Obama:Its OK for banks to use tax money for bonuses & dividends, but BP can't use its own money to pay Granny?


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Banks almost destroyed the world economy with their greed, and got trillions of dollars of taxpayers money in aid. The Banks then promptly paid out billions in Bonus Payments and Dividends for failure. BP are using their own money to clear up the oil mess, have enough funds to cover their liability, and yet...


Banks in Anadarko, OK



Answer (3):

shafter

Somebody has to be blamed other than America - the british are the patsy

BP has 65 per cent of the licence partnership, Anadarko of the US 25 per cent and Mitsui of Japan 10 per cent.

America is the seat of capitalism so they know how the system works but by god when something happens to them they whine like babies and start looking for handouts as well as any socialist/communist regime. What has happened to all the oil profits over the years?

I think the Americans want to drive the price of the shares right down and make a takeover bid or somebody else does.

giginotgigi

In British Company Law, bonus would not be issued only when a company is in winding-up situation. It is legal for those Banks to pay bonus because they are not winding-up.

The oil spill was due to the negligence of BP. According to the Company law in Britain, BP should face persecution. If the director was proved to be negligent, the court can remove him from the post of director in every company for maximum 15 years.

Debra D

Obama can't stop BP from giving it's stockholders anything. If Granny and the stockholders are in trouble now, they only have BP to blame for it and what the stock market is currently doing. Obama isn't racist. Is all of the UK white? You have no black people? BP has the final say on who works for their company. The fact that they were American is irrelevant. BP needs to pay for this whole disaster and if they go out of business it's because they had no backup plan for a disaster of this nature.