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Thu Nov 15, 2012, 08:24 AM

BP to get record US criminal fine over Deepwater disaster (four BP staff will be arrested)

Source: BBC

BP to get record US criminal fine over Deepwater disaster


BP is set to receive a record fine of between $3bn and $5bn (1.9bn-3.2bn) to settle criminal charges related to the 2010 Deepwater Horizon disaster, the BBC has learnt.

It will be the biggest criminal penalty in US history, BBC business editor Robert Peston says.

The settlement with the Department of Justice involves BP pleading guilty to criminal charges.

It is thought that up to four BP staff will be arrested, Robert Peston says.





Read more: http://www.bbc.co.uk/news/business-20336898

19 replies, 2909 views

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Reply BP to get record US criminal fine over Deepwater disaster (four BP staff will be arrested) (Original post)
kpete Nov 2012 OP
blueclown Nov 2012 #1
valerief Nov 2012 #2
wordpix Nov 2012 #3
thucythucy Nov 2012 #4
tride12 Nov 2012 #5
HooptieWagon Nov 2012 #12
CountAllVotes Nov 2012 #14
Overseas Nov 2012 #6
EnviroBat Nov 2012 #7
ancianita Nov 2012 #10
EnviroBat Nov 2012 #11
Sgent Nov 2012 #18
thatgemguy Nov 2012 #8
dixiegrrrrl Nov 2012 #9
KansDem Nov 2012 #13
One_Life_To_Give Nov 2012 #15
Ash_F Nov 2012 #16
Downtown Hound Nov 2012 #17
muriel_volestrangler Nov 2012 #19

Response to kpete (Original post)

Thu Nov 15, 2012, 08:27 AM

1. If its not the top four executives in the company, it's a sham.

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Response to kpete (Original post)

Thu Nov 15, 2012, 08:28 AM

2. I'll bet they get 50 years to pay it. And then they won't. nt

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Response to kpete (Original post)

Thu Nov 15, 2012, 08:33 AM

3. see this from BP Fairness Settlement Hearing - federal judge didn't hide his bias

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Response to kpete (Original post)

Thu Nov 15, 2012, 08:45 AM

4. This is still better than the Big Tobacco settlement.

As I recall, Big Tobacco was on course to pay a huge fine for misleading the public for decades about how addictive and dangerous tobacco was. This was under the Clinton DoJ. One of the first things the newly elected Bush II administration did was to cut the fine down practically to nothing.

Had Romney won, I expect the same would have happened here.

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Response to kpete (Original post)

Thu Nov 15, 2012, 08:46 AM

5. when is the crimnial fine for wall street?

and executives arrested.

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Response to tride12 (Reply #5)

Thu Nov 15, 2012, 11:35 AM

12. +1000

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Response to tride12 (Reply #5)

Thu Nov 15, 2012, 11:57 AM

14. Wall Street needs to be shut down first

Then the real criminals can be dealt with!

and Welcome to the Democratic Underground!!



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Response to kpete (Original post)

Thu Nov 15, 2012, 09:03 AM

6. K&R. Glad to hear it.

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Response to kpete (Original post)

Thu Nov 15, 2012, 09:29 AM

7. Given the circumstances and the damage done,

this STILL seems like a "slap on the wrist"...

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Response to EnviroBat (Reply #7)

Thu Nov 15, 2012, 09:56 AM

10. Are you referring to the fine? Because manslaughter charges are hardly a slap on the wrist.

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Response to ancianita (Reply #10)

Thu Nov 15, 2012, 10:04 AM

11. Yes, I was referring to the fine.

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Response to EnviroBat (Reply #11)

Thu Nov 15, 2012, 03:40 PM

18. Keep in mind this is just the criminal fine

There are still civil fines, the cost of cleanup, and reimbursement to businesses and individuals who suffered harm left to come.

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Response to kpete (Original post)

Thu Nov 15, 2012, 09:44 AM

8. Corporate Justice

Corporations get to negotiate their punishments. This is such a weak sentence for the environmental damages done. Prosecute BP to the max... death sentence, if possible!

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Response to kpete (Original post)

Thu Nov 15, 2012, 09:55 AM

9. It has also reached a $7.8bn settlement with the Plaintiffs' Steering Committee,

a group of lawyers representing victims of the spill.

I am curious as to who gets what monies from all these settlements.
Obviously the lawyers will get a huge chunk.

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Response to kpete (Original post)

Thu Nov 15, 2012, 11:38 AM

13. Aren't corporations now "persons?"

And don't "persons" who commit criminal acts go to prison?

So why isn't BP going to prison?

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Response to kpete (Original post)

Thu Nov 15, 2012, 12:05 PM

15. And the people who put policies and procedures in place causing this disaster?

Bet they got all of their bonus payments and moved on up the corporate ladder. Probably didn't miss a single trip to the country club or not purchase the latest sports car etc.

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Response to kpete (Original post)

Thu Nov 15, 2012, 12:11 PM

16. Wow, I never thought anyone would end up in jail.

Hope it is the execs responsible.

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Response to kpete (Original post)

Thu Nov 15, 2012, 03:29 PM

17. $5 billion is chump change compared to what BP is worth

and for a disaster of this magnitude. Anything less than $100 billion is a sham. BP should be out panhandling for change after what they did to the gulf.

And let's not forget that during those insane few months of that disaster, none of us were fully certain that there was anything that could be done to stop it. There was no guarantee that any of the proposed solutions, including a relief well, would work. And if nothing had, the environmental consequences to our planet would have been beyond devastating.

BP put the whole future of the planet at stake for their short-term gain. $5 billion? Not even a slap on the wrist to them.

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Response to kpete (Original post)

Thu Nov 15, 2012, 03:56 PM

19. Kick (nt)

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