From Robert Reich:
"One day after he was blasted on Capitol Hill, BP CEO Tony Hayward has been removed from day-to-day management of the oil spill. BP’s chairman has turned it over to a BP managing director, Bob Dudley.
"That makes sense from a PR standpoint. Before the congressional hearings, Hayward seemed merely overwhelmed. After yesterday, the mere thought of Hapless Hayward in charge of plugging the hole strikes most people as ludicrous. Hayward told Congress he knew nothing, took no responsibility, and wasn’t able to comment on a thing.
"Yet Dudley’s only apparent qualification is he’s an American. Dudley still reports to the same BP board of directors. They are responsible to the same BP shareholders. Those shareholders still, naturally, want BP to maximize share values and not spend a dollar (or pound) more than necessary."
Read the rest here.