Please, do not put the BP money into escrow! NO money should be dead now: money must be put to work,all of it! If BP has extra money- let it buy equipment and hire people, lots of them. To help the current victims and potential victims the US and British govts are to guarantee the emergency short- term loans on behalf of the families in need with no interest to them and a certain established cap on the cash at hand. Those loans can be either FHA or through private- in both cases the money will be eventually acquired back from BP or the govt under the fixed interests. I mean the BP money NOW must not be preserved. Not a penny-all of it must go to the work done.
There could be a statement that there is still some extra money. My answer is- there is no extra money. Let BP present to the US govt. the budget of works and also let it tell how much more could be needed.Whatever left must be redirected to the development of the safe drilling technology and environmental protection.
If the plug is installed BP will survive and will be able to pay the loans off and also even dividends, maybe even prosper. But if they now put $20bln aside they do NOT HAVE TO FIGHT FOR SURVIVAL! THEY DO NOT HAVE TO PLUG THE HOLE!
This is a planetary catastrophe. It is not the disaster of Louisiana, Mississippi, Florida or Cuba. It is an Earth disaster. In such cases wise leaders redirect all the available resources to the solving of the problem first and also bring in everybody. If those $20bln are needed to pay the smart Cubans, Japanese, Chinese or Russians, so be it. It will be money well spent. By spinning the locality of the issue we here are committing a crime against Humanity and against the very people of the coast we seem to love so much. For goodness sake, let the US government do the right thing:
-Stop the wars.
-Redirect the war funding to the immediate loan guarantees and to the development of the new energy projects.
-Redirect resources using the BP funding to the Gulf. Make it a priority ONE. Erect a 'GULF DISASTER CITY' on the coast in front of that place and stay there until the work is done. MONEY SHOULD NOT BE AN OPTION!
-Put BP under receivership. Call the BIG OIL to contribute resource wise and monetary. If they do not- seize any equipment relevant to the disaster under eminent domain.
-Start criminal proceedings.
-Establish the system of loan guarantees for the Gulf families so that they can get cash now (sort of govt. insurance).
-Ask the International Scientific Community for Help.
President Obama is delivering a speech today. I keep my fingers crossed.