On the recordMay 18, 2010
the fundamental principle behind Wall Street reform that we are going to finish this week is accountability. Those who created the mess bear the responsibility for cleaning up the mess. One of its most important provisions promises taxpayers they will never again be asked to bail out big corporations that acted recklessly and put our economy at risk. When it comes to the ongoing catastrophe in the Gulf of Mexico, our motivation is exactly the same. It is no different. More than 20 million gallons of oil have leaked into and across the waters of the gulf coast since the Deepwater Horizon drilling rig exploded and sank about a month ago. That is double the oil that spewed from the Exxon Valdez. Eleven crewmen died very quickly, horrific deaths, unnecessary deaths. In the weeks since, an enormous tourism industry has been slowed and business at countless fisheries has been halted at a time when the gulf coast can hardly afford more economic hardship. Our environment has been polluted and life has been disrupted for many along that coast. With every passing day, those consequences are only compounded. It is the responsibility of Congress and the administration to investigate this disaster and it is the responsibility of BP and anyone else found culpable to foot the bill for the damages. They must be held accountable. Some estimate this disaster will cost more than $14 billion. We have to put our foot down and make clear that taxpayers will not pick up that tab.





