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User ID: 970343 United States 06/09/2010 08:53 PM Report Abusive Post Report Copyright Violation | ...The idea that BP might one day file for bankruptcy, particularly as part of a merger that would enable it to cordon off its liabilities from the spill, is starting to percolate on Wall Street. Bankers and lawyers are already sizing up potential deals (and counting their potential fees). Given the plunge in BP’s share price — the company has lost more than a third of its value since Deepwater Horizon blew — some bankers and analysts say BP is starting to look like takeover bait. The question is, who would buy BP, given its enormous potential liabilities? Shell and Exxon Mobil are both said to be licking their chops. And already, flinty legal minds are dreaming up scenarios in which BP would file a prepackaged bankruptcy and separate the costs of the cleanup — and potentially billions of dollars in legal claims — into a separate corporate entity... [ link to blogs.alternet.org] ~~~~~~~~~~~
O Ephraim, what shall I do unto thee? O Judah, what shall I do unto thee? for your goodness is as a morning cloud, and as the early dew it goeth away. Therefore have I hewed them by the prophets; I have slain them by the words of My mouth: and thy judgments are as the light that goeth forth. For I desired mercy, and not sacrifice; and the knowledge of God more than burnt offerings. -Hosea 6.4-6 |
Anonymous Coward User ID: 863042 United Kingdom 06/09/2010 09:04 PM Report Abusive Post Report Copyright Violation | Just make sure those responsible spend a couple of decades in jail. Don't let them wriggle out of it.
Keep one eye on the financial side, and one eye on the greedy gaia-suckers... don't let them point to the plunging value saying "oh look, the sky is falling!" while they slip away. |
Anonymous Coward (OP) User ID: 970343 United States 06/09/2010 09:12 PM Report Abusive Post Report Copyright Violation | Taking a risk here...
The scuttlebutt at the Country Club is that they did it today. |