Retroactive legistlation
 

First we had Gordon Brown threatening legal action to stop Fred Goodwin getting his contracted bonus.

Now we have Obama threatening to overturn a law which caps the liability for BP.

Am I the only one who's seriously worried about the increasing frequency leaders are willing to retroactively change laws to attack some particular bogeyman?

Re: Retroactive legistlation
 

Link?

Re: Retroactive legistlation
 

First ive heard of it, but it seems wrong to me.

Re: Retroactive legistlation
 

Fred Goodwin: http://news.bbc.co.uk/1/hi/7914993.stm

Obama: http://www.guardian.co.uk/environmen...-cleanup-costs

Re: Retroactive legistlation
 

Very dangerous territory

Re: Retroactive legistlation
 

Oil companies and banks making billions....

I guess I can see why they seem to be fair game to be honest.

Re: Retroactive legistlation
 

It seems to me that in the Goodwin case there was a claim of the government (having just pumped billions in the bank) being misled, it is also quite clear that taking this amount of money for failure is wrong, and the amount of money is just obscene. I also don't see how legislation was changed retroactively in this case.

Regarding Obama: yes, this looks wrong, and I wonder how he plans to get away with it. I doubt he can.

Re: Retroactive legistlation
 

sounds unconstitutional to me [you'd think he'd know that].
he should concentrate on fixing the problem rather than finding a scapegoat .

Re: Retroactive legistlation
 

The problem with politics is that in fixing a problem may cost you as a politician a lot more in votes than you will ever gain in votes.

Re: Retroactive legistlation
 

I don't have any sympathy for BP but I do think it is a very dangerous route to take. If the principle of retroactive legislation is acceptable for BP then furhter down the line it could be applied to other areas of the law.

Re: Retroactive legistlation
 

It's against The European Bill of Human rights to be charged for a crime which was not a crime when the act was commited. I think this applies to indivduals and not companies however. So thankfully we have protection in the UK.

As for BP, I don't have much sympathy.

Re: Retroactive legistlation
 

But no new crime is introduced here either. Obama is considering (retroactively) raising the amount the company is liable for. He's not introducing a new crime. It's still dodgy though.

Re: Retroactive legistlation
 

Yeah. I was just pointing out that individuals have protection if this were to apply to standard criminal acts. Goverments in the EU, and presumably America (protect by their constitution), cannot introduce retrospective criminal acts.

Re: Retroactive legistlation
 

its payback for chucking all that tea into Boston harbor ;)
except this is Texas tea.