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

To: stockman_scott who wrote (254073)	6/14/2010 2:20:08 PM
From: John Koligman	Read Replies (4) \| Respond to of 306849

"BP also faces a fine of as much as $4,300 for each barrel of oil leaked under the 1990 Oil Pollution Act, said David Pettit, a senior attorney for the Natural Resources Defense Council in Los Angeles. That may mean a bill of as much as $8.6 billion based on more than 50 days of oil spilling at a rate of up to 40,000 barrels per day." If oil continues to flow at some reduced rate till the end of summer, figure BP might owe north of 10 BILLION just in fines.. Throw in 10-20 BILLION for escrow, add in future lawsuit awards, and the cleanup costs, it's pretty grim for them. Saw some postings at the 'Yahoo Zoo' about puts in the teens on BP trading strongly. I don't think even Apple's 40B+ cash hoard would be enough... John