Temporary Receivership of BP

Obama should take over and guide this process in the best interests of the public (we the people).

BP? Well we know where their motivations and loyalties lie...profits and shareholders.

Putting BP Under Temporary Receivership: Some Qs and As

WEDNESDAY, JUNE 2, 2010
Q: Is this realistic?

A: Not only realistic but it may become necessary — both operationally and politically. If the disaster continues to worsen, it’s untenable for a for-profit corporation to be in charge.

Q: But why should we expect government to do any better job than BP?

A: BP would still be at the job — and its expertise, equipment, and other assets would continue to be utilized. But the federal government would be in overall control of the operation — weighing public risks and benefits, deciding what resources are necessary, getting accurate information and disseminating it to the public.

Q: Why should we trust the government?

A: This isn’t an ideological contest about how little you trust a giant oil company versus the federal government. It’s a matter of accountability. BP’s primary responsibility is to its shareholders. And it will cut corners — as it has before — if that’s the best way to maximize the value of their shares. But only the government, through the President, is directly accountable to the American public, and responsible for protecting it.

MORE:
http://robertreich.org/post/655678383/putting-bp-under-temporary-receivership-some-qs-and-as

---