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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (251972)	6/4/2010 5:59:51 PM
From: stockman_scott	Read Replies (1) \| Respond to of 306849

<<...Another good reason for BP to grossly underestimate the size of the oil flow...>> Yup, another reason to not allow BP to be in charge of the crime scene. If Attorney General Holder and his team find BP lied to the government they can force the company to pay a fine up to $4,600 per barrel of oil that has escaped from the well -- I've seen projections that that fine alone might cost BP between $30 - $40 Billion (depending on how you end up measuring the oil spill)...And then you have to consider all the cleanup costs, multiple law firm costs for the defense campaign, shareholder lawsuits, and the over 200 plaintiff's lawsuits...IMO, BP has so much more liability than most of the Wall Street ANALysts realize right now...And I don't believe the BP CEO Tony Hayward when he says that his firm will be able to continue to pay their very high dividend and pay for all the costs of the oil spill (maybe in the near term but not out on the horizon).