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World Market Nervous over BP's Possible Collapse[/b] Britain's financial and economic top officials conducted a special meeting to discuss possible actions, which the British authorities may have to take in the event the oil giant either collapses or goes bankrupt. The officials even considered a variant at which BP could be nationalized....
British Petroleum is a strategically important company for Great Britain.... BP's expenses connected with the oil spill disaster have been gathering like a snowball. British officials fear that the company may not be able to pay its dividend to pension funds of the nation.
BP's woes are having an effect on an already troubled British economy. That, in turn, will have a bad effect on Europe's troubled economy. Which will damage America's troubled economy. (Do I hear the dominoes hitting each other?)
A significant part of Britain's retirement funds depend on dividends from BP.
It looks like the widows and orphans of Old London Town will owe their small pensions to America's miserable lack of proper regulatory oversight.
So much for "winning hearts and minds"!
I am reminded of the saying:
[b]"Instead of loving your enemies, treat your friends a little better."
