Friday, November 16, 2012

BP Settles Criminal Case With DOJ

[Official BP Logo depiction from wikipedia] 
Yesterday, we learned more about the anticipated resolution of criminal charges by the BP Oil Company with the Department of Justice. The charges, of course, relate to the Gulf of Mexico oil spill--the worst offshore oil spill in U.S. history. According to news reports, BP has settled its own (corporate) criminal liability by pleading guilty to felony misconduct and agreeing to pay a total penalty of about $4.5 billion over the next six years.

This announcement by the U.S. Department of Justice pertains only to BP's corporate criminal liability. Other criminal charges against several executives, along with some civil claims for damages, remain unresolved.

What do you think about this resolution, which is the largest monetary penalty imposed in U.S. history? Was it enough?

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