Like it or not we are all invested in BP.
Anyone with a pension, for example is likely to have an indirect investment in BP shares. Many thousands of Brits and Americans work there.
Our governments have to look right when they act. Their response varies from sitting on the fence, to public berating for the CEO.
But when Lehman’s was allowed to fail, the consequences were so catastrophic, that governments then had to step in and prop up the other banks. Is the same thing going to happen to BP?
A deeper question is this: do we get the companies we deserve? And if this is so, do we really want massive giant companies with near monopolistic power?
See what happens when they do get careless. Disaster! Financial, environmental, human; the cost is enormous already.
May I suggest we tighten the competition regime by blocking the largest takeovers? It won’t help now, but it will create a better future.
And is pouring scorn on the CEO really going to help? He was only doing what the shareholders wanted wasn’t he?