In the article, it reports the news of BP criminal fine over the Deepwater disaster in the year 2010. BP is pleaded guilty for 14 criminal charges and fined for a record sum of $4bn. The disaster has caused the death of 11 workers and released of millions of barrels of crude into the Gulf of Mexico over 87 days.
( http://www.bbc.co.uk/news/business-20336898 )
From my point of view, BP was wrong for overseeing safety tests on the Deepwater Horizon rig. They were also trying to cover up the incident and the real amount of crude being spilled. With all these crimes done by BP, they seem to deserve the criminal fine. But, a lot of the victims staying near Louisiana, Florida, Alabama and Mississippi claim that the fine is not sufficient to compensate and settle the damages cause. The problems that surface do not only affect the sea, it affects the ecological livings in the sea and those who depend on the fisheries to earn a living are suffering and forced to leave the industry. All of these might even have effect on the protein supply to the people living in these states and it might also cause hike in the price of sea food.
From the creation of concept “Solomon vs Solomon” and corporation as a separate a separate entity, there have been a lot of multinational companies involved in fraud or criminal, such as Enron, AIG and Lehman Brothers which have affected not only themselves but the economy of the country. As the world becomes more globalized, it is not only a problem for the country where they belong, it affects the whole world. So, the question is, should the executives and managers involved in crime and fraud hold responsibility on their wrongdoing? Should they be sentenced to jail or fined because of having no business ethics?
