Slayer of the DP Newsbot
- Aug 27, 2005
- Reaction score
- Houston, TX
- Political Leaning
PORT FOURCHON, La. — Attorney General Eric Holder said Tuesday that federal authorities have opened criminal and civil investigations into the nation's worst oil spill, and BP lost billions in market value when shares dropped in the first trading day since the company failed yet again to plug the gusher.
Investors presumably realized the best chance to stop the leak was months away and there was no end in sight to the cleanup. As BP settled in for the long-term, Holder announced the criminal probe, though he would not specify the companies or individuals that might be targeted.
"We will closely examine the actions of those involved in the spill. If we find evidence of illegal behavior, we will be extremely forceful in our response," Holder said in New Orleans.
I believe that I am about to take a very unpopular position here, but I take this position because of logic, not emotion.
OK, civil investigations? I can go with that. BP cut a lot of corners, misled the public, and in general, acted like complete douche bags. Sue them.
But for the criminal investigations, I have some questions. Which laws of the land did BP violate? Did they commit perjury by lying under oath? Did they offer any kind of hush money to keep the extent of the spill secret? Doesn't look like it to me.
I have a strong feeling that this is not so much about finding out if BP broke the law, but to mitigate the political damage to Obama over this incident, and also to have a scapegoat to point at. Yes, BP needs to be held accountable for the damage they caused, and made to pay a price, but a witch hunt of any kind is going to be detrimental to finding a solution that will keep this from ever happening again.
I will follow the discussion here, as I put on my flame proof suit. :mrgreen:
Article is here.