At this depressed stock price, it make sense to issue a buyback program to take advantage of the current low price. Plus, if they plaintiff know that there is huge amount of money sitting on the bank's balance sheet they will be smelling sweet blood and keep suing BP until they alll squeeze that money out of the coffers. Nice job BP.
I'm with you MPHAM, the hell with a buy back. Show me the money. I invest in BP just for that div. Now if it will let them raise the div. back to $3.00, where it historically was, I might give it a tempered OK.