Robert Reich on why we need a government takeover of BP

Former labor secretary under President Clinton, Robert Reich, says the Obama administration should take over BP’s operations in the Gulf of Mexico until the oil well is plugged, comparing it to the government’s takeover of the carmaker GM last year. In a blog post on his website, he writes that this would ensure that “the firm would unambiguously be working in the public’s interest.”

Reich explains that a takeover of BP is the only way to ensure that the public’s interest is met, but should the federal government really have ownership over our energy industries?