Here’s video from ABC’s This Week. Donna Brazile said that the dividends British Petroleum pays to shareholders should be put in escrow until all of the oil spill claims are paid. Uber-statist Robert Reich chimed in that the United States government should take it further, and take over British Petroleum through temporary receivership.
Disregarding the fact that the British might see that as a hostile act, someone needs to explain to these people that if the incompetent federal government takes over there won’t be anything left to pay the claims. George Will did his best, but really, there’s no talking to these statists.
Update: It looks like I’m mistaken in calling BP ‘British Petroleum.’ According to Daniel Hannan BP merged with Amoco nearly a decade ago. Still, the federal government has no business taking over any oil company. Perhaps they could have called on experts from oil companies around the world to help solve or at least contain this problem. Instead they chose to ignore offers or help from experts. And we’re supposed to trust those same bureaucrats to solve the problem?