Would be interesting to see if an American company takes over BP....

<blockquote id="quote" class="ffs">quote:Originally posted by grayster
BP's assets will not go bust (they have incredible value in their oil reserves). If the company fails (most likely because no US person will go near the name or because they suffer a short term liquidity pinch in the derivatives markets), another one will buy them up plus their Gulf spill liabilities. A falling market capitalisation does not make a company go bust - if it's balance sheet is still intact, it makes it a bid target. Even with the Gulf liabilities, BP is a very attractive company to takeover. End result = same assets, different name. However, securing compensation for claimees would probably take much, much longer - this is why Obama is trying to get the $20bn escrow account set up. It is a US insurance policy in case BP fails.

However, Obama's hammering of BP serves no purpose except to divert attention from his administration. It's not working - polls are showing the population are not happy with how he has dealt with this.
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