BP for Big Profits, small fines, short memories

[james armstrong]

Profits for the third quarter of 2009 for BP announced to-day at $4.98billion.

This makes a news item for the BBC to-day.

Who remembers that BP were fined in 2007 , a measely , $373million in US  for,among  others, negligence over a Texas Refinery fire when 15 peole were kiled and a further 170 injured.

What kind of press do we have?

What kind of punishment is a fine  for such a crime?

Had BP been "Baden Powell", the scout would have been sent to the electric chair.

The artificial legal personalities which are 'corporations' have been hugely advantaged over mere people with real but mortal bodies .

To control them I suggest the effective and appropriate measure is to fix a termination date for each corporation , and on trangressions such as this , bring it forward by a significant number of years.

Tis will hit corporations where it hurts in their balance sheets as the market discounts their reduced prospects.

On termination, the state can bag the company.

Till then users who dont want to trade with criminals who outdo both the Krays and the Godfather can vote with their pockets.

If you didn't know till now about this fine, you might want to re-assess the value of our "free press".

James 

   
 		 	   		  
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