SUBSCRIBE:
Error: Unable to create directory uploads/2018/09. Is its parent directory writable by the server?

Robert Reich: Obama Should Takeover BP

by
Posted on May 31 2010 12:42 pm
Liz Blaine is a financial analyst, author and freelance writer on finance, economics and politics. Follow her on Twitter and her blog Liz Blaine.
Be Sociable, Share!
Print This Post Print This Post

By: Robert Reich

It’s time for the federal government to put BP under temporary receivership, which gives the government authority to take over BP’s operations in the Gulf of Mexico until the gusher is stopped. This is the only way the public know what’s going on, be confident enough resources are being put to stopping the gusher, ensure BP’s strategy is correct, know the government has enough clout to force BP to use a different one if necessary, and be sure the President is ultimately in charge.

If the government can take over giant global insurer AIG and the auto giant General Motors and replace their CEOs, in order to keep them financially solvent, it should be able to put BP’s north American operations into temporary receivership in order to stop one of the worst environmental disasters in U.S. history.

Continue reading at the Wall Street Pit

Be Sociable, Share!
3 Responses leave one →

Leave a Reply

Note: You can use basic XHTML in your comments. Your email address will never be published.

Subscribe to this comment feed via RSS

Copyright 2018 NewsReal Blog

The Theme Foundry