Comments on: The Money Gusher

By: Thomas Fischbacher

Thomas Fischbacher — Fri, 11 Jun 2010 09:46:58 +0000

JBob,

ah – a “market-governed jurisdiction industry”. I take it we then also need “Justice Vouchers” a la Yes Men?

You know what would happen if the “justice industry” went free market? “Justice” would become the product of organized gangs.

By: JBob

JBob — Thu, 10 Jun 2010 18:42:16 +0000

Thomas,

I’m not sure what your question is exactly. I’m just pointing out that the $75 million limit in liability that the government gave the oil industry creates a lot of moral hazard. As usual, government creates a problem and then demands (or Monbiot demands) yet more power to “fix” the problem.

As for what court to use, I can’t point to a reputable private court to settle this dispute since the government currently monopolizes this industry and no alternatives are allowed to exist.

By: Darren J Doherty

Darren J Doherty — Thu, 10 Jun 2010 07:09:31 +0000

We spoke to Robert F. Kennedy Jnr. about this the other day and he (through a class action) has already sued BP. He suggested that BP will have liabilities of over 35 billion from this disaster and that BP will break up as a consequence further concentrating the members of the ‘oiligarchy’. All the best, Darren

By: Thomas Fischbacher

Thomas Fischbacher — Wed, 09 Jun 2010 22:38:58 +0000

JBob,

that’s about the most confused suggestion I’ve read since a long time. Of course it was the governments’ genuine idea to have liability limits in the first place, wasn’t it? And of course, once “limited liability” is gone, the government should – if we adhere to this line of thought – of course play no role in assessing liability (jurisdiction) and enforcing it (executive) either, right?

So, tell me again: What court would you go to in order to then enforce liability?

By: JBob

JBob — Wed, 09 Jun 2010 21:05:19 +0000

From “companies and people should be liable for damages they do to others” does not follow “the government should force them to pay these potential costs preemptively.” If governments “must do something” why don’t they eliminate the liability limits they enacted a long time ago.