On an earlier post, Another Obama Mistake-Lawsuit Talk BP, I argue as an investor, there is a school of thought that encourages stock holders to sell their holdings if their company gets hit with a serious class action lawsuit that may really put a hurting on the business.
As such, it’s my opinion that the reason BP has lost so much market value is because many stock investors are trying to preserve the capital they’ve invested in BP.
Left Coast Rebel, one the best political blogs on the net raises similar questions over Obama’s handling of BP.
From London Evening Standard:
Mayor Boris Johnson demanded an end to “anti-British rhetoric, buck-passing and name-calling” after days of scathing criticism directed at BP by the President and other US politicians.
Former Conservative Party chairman Lord Tebbit branded Mr Obama's conduct “despicable”. And with the dispute threatening to escalate into a diplomatic row, Mr Johnson also appeared to suggest that David Cameron should step in to defend BP.
He spoke as the US onslaught against the firm became a “matter of national concern” — especially given its importance to British pensions, which lost much of their value today as BP shares plunged to a 13-year low.
Left Coast Rebel writes:
Interesting.
This got me thinking.
Why is it that Obama Justice is suing BP and potentially driving them into bankruptcy in the middle of the entire nightmare?
Who will pick up the tab if the Thug-in-Chief community agitates BP into chapter 11? Who pays for the cleanup then, liberals?
I'd like to hear an answer to that.
LCR, so would I.
If I was in Obama’s place, the last thing I would do is pursue BP with lawyers and kill the stock price, especially when BP is the only entity that can solve the problem and pay off claims. You’re killing the goose that lays the golden eggs.
How dumb is that?
But, Obama doesn’t know a damn thing about any of this.
Via Left Coast Rebel
Via Memeorandum
The Last Tradition
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