The Big Squeeze

C&L's Susie Madrak argues that with Orange Julius coming around to lifting the liability cap on oil companies like BP, the stage is now set for BP to file bankruptcy, walk away, and get billions of taxpayer dollars as we're stuck with the bill.

Today on "This Week" with Jake Tapper, John Boehner and Steny Hoyer both agreed that BP's liability cap should be raised.

Be afraid. Be very afraid.

Here's what I think it means: Two corporatist lackeys want the ceremonial Kabuki dance of raising the liability cap because it will play well with voters -- but will actually make BP happy because it sets the stage for their eventual bankruptcy (or that of whichever subsidiary they'll designate as the liable party), and they'll get to walk away and stick us with the entire bill. BP will be happy, the politicians who take oil company money will be happy, and Wall Street will be happy.

Everyone will be happy -- except the people and creatures whose lives were destroyed by their criminal negligence. Whee!

It's possible that this was the plan all along:  sell off BP's holdings and wells to other oil companies who take over and leave the taxpayer with all the liability.  Not like that hasn't been done before.

We'll see.