Chris Matthews

Chris Matthews

Posted: June 10, 2010 05:28 PM

A Dead-Serious Thought on BP

What's Your Reaction:

What is all this talk about the possibility of BP declaring bankruptcy? What would that do to the "legitimate" claims against it?

I have had this concern from the beginning that the interests of BP and those of the president are decidedly different.

BP has a responsibility to its stockholders. Already beaten down by the drop in stock value, will the stockholders now demand that BP seek the protection of bankruptcy? Will the giant oil company resort to this measure as a way of meeting its fiduciary responsibility?

That's a great question. Can the government of the United States do anything about it? That's another one.

Whatever the president can do to protect the interests of BP's American victims should be number one on his agenda.

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cvspanther   8 hours ago (12:40 PM)
Nothing that the American media says is of any credibility until they atleast mention Schumer's "Strangle Gaza because they don't believe in the Torah" comment.
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vetxcl   8 hours ago (12:19 PM)
Short comment or just edited? Why be concerned that the President's interests are different from BP's? Why shouldn't they be? It's very obvious that they are and I am glad that is so. How many times does the President need to tell you that he's going to hold them accountable? (ballpark figure) Do you like the question format? Are there other questions you'd like to raise? Is there some other topic you'd like to address by posing a question that only adds more questions? BP has a responsibility to clean up the mess it created, not just to it's stockholders. Another question: when are republicans going to admit that deregulation caused the BP calamity?
Golnick   9 hours ago (11:39 AM)
Chris, wow, really. That should be atop of the Pres. agenda? Wouldn't fixing the problem and problems, that are intertwined, be a better priority. That probelm of course is that we have deregulated ourselves into a swirling economic and now enviromental disasters. You sound like fella who's house is on fire and you believe that if the fire in the bathroom stops then you will be good, well the rest of the house is still burning. The Gulf disaster is the continuing boondogel we call deregulation. Maybe the better priority is preventing the next catastophie. Maybe, or maybe the war and the dead soldiers, or the anemic economy, oh yeah did I say dead soldiers! I know the birds and the spill and the Gulf is a tragedy, but for the love of God man how do we forget that young man and women die every day in never ending war. Yeah what was that about the Pres. top priority. Schmuck.
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celticsrule   9 hours ago (11:12 AM)
Matthews, you sound just like the teabaggers you ridicule
with your constant whining about the Pres., If you can do it
any better, get elected to office. If not, try thinking of way you
can help instead of just complaining. It is shrill
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alamantra   10 hours ago (10:54 AM)
Once again, Chris, the implication is that Obama isn't concerned with doing everything he can to protect the victims of BP, as you put it.
I've seen you take issue with his dismissive references to "24 hr cable chatter" and "talking heads" as if you don't want to be put in that group ...but you have done so yourself. I've seen you get on TV and demand President Obama send our submarines etc ...which was idiotic babble. Certainly you must realize that our Seawolf class submarines have a crush depth of around 2400 feet. So they can only go half the distance before imploding. If you had been discussing "submersibles" rather than submarines, you'd have made a better argument, though most of the really deep divers in the United States have been out of commission for years. Previous administrations haven't seen a need to fund deep water craft, though we do have and have had the technology,
...But don't ever let facts stand in the way of your sense of panic. That is what President Obama has been rightfully criticizing, but I suppose it is easier to degenerate that into "Obama hates the media" and doesn't care about the coast (even though he is from Hawaii)
Golnick   9 hours ago (11:24 AM)
Thank you. Factual data seems to elude our modern media.
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vetxcl   8 hours ago (12:23 PM)
The implication from media critics: the oil spill didn't get fixed in a sound-bite instant, therefor nothing is being done. Why isn't there a pill that corrects oil spills? (You know, just add water.)
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Jim Fourniadis   2 minutes ago (8:39 PM)
Wow, scorch.
miriamfl   10 hours ago (10:17 AM)
Chris, all I have to say is that you need to stop listening to your rightwing family members. You are not making any sense on your show any longer and your rant about President Obama rounding up the young people this summer to clean up BPs mess was ridiculous. I don't plan to watch you docu on the TEABAGGERS either. You are playing right into their tea stained hands. I miss Abramson who went right after Karl Rove and that is what you should be doing. Asking "where is TRICKIE DICKIE???? and I don't mean Nixon. Do you know he was in Saudi Arabia with all the Saudi princes in May????
toje   11 hours ago (10:10 AM)
There are several things wrong with the current buzz and "public opinion" that seems to focus on piling on BP. The first is that BP's exploration, drilling, and extraction operations exist to provide the world with oil. We all benefit from their efforts, and for the most part demand that these types of operations continue, from BP and all other oil companies. The second is that many of the jobs that are now in jeopardy, and that government officials like to cite to show the collateral damage for which BP must pay, would never have existed without the drilling business in the first place. The third is that the drop in local government revenues due the moratorium, and for which people want to add to the claims against BP, would never have been generated except for the existence of BP in the Gulf. The more rational perspective should be that we all benefit from the exploration for oil in the Gulf, therefor we should all share in the responsibility for the hardships that now must be endured.
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Daphne Hayer   7 hours ago (1:45 PM)
We don't "all benefit from the exploration for oil in the Gulf." If that were true, we would all be buying petroleum products at cost. I do not like this present trend of "profits being privatized, and risks being socialized." If the government, and therefore us, is to bear the cost of clean-up-- then the government should be paid back by BP-- just as most of the banks have paid back their loans.
tippetth   11 hours ago (9:56 AM)
Oil Spill: War Room and Public Challenge

I have two suggestions for the President and his administration.
1. Establish a war room to handle all the different aspects of the spill including mobilizing a national youth volunteer force this summer to help with the spill---after all this is a war on our national resources and animals, fish and plant life are dying every day while the Obama Administration, the media and local pols worry about reparations and blame.

2. Issue a public challenge to the oil industry (and if they were as smart as everyone thinks they are they would have done this themselves) especially to all the major American oil companies.
“Bring all your equipment and your best minds together—show how much you care about this country and the environment by putting aside competitive behaviors, small minded thinking and save one of our most spectacular resources.
If they don’t, it’s a public relations debacle and will definitely be used against them moving forward… Farther down the line, it might be interesting if Obama commandeered tankers to help move the oil out of the water…. He can give them back after its cleaned up…. What did the oil companies do in the Persian Gulf after Hussein launched the biggest oil spill in global history? This is so far beyond one company’s capacity and to continue to act like it is mind boggling….
DennyCrane   11 hours ago (9:50 AM)
If BP were truly in danger of not being able to meet its financial obligations, it could sell off its assets. Any bankruptcy court that agrees to let them go into bankruptcy probably has a judge in the pocket of big oil.
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jamaicalover   11 hours ago (9:27 AM)
Chris,

Have a dead serious thought on this and start reporting on your show every day/night.

My original post from 06/13/10.

Commented Jun 13, 2010 at 16:33:41 in Politics
“BP is no stranger to accidents, criminal liability or having our government make them pay.

Be enlightened:

http://en.wikipedia.org/wiki/BP#Incidents

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1088   12 hours ago (8:56 AM)
How much money is your network is getting from BP to blame it all on President Obama? For as you know, this is all from Cheney oil deals, and the media successfully move the blame as Obama Katrina. So Congratulation of the scam, you did a great job.
miriamfl   11 hours ago (10:10 AM)
Chris in particular, has been so ridiculous on this entire catastrophy. He is ranting on his show how president Obama should get all the young people that have nothing to do this summer to go clean up the BP mess. That is exactly what our president needs!!!!! A bunch of young adults all of the sudden comming down sick and putting claims into the Federal Gov. I can't watch this guy anymore, I love Keith, Ed. Rachel but Chris is not properly informed and now he will be doing a documentary on the Teabaggers!!!! Like they need the attention!!!!
Over50WhiteWoman   18 hours ago (2:53 AM)
BP is now being helped by Mary Landrieu and the UK, since most of the UK pension funds--and many US pension funds--are invested in BP. They are manipulating the stories here. They are saying things like, "The moratorium on drilling is hurting the Gulf economies which depend on oil drilling", which to my mind is like saying, "The City of New York is dependent on the revenues from those prostitutes and addicts paying their court fees and fines, so we can't clean up Prostitution and Drugs." This is crazy. It looks complicated, but it is not. BP has to pay. They have tons of money and lots of assets. They cannot claim bankruptcy--no uncorrupted judge would approve it. They own more than the GDP of some small countries. Yes, there will be some pain. Stockholders should know there is no guarantee of a return on investment. They have raked in the gold for years and years. Time to ante up and pay the piper. If the moratorium on drilling would hurt the economy, then they should have to pay workers for not working. And not pay dividends. And NOT raise prices. And we should stop buying their products. Period. This is really not that hard. BP is trying to cloud the issue.
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vetxcl   8 hours ago (12:25 PM)
The U.S. should find other suppliers of their current oil needs.
Paul   23 hours ago (9:14 PM)
What do you call the 3800+ offshore oil platforms in the Gulf of Mexico?

Terrorist targets.
gaubladt   23 hours ago (9:14 PM)
Speaking of America's interest: Gov. Perry of Texas called the disaster "an act of god". That would relieve BP of all resposibility. So, does that make the governor of Texas BP's most brazen b!@ch? That title deserves a reward, and followers up.
Can Perry be forgiven for making the statement at a fund-raiser held by none other than BP? Deference to the host and all that?
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alamantra   10 hours ago (10:57 AM)
We can blame god only if god's real name is Halliburton.
valboski   24 hours ago (8:43 PM)
You mean there is still bankruptcy...I thought the Federal government outlawed it.
Aaror   24 hours ago (8:57 PM)
only for the middle class, the rich and corporations are still allowed to use it.
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Lyndsey Purchon   10 hours ago (11:11 AM)
You are thinking of student loans....