Iam8up Blog

Headlines are being made by a $20 billion fund to compensate victims — but the U.S. government is contributing all $20 billion dollars, according to a BP press release (h/t TPM). BP will contribute between $1 billion and $2 billion per quarter, starting in Q3 2010. In effect, the USA is giving BP an interest-free loan on favorable terms. BP’s stock rose rapidly today.

*BP cuts costs to save money
*BP royally fucks up, destroying businesses and the economy
*Government gives BP $20 billion 3-5 year loan for free
*BP says whoopsy daisy

http://www.wispa.org/?p=2566
http://tinyurl.com/25qzkkp

I feel absolutely cheated that my tax dollars are helping a company survive that destroys our economy.