Page 2 - Liability Cap News Today

They didnt buy -- they have an american branch. they didnt buy insurance. why didnt they buy insurance? the same federal government that made them drill where they never are drilled before said dont worry, theres a liability cap. its i am i am permissible interferes. bp should be made to pay through the judicial system, not political shakedown. thats what it is the victim of. >> brian: the judicial system, as you know far better than i, can be sometimes be slow and people in the gulf cannot affo...

>> brian: they want to blow that up to $10 million. >> as you know, its difficult to change the law retroactively when someone solvers a loss. they went into the it gulf knowing they wouldnt have to pay more than 75 million-dollar. it is a bad law, easy to say now. its a bad law. nobody should have a safety net under them like that. the safety net should be the insurance carrier. >> brian: theyre self insured like most oil companies. >> correct. theyre self-insured because they have a liability ...

This is what happens when you have a big target like bp and the government wants to gang up on it and doesnt respect the rules of law. >> brian: dont they deserve to be ganged up on? look what happened in the gulf. dont they deserve to be ganged up on? >> no. they deserve the protections the law gives them. im not an apologist for them. im harshly critical of the government that gave them a liability cap which they agreed to get rid of. theyre entitled to the protection it of the rule of la. you...

When there is a spill you can easily clean it up. then they are giving a liability cap of too big to fail. >> you are only liable for $75 million. if that is all i have to suffer. so the government chris the scenarios where businesses do something, something bad happens. they are going to be blamed for it.

Not worthy of compensation. >> clean young continues capturing 25,000 barrel as day, and the coast guard says 4 countries have come come forth with offers of equipment or resources and 68 offers came from foreign governments and of the government offers the u.s. deemed 35 acceptable and has formally accepted nine with a state department processing the acceptance of another 24 and accounting that leaves two acceptable offers on the table and the head of the response team dismissed claims that the...

Not worthy of compensation. >> clean young continues capturing 25,000 barrel as day, and the coast guard says 4 countries have come come forth with offers of equipment or resources and 68 offers came from foreign governments and of the government offers the u.s. deemed 35 acceptable and has formally accepted nine with a state department processing the acceptance of another 24 and accounting that leaves two acceptable offers on the table and the head of the response team dismissed claims that the...

Down thinking and you have the same kind of things with too big to fail. you have all these rules and regulations and nothing is going to fail. when the stock market was at 14,000. i remember i had a guy on, like the last day of the high. i remember looking into the camera, good god america, get out of the stock market. this guy was making fun of me. glenn, i dont know. well, you dont understand this system, that system. i dont want to let the government off from the bp thing. how did bp get to ...

That you do kind -- you shut down thinking and you have the same kind of things with too big to fail. you have all these rules and regulations and nothing is going to fail. when the stock market was at 14,000. i remember i had a guy on, like the last day of the high. i remember looking into the camera, good god america, get out of the stock market. this guy was making fun of me. glenn, i dont know. well, you dont understand this system, that system. i dont want to let the government off from the...

This oil spill investigation? because while all this back and forth is taking place, the real grim reality is the oil continues to gush. >> reporter: thats right. first off, these congressional investigations are going to continue and they have yielded some information, but when it comes to maybe changing regulations, you know, thats not going to happen immediately. were still awaiting the results of various investigations, including the congressional ones. the well hasnt been killed yet. so wer...

Relief wells so if it happens it can be capped rapidly. >> a purely campaign question. considering the republicans again today blocked an attempt to raise the liability cap on bp, do you think mr. barton handed every last democrat in this country a campaign ad with that sound bite? can you run with the idea of the gobp? >> well, i can just tell you that i dont think anybody thought those words were going to come out of anybodys mouth today on the republican side, least of all the republican lead...