Pelosi backs eliminating damages liability cap

[TomCADem]

Source: The Hill

Congress should consider eliminating the caps on damages caused oil spills as the cost nears $1 billion, Speaker Nancy Pelosi (D-Calif.) said in an interview Friday.

"There is a movement afoot in Congress for that. Why have a cap?" Pelosi said in an interview with Bloomberg's Al Hunt, scheduled to air tonight.

Pelosi had previously backed the idea of raising the cap from $75 million to $10 billion for economic damages.

"You would hope that there would not be more than $10 billion of damage, but understand it is for each episode," she said.


Read more: http://thehill.com/blogs/on-the-money/domestic-taxes/100561-pelosi-back-eliminating-damages-liability-cap-

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[tblue]

1. It's a no freaking brainer!!! nt

[CountAllVotes]

2. raise the cap to $100 trillion Nancy

that might cover this "incident". :mad:

:dem:

[Fridays Child]

5. Or stick Hayward in a rocket and shoot him into outer space.

He can come back when he finds a planet to replace the one he has fatally fouled.

[wordpix]

7. no kidding---wrecking the entire Gulf Coast is a $10 billion disaster? That will cover a fraction

of the cleanup, not to mention the the cost of junk shot, top kill, cap kill, relief wells, and whatever else they try; and then there is paying for the livelihoods and homes that are wrecked for the next 50 years at least. Oh and don't forget to add in the cost of litigation for the next 20 years or so, too.

$10 billion?

More like $10 trillion and counting.

[Cha]

3. While the Dems are in the majority

this could very well get Done.

Edit..if they weren't ..the republicons would keep it capped.

[midnight]

4. Removing the caps means handing the burden of financial responsibility over

to those responsible?

[Fridays Child]

6. Quiet down!

In this country, talking sense will make you stick out like a sore thumb. :nuke:

[TheEuclideanOne]

8. If you flip it around, what does a $25 million dollar cap mean?

It means that you can profit all you want and not have to pay for any damages you cause. Pretty sweet deal. What chapter is that in the Capitalism 101 handbook?

[unblock]

9. can you imagine the uproar if they talked about a cap on profits?

[dogfacedboy]

10. NO CAP! HOW FUCKING HARD IS THAT TO UNDERSTAND?!?!