On Monday's episode of "The Bold and the Beautiful" Liam calls a meeting in Dollar's Bill's office. Once everyone arrives he proceeds to share what his dad has recently been up to. Bill protests but Liam stands his ground and asks the authorities to take his father to jail.

Liam reveals the truth about both Caroline and Bill

Bill Spencer has referred to his son Liam as a goody two shoes, a boy scout, and Dudley do Right. On Monday Liam proved his father to be correct, as he revealed several damaging truths.

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The fallout will be epic for everyone involved but especially for Liam himself. After everyone was assembled in Bill's office [VIDEO], Liam announced that Caroline was not dying.

Wyatt was dumbfounded as he was left out of the loop regarding this latest scheme. A tearful Caroline admitted it was true and Thomas was outraged. Sally looked shocked and Steffy who already knew simply watched it all unfold.

Before the group could digest this information Liam dropped the big one on them. He said that his father was responsible for the fire at "Spectra Fashions." Dollar Bill first told his son not to say anything, then he denied it, but the group in his office knew it as true. even Caroline through her tears of shame was outraged that he uncle would go so far just to obtain a piece of property. The authorities were called and Liam had them take his father to jail.

Liam may lose everything

Dollar Bill Spencer has the money and means to stay on top of most every situation.

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If the arsonists he hired did their job correctly, no evidence will be found. After the hype dies down the cause of the Spectra building fire will end up being faulty wiring. The only saving grace will be if somehow Liam recorded his dad's confession. Whether Bill walks away or not, [VIDEO] his son may lose everything.

Bill threatened that he would cut his son off leaving him penniless if he continued to pursue this matter. Liam will lose his father's love and trust, be fired from "Spencer Publications," have to move out of his home, and be cut out of the will, which means he loses his inheritance. There will also be tension with Thomas and Caroline and custody of their son Douglas may now be an issue. And of course, everyone in that room will hate Dollar Bill, including Brooke when she finds out. The animosity will only last however for a season.

Fans of "The Bold and the Beautiful" realize, however, that everything will probably work itself out by November. This is because every Thanksgiving all is forgiven for one day between the Forresters and Spencers. It's very likely that Dollar Bill will be seated at the table breaking bread and eating turkey with Sally on one side and Liam on the other. Thomas and Caroline may be side by side with Wyatt and Steffy taking not e of it all. Of course the day after the holiday, it will be business as usual.