing the bill. Insofar as they have decided it is more important to have the paperwork in order in Washington than the beaches in order in Louisiana, they're the ones -- not the British -- who should pay the cost of that decision.

Of course, that means that the US taxpayers foot the bill. Alas, they were the fools who voted for this crew.

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