Do you think the "BP oil fund" will be as safe and secure as the social security trust fund?

[stupidcaucasian]

It would be safer than Socialist Security, it they keep it away from Congress.

[straighttoothpaste494]

I do not think the "BP oil fund" will be as safe and secure. Social security was robbed by Congress to pay for their pet projects.

President Obama demanded that BP “set aside “whatever resources are required to compensate the workers and business owners who have been harmed” by the spill. With thousands of environmental activists, regulators and trial lawyers on Team Obama, one can imagine what creative damages and costs might be concocted, to convert the initial $20-billion BP fund into a bottomless money pit, and what “standards” might guide bird death valuations, for example.

ExxonMobil paid $600,000 when 85 birds died in uncovered waste facilities. PacifiCorp paid was fined $1.4 million after 230 eagles were killed by its power lines over a two-year period. Will those fines set the standard for Gulf oil spill bird deaths? Or will the standard be the zero, zip, nada fines assessed to date on wind turbine operators for their ongoing slaughter? Will BP be required to compensate oil field workers who lose their jobs because Team Obama imposed an arbitrary drilling moratorium, instead of ensuring improved oversight of drilling and completion activities?

Look, at least BP already agreed to pony up. Why should the government control this? Isn't this another case of the Obama administration bullying, taxing and regulating business as part of a social agenda to redistribute income and power from private enterprise to government? It's a war on profits and capital.

Consider this: American companies are sitting on an astonishing pile of $1.5 trillion in unused cash. Why aren't they investing to create new jobs? Well, it's because massive tax and regulatory threats coming out of Washington have created a tall barrier of disincentives and uncertainty that is blocking the normal efficiency of the free-market capitalist system. o_O

[BlackhawksRule!]

The BP fund is private money and protected. I do hope some one is smart enough to invest it. Even if they just stick it in a saving account. It is safer that Social Security. Social security was robbed by Congress to pay for their pet projects. Congress claims it will repay that money. Of course they have already missed the first payment. The SS account will be completely broke in a couple years.

[Boriquen]

Ha, ha, ha, ha,. Run that one by the indians & get back to me.