As we have been witnessing the Japan Nuclear Problem, I heard that the Japanese will need to cover US$300B+ in damages and liabilities to the TEPCO (Tokyo Electric Power Co) disaster. TEPCO is effectively bankrupt.
I can understand NOLA-Katrina, where USA take the liability because USA under the insistance of LA's MOC (HueyLong and others) promoted the Corps of Engineer for Mississippi-NOLA flood controls.
But what about Deepwater Horizon, Natural Resource companies, Nuclear Power Cos, Financial Cos.? All have the potential of catastophic failures with untold liabilities and consequences for all of USA citizens. Should we have some people oversight if we are going to eventually foot the bill?
