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

[kpete]

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

[blueclown]

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

[valerief]

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

[wordpix]

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

http://www.huffingtonpost.com/cherri-foytlin/thoughts-on-bp-settlement_b_2121787.html

[thucythucy]

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.

[tride12]

5. when is the crimnial fine for wall street?

and executives arrested.

[HooptieWagon]

12. +1000

[CountAllVotes]

14. Wall Street needs to be shut down first

Then the real criminals can be dealt with!

and Welcome to the Democratic Underground!!

[Overseas]

6. K&R. Glad to hear it.

[EnviroBat]

7. Given the circumstances and the damage done,

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

[ancianita]

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

[EnviroBat]

11. Yes, I was referring to the fine.

[Sgent]

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.

[thatgemguy]

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!

[dixiegrrrrl]

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.

[KansDem]

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?

[One_Life_To_Give]

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.

[Ash_F]

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

Hope it is the execs responsible.

[Downtown Hound]

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.

[muriel_volestrangler]

19. Kick (nt)