GOP blocks the Big Oil Bailout Prevention Act - Federal laws point to criminal charges in BP disaster; Transocean seeks to limit its liability using 1851 law, Palin disses move in tweet

The WSJ just reported "an effort by a few Senate Democrats to raise the cap on damage claims that BP PLC must pay for a Gulf of Mexico oil spill was blocked Thursday after Republicans said the plan wouldn't work.  This CAP repost explains the issue and what's at stake.

JR  UPDATE:  Mclatchy reports "Federal investigators are likely to file criminal charges against at least one of the companies involved in the Gulf of Mexico spill, raising the prospects of significantly higher penalties than ...