Comments on: Compensation for Disaster Victims? http://jeffreymiron.com/2010/06/compensation-for-disaster-victims/ Libertarianism A to Z Sun, 06 May 2012 22:53:22 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: johndavid http://jeffreymiron.com/2010/06/compensation-for-disaster-victims/comment-page-1/#comment-3817 johndavid Wed, 20 Apr 2011 10:13:58 +0000 http://jeffreymiron.com/?p=1411#comment-3817 hi this is john it is nice to see your webiste...... ========================================== <a href="http://nowinnofeeuk.org.uk" rel="nofollow"> No Win No Fee UK</a> hi this is john it is nice to see your webiste……
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No Win No Fee UK

]]> By: Jess Austin http://jeffreymiron.com/2010/06/compensation-for-disaster-victims/comment-page-1/#comment-1485 Jess Austin Tue, 22 Jun 2010 18:35:30 +0000 http://jeffreymiron.com/?p=1411#comment-1485 Incidentally, this seems an odd (not sure if I should say unrepresentative?) column to debut L:A2Z in a new forum. Incidentally, this seems an odd (not sure if I should say unrepresentative?) column to debut L:A2Z in a new forum.

]]> By: Jess Austin http://jeffreymiron.com/2010/06/compensation-for-disaster-victims/comment-page-1/#comment-1484 Jess Austin Tue, 22 Jun 2010 18:31:45 +0000 http://jeffreymiron.com/?p=1411#comment-1484 <i>...the federal government bears some responsibility for the Gulf spill because of its failure to regulate properly. So a taxpayer contribution, if BP becomes bankrupt, is defensible.</i> Can we be clear that those who are harmed only because they chose to do business with BP are not entitled to taxpayers' money? I.e., when this episode inevitably sinks the BP pension fund, too bad. When oil rig workers have to find other work, too bad. When BP doesn't pay its vendors (some of which had a hand in this colossal screw-up), too bad. When stock- and bond-holders lose their investments, too bad. When market conditions affect downstream refiners, distributors, retailers, and consumers, too bad. Yeah, this was once inherent in the whole concept of "bankruptcy". Now that is less clearly the case. The taxpayer should not be responsible for eliminating counterparty risk. …the federal government bears some responsibility for the Gulf spill because of its failure to regulate properly. So a taxpayer contribution, if BP becomes bankrupt, is defensible.

Can we be clear that those who are harmed only because they chose to do business with BP are not entitled to taxpayers’ money? I.e., when this episode inevitably sinks the BP pension fund, too bad. When oil rig workers have to find other work, too bad. When BP doesn’t pay its vendors (some of which had a hand in this colossal screw-up), too bad. When stock- and bond-holders lose their investments, too bad. When market conditions affect downstream refiners, distributors, retailers, and consumers, too bad.

Yeah, this was once inherent in the whole concept of “bankruptcy”. Now that is less clearly the case. The taxpayer should not be responsible for eliminating counterparty risk.

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