So when do they freeze the American assets of BP?

[Phoebe Loosinhouse]

You know, like they do for 2 pot plants in someone's garage? Or like they did with Saddam Hussein and Qaddafi?

I think anything BP does with these assets such as: dividend payouts, bonuses, extra executive compensation, executive stock sales, etc. in light of current events would smack of a "fraudulent conveyance" based on the civil and criminal suits that are probably pending.

Same with Halliburton

http://www.theatlantic.com/science/archive/2010/05/halliburton-could-be-at-fault-for-oil-spill/56131/
Halliburton Could Be at Fault for Oil Spill
May 4 2010, 11:53 AM ET |


How did the Gulf oil rig explode? A prominent theory adds Halliburton to the mix. Workers had just finished cementing the well when the rig blew, leading experts to speculate that a flaw in this process could have caused the explosion. Halliburton, the largest company in the global cementing business, was in charge of cementing the well.

In order to prevent oil and natural leakage, rig workers pump cement down wells after they've finished drilling. This process requires a very particular type of cement, one that must be mixed and stirred in a precise fashion. If the cement is flawed, it can crack or fail to set properly, allowing oil and gas to leak through. If gas escaped through the Gulf rig's cement, it could have shot back up the well -- what's known as a "blowout" -- and ignited the fatal blast.

Halliburton was also responsible for cementing a well off the coast of Australia that blew last August, leaking oil for ten weeks before it was plugged. Though the investigation continues, an official from the U.S. Minerals Management Service testified that a poor cement job probably caused the explosion.

complete story at link

maybe some asleep-at-the-wheel-journalists could ask Liz Cheney some questions about this, if she isn't molting and secluded.

[truedelphi]

1. I'm assuming that BP has not yet made out the campaign checks for

Senators and Occupant at 1600 Pennsylvania Avenue and who are facing the 2012 election cycle.

So it will have to wait.

[Rosa Luxemburg]

2. start by compensating the fisherman, tourism workers etc

[Phoebe Loosinhouse]

3. They also nuked the value of coastal real estate and businesses.

Poof!

[Rosa Luxemburg]

4. yes BP will be cleaned out by the time they have paid up for their destruction

meanwhile the GOP wants us to be kind to BP!

[Phoebe Loosinhouse]

5. Who would like to take a stab at valuing:

fishing populations and dependent industries

tourism and dependent industries

agriculture and dependent industries

pollution of groundwater and aquifers and effect on all municipalities

all effected real estate

[neverforget]

6. more money than what BP is worth......

[Cant trust em]

7. The polution is probably the only thing that really has unestimable value.

BP is worth more than the rest, in an economic sense.

[Incitatus]

9. More than their assets are worth.

However, is they were forced to pay all of their profits towards the damages for the next 20 years, that would be a lot more money than just forcing them to go BK and auction off all their assets. Especially if they are simply leasing most of the properties they are using, like the Deep Horizon rig.

[laughingliberal]

8. K & R nt

[era veteran]

10. Put that dividend money in escrow so will have something to attach

Do it now, before they hide anything.

[Catherina]

11. Right after they've given BP enough time to hide said assets n/t

[Scuba]

12. Last month would have been good....

...before their $10B distribution of dividends.

[elocs]

13. The simple reality it that it will not happen. n/t