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The too big to fail is a stupid move in my opinion. One only has to look at the general mood in America... the majority are pissed off at the outcome of the banking bailouts, the arrogance of Goldman having gigantic bonuses with taxpayer money after wrecking the economy and causing high unemployment to those that saved Goldman's asses. The American public in NO WAY would support saving BP regardless of how "important" they see themselves.
In regards to how many people are employed, I have no doubt Exxon and others would buy up all BP divisions, personel, and equipment, in a heartbeat so the consumer end wouldn't even notice.
And finally a transnational company is held accountable by the amount of assets it has in that country. For Example, if BP tries to pull the "we're British, we're not privey to your laws" approach... the US simply replies "Ok... that's a nice oil refinery/depot/etc too bad it has no owners." In addition, the long term market loss of that country is a gross deterrent. True, it sucks for smaller/poorer countries... but it would work in this case.
BP should be held 100% accountable for all cleanup operations. Their assets should be seized if they fail on that part.
That being said, this is America and both parties are ridiculously corrupt and BP will stop payments after 4 years and the media move onto something else.
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"Smite the rocks with the rod of knowledge, and fountains of unstinted wealth will gush forth." - Ashbel Smith as he laid the first cornerstone of the University of Texas
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