BP Bankrupt? Is a BP Bankruptcy Possible?

BP Bankrupt?  You Gotta Be Kidding Me!

Here’s a quick blurb about BP Bankruptcy:

Will BP end up declaring bankruptcy: Mat Simmons, who runs T

exas-based boutique investment bank, Simmons & Co., thinks it will. He tells Fortune: “They have about a month before they declare Chapter 11. They’re going to run out of cash from lawsuits, cleanup and other expenses. One really smart thing that Obama did was about three weeks ago he forced BP CEO Tony Hayward to put in writing that BP would pay for every dollar of the cleanup. But there isn’t enough money in the world to clean up the Gulf of Mexico. Once BP realizes the extent of this my guess is that they’ll panic and go into Chapter 11.”

‘I promised to do good’: MBA students from Harvard and elsewhere? have taken something called the M.B.A. Oath. Now that they are descending upon Wall Street, this type of oath taking is catching on. Michael Lewis takes a look at the oaths at various firms. Deal Journal enjoyed Merril’s oath:

“We?re just grateful to be asked if we have an oath. We do!

We pledge to help the approximately 74,322 American dentists forget that we sold them auction-rate securities and equity tranches of subprime backed CDOs.

We also pledge that, the next time Wall Street plays crack the whip, we will decline Goldman Sachs?s offer to play the role of the little fat kid who gets catapulted through the second- story window of the house across the street.”