Quote:
Originally Posted by rmay635703
Like any company their main directive is profit motive, profit motive is risk and is completely opposing environment aspects because of the economic cost. They didn't want anyone to go out of work but they didn't do what was required to reduce the likelyhood of it either, profit prevails.
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Not really. Think about what having to pay for all the damages is doing to BP's bottom line.
The problem is not profit-seeking, but short-term profit seeking. You have a lot of management - not just at BP, but at most companies - who only care about the next quarter's results, because that's what their bonuses & promotions depend on. So they sacrifice long-term investments for short-term profits, and take risks for those profits. Same with Wall Street & the mortgage derivatives. Most sensible people knew they were insanely risky, but the managers did them anyway because the short-term profits were so good. And besides, it wasn't THEIR money. The worst that could happen if things went bad is that they'd get fired.