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http://www.dailyfinance.com/story/investing/fitch-downgrades-bp-credit-rating/19516729/
Fitch has just downgraded BP's credit rating a staggering 6 notches, as Congress contemplates forcing the company to set up an escrow account of $20 billion to pay for the damage.
I trust that none of you own any BP stock personally, but the problem is that a lot of pension accounts have investments in BP stock both in Britain and America.
They keep talking like they have plenty of money to cover all the cleanup costs. The fact is, even BP can't pay for the damage going on in the Gulf, nor for the economic damage to those who live on its shores. The time is coming when they will have to file for bankruptcy. Maybe the US gov't will just take all their assets to compensate for the damage, because it's ultimately the USS gov't that will have to pay for this.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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