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Lawmakers sold off BP shares

Updated 5:10 p.m.
By Paul Kane
Members of the congressional committees that oversee the oil and gas industry held more than $11 million in personal financial assets in that sector late last year, including at least $400,000 in the two companies at the heart of the Gulf of Mexico oil-drilling disaster.

From the nearly $100,000 in BP stock held by Rep. Frederick Upton (R-Mich.) to the nearly $650,000 in ConocoPhillips shares held by Sen. John F. Kerry (D-Mass.), lawmakers on five key panels with oversight of the oil industry held more than 110 assets in firms from that sector.

All told, the members of the five House and Senate committees had a minimum of $11.4 million in stock holdings in the oil and gas industry, with a maximum value that could have exceed $16.8 million, according to an analysis of financial disclosure forms released Wednesday.

Before the Gulf disaster, some lawmakers sold off shares in the companies at the center of the Deepwater Horizon explosion and oil spill for personal financial reasons. Among them was Kerry, whose wife, Teresa Heinz Kerry, sold off the last remaining shares she held in Transocean, the company that owned the drilling rig.

At the end of 2009, however, Heinz family trusts still held between $350,000 and $750,000 in BP stock, coming in purchases last year.

House Minority Leader John Boehner (R-Ohio) also bought as much as $50,000 worth of stock in the British oil giant, which owned the well which has been spewing oil since the April 20 explosion off the Louisiana coastline.

Wednesday served as financial-disclosure day on Capitol Hill, the one day of the year when the media and government watchdogs get a glimpse into the personal assets and transactions of members of Congress. The lawmakers must show the value of their assets on Dec. 31 of the previous year, as well as any gifts received and financial transactions they took the year before. Federal laws only require members of Congress to provide a range of values for assets, and some ranged as widely as between $1 million and $5 million.

Critics, including some members of Congress, have requested that lawmakers reveal their finances more regularly and with more detail, in order to prevent any appearance of conflict of interest between their financial holdings and their legislative portfolio.

Kerry -- who is serving as the Senate Democrat's lead negotiator on energy legislation -- has at least $6 million in financial assets from a dozen big oil and gas companies, including household names such as Royal Dutch Shell, Exxon Mobil, BP and ConocoPhillips. The senator defended his family's financial holdings, saying his wife's trusts from her first husband's ketchup fortune would not deter him from taking on the oil industry.

"Senator Kerry has been the Senate's best environmental champion for more than 25 years and has written and urged legislation to end our dependence on foreign oil. Inherited holdings in family trusts he has no control over whatsoever clearly have no impact on his fight for a green economy and a clean environment," Whitney Smith, Kerry's spokeswoman, said in a statement.

Sen. Christopher Bond (R-Mo.), who in 2008 held between $1,000 and $15,000 in Transocean shares, sold off all of his holdings in that company in February 2009, the disclosure forms show.

Overall, some lawmakers saw their energy holdings grow. House Speaker Nancy Pelosi (D-Calif.), a longtime promoter of alternative-energy legislation, saw her investment in Clean Energy Fuels -- billing itself as North America's largest provider of natural gas for motor vehicles -- grow from a minimum of $15,000 to a minimum of $50,000 by the end of 2009.

That investment represents a small sliver of the speaker's financial portfolio, which is run by her husband, investor Paul Pelosi, whose primary holdings consist of real estate -- including a Napa vineyard that continues to be valued at between $5 million and $25 million.

Read more about Pelosi and Senate Majority Leader Harry Reid's holdings here»

By Paul Kane  |  June 16, 2010; 1:10 PM ET
Categories:  2010 Election , 44 The Obama Presidency , Capitol Briefing  
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Next: Pelosi's husband paid up to $5 million for football team; Reid bummed $3,625 ride from Feinstein

Comments

Heads Should Roll! Secretary of the Interior, Ken Salazar, White House energy “czar”, Carol Browner lied! Great Article By Alan Caruba - http://votedemocraticparty.com/?p=866

Posted by: vdp101 | June 18, 2010 9:35 PM | Report abuse

How nice! Now, how about this nest of snakes refuse to take any more money from Wall Street, banks, and all of those dirty corporations that outsource jobs?

Posted by: mibrooks27 | June 16, 2010 9:52 PM | Report abuse

Few Americans like our present system whereby candidates for public office need money to run, they find the money to run and are then beholden to those who first gave them the money to run.

Yet, if you look over these comments, and I'm sure they're representative of American public opinion, the main idea is to prevent compromised elected representatives from voting on matters in which they have a financial interest.

But that's just the frosting on the cake. The cake is rotten so why frost it?

All money has to be taken out of politics. All money. That's the only way to POSSIBLE reformation. The air waves, whic belong to us, but are used by private corporations making billions, don't want to give up the air time.

But someone has to force them to give it up. Have a fair way for candidates to be interviewed, selected and then voted upon by the general public.

And.... did you see what these people who supposedly represent us are worth? How can any thinking individual call this a representative democracy? These elected official are not like you and I. This is an oligarchy, as plain as the nose on your face.

Posted by: flamingliberal | June 16, 2010 9:13 PM | Report abuse

There should be a law against any representative who profits from companies that they are passing bills on.

Posted by: erich12z | June 16, 2010 8:46 PM | Report abuse

Posted by: overdrive_68
Ha ha.
I am throwing my hands up in the air (again).

Why are the majority of people in this country - who as a group would like rules to prevent legislative conflicts of interest - so unable to make these changes in law?

How do we change laws in a way that that will negatively impact lawmakers?

HOW????

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Can you understand that you can place your investments into the hands of a financial advisor and allow them to make investment decisions for you?

Do you also understand that several Senators, (both Republican and Democrat) who are worth millions, are holding up legislation as a kind of blackmail to continue the Bush tax cuts for the upper 1% who pay a 15% tax rate on their investments instead of the 35% rate the rest of us poor slobs have to pay on our salaries?

Let me add:

"I am throwing my hands up in the air (again)."


Posted by: helloisanyoneoutthere | June 16, 2010 8:22 PM | Report abuse


"Lawmakers shed oil, gas shares?"

What are you trying to tell us?

That the politicians found their moral compass' or that the stock price of oil companies have been taking a pounding on the market over the last few months and they found they needed to dump it before they lost their shirts.


Posted by: helloisanyoneoutthere | June 16, 2010 8:04 PM | Report abuse

Ha ha.
I am throwing my hands up in the air (again).

Why are the majority of people in this country - who as a group would like rules to prevent legislative conflicts of interest - so unable to make these changes in law?

How do we change laws in a way that that will negatively impact lawmakers?

HOW????

Posted by: overdrive_68 | June 16, 2010 7:59 PM | Report abuse

No government official should ever hold stock in any company they may have government business with. That covers just about all of them.

Do you hear that, Dick Cheney? The Grand Old Party - poster child for corruption in government, human rights abuses and toal unmitigated incompetence.

Posted by: BigTrees | June 16, 2010 7:42 PM | Report abuse

Insider trading and noone will go to jail. Welcome to the "new" era of accountability where crimials run the country in broad day light.

Change you can believe in.

Posted by: NoWeCant | June 16, 2010 7:22 PM | Report abuse

NO ONE REPRESENTING THE PEOPLE OF THE UNITED STATES OF AMERICA SHOULD OWN ANY STOCK OF ANY KIND.THIS IS HOW OUR GOVERNMENT BECAME SO CORRUPT.THIS OIL SPILL WOULD NEVER HAVE HAPPENED IF THE GREEDY POLITICIANS WERE MORE WORRIED ABOUT OUR ECONOMY AND ECOLOGY RATHER THAN HOW MUCH MONEY THEY COULD MAKE BY NOT OVER SEEING THE WAY BIG OIL WAS HANDLING THEIR WELLS.

Posted by: SISSD1 | June 16, 2010 7:02 PM | Report abuse

This is a good start (or, at least, minimally acceptable) towards journalistic responsiblity on the part of WaPo.

However, it is trivial. There is much more dirt under the rugs re oil stock and much more. It could be reported and it will not. What should follow is serious investigative reporting and serious digging for conflicts of interest, which are often not on the surface. They may never show up on the beaches, but may destroy them nonetheless.

There are other conflicts of interest, and we await reports on them.

In the meantime, I recall an article published on the web titled "Senators Reveal Their Finances." It revealed hideous conflicts of interest, other violations of the law by Pelosi, Reid, Connell, McConnell, and Kennedy. IT WAS then PULLED FROM THE WEB and REPLACE with another ARTICLE: the title remained the same.

Paul Kane, are you up to the task? Can you bring the people some facts? Truth?

Posted by: farnaz_mansouri2 | June 16, 2010 6:21 PM | Report abuse

If anyone wants to see corruption in action, look at the Gulf of Mexico and the lawmakers who are as responsible for the catastrophe and mayhem. For mounting reasons my heart cries out more for the animals than for those (people) affected by the disaster who let corruption reign for so long… until now, hopefully.

Posted by: Shanan1 | June 16, 2010 5:58 PM | Report abuse

Something told me, though both my Senators probably hold these issues, there is one I was sure would never shed His investments in Texas' largest industry.
Way to hold the line Senator!

Posted by: dbrown52 | June 16, 2010 5:23 PM | Report abuse

When you post here, push the button ONCE, then refresh the page to see your post. You idiots see your rant stay in the text box and think it hasn't posted. Learn how to use the machinery before blasting away, thank you.

Posted by: info53 | June 16, 2010 5:20 PM | Report abuse

If anyone wants to see corruption in action, look at the Gulf of Mexico and the lawmakers who are as responsible for the catastrophe and mayhem. For mounting reasons my heart cries out more for the animals and less for those (people) affected by the disaster who let corruption reign for so long… until now, hopefully.

Posted by: Shanan1 | June 16, 2010 5:17 PM | Report abuse

I seem to remember as a child being told the following saying "Rats all ways desert a sinking ship" As a uk citizen I feel BP must be made to pay. Paying no dividends for a year is going to make little or no difference to most of us on both sides of the Atlantic. If it does you can surely afford to forego it. When I spill something at home I clean it up. BP -Do the same!!

Posted by: bregenz | June 16, 2010 5:17 PM | Report abuse

I seem to remember as a child being told the following saying "Rats all ways desert a sinking ship" As a uk citizen I feel BP must be made to pay. Paying no dividends for a year is going to make little or no difference to most of us on both sides of the Atlantic. If it does you can surely afford to forego it. When I spill something at home I clean it up. BP -Do the same!!

Posted by: bregenz | June 16, 2010 5:17 PM | Report abuse

I seem to remember as a child being told the following saying "Rats all ways desert a sinking ship" As a uk citizen I feel BP must be made to pay. Paying no dividends for a year is going to make little or no difference to most of us on both sides of the Atlantic. If it does you can surely afford to forego it. When I spill something at home I clean it up. BP -Do the same!!

Posted by: bregenz | June 16, 2010 5:17 PM | Report abuse

I seem to remember as a child being told the following saying "Rats all ways desert a sinking ship" As a uk citizen I feel BP must be made to pay. Paying no dividends for a year is going to make little or no difference to most of us on both sides of the Atlantic. If it does you can surely afford to forego it. When I spill something at home I clean it up. BP -Do the same!!

Posted by: bregenz | June 16, 2010 5:16 PM | Report abuse

I would suggest buying these oil and gas shares with both hands. These congressmen are idiots.

Posted by: mpg515 | June 16, 2010 5:13 PM | Report abuse

Geez, calm down.

Nothing illegal or even unethical here. Congress can own stock, they are complying with the disclosure rules, and you'd be dumping BP if YOU had it.

You people are just itching to vent outrage. Of course, the article itself is phrased to make the selling sound sleazy while admitting there's nothing unseemly about it. Guess you howlers fell right into the WaPo's trap. Funny.

Posted by: info53 | June 16, 2010 5:12 PM | Report abuse

How is going to help by dummping stocks...........OH no dividends
Rule is I made the big bucks now Dump them' If BP goes broke and files Bankrupt
how are they going to pay in to the Escrow
for the damage cause by the oil spill

Posted by: akeegan2 | June 16, 2010 4:45 PM | Report abuse

How is going to help by dummping stocks...........OH no dividends
Rule is I made the big bucks now Dump them' If BP goes broke and files Bankrupt
how are they going to pay in to the Escrow
for the damage cause by the oil spill

Posted by: akeegan2 | June 16, 2010 4:44 PM | Report abuse

FAUX News Looks Ridiculous in their Defense of BP’s actions and fight against making BP Pay Reparations for their actions that resulted in the Destruction of Hundreds of Billions of USA resources and the Livelihoods of Millions of Americans. Defending Corporate Murderers and their Criminal Negligence exposes FAUX news for the Dirty Rich, Oil and Coal Corporate Right Wing Hate Mongering Organization that they are.

Thankfully, despite GOP & Faux News Constant resistance to BP Reparations and suspension of Dividends (Faux was NOT looking out for the People, Land & Water of the USA), President Obama has worked to insure we've got something in the Bank, and an initial $20 Billion on the Way for the People and Businesses of the Gulf Coast.

Money is all BP, Massey, and likeminded Corporations Understand. They cannot bring Wildlife back to life, cannot restore what God has made to his original image, but they can Pay Restitution and Seek Redemption. That is an American Historical value that bears repeating and emulating. Also bear in mind that Faux news and every GOP lawmaker came to BP’s defense and we have to live with these people no matter the damage they seek to do to our country for their own Dubious and selfish interests. Recognize who is fighting for America’s interest and Vote for those people. Expose those supporting and defending Criminal Actions and shine the Light of Justice and Retribution upon them.

Posted by: liveride | June 16, 2010 4:40 PM | Report abuse

"Aides to some lawmakers noted that the members' shares in the now controversial oil companies were sold long before the explosion in the Gulf and were driven solely by personal financial motivations."
-------------------------------------
Despite these assurances, I am reminded of the old saying concerning foxes and henhouses. Aren't Blind Trusts in fashion with lawmakers anymore?

Posted by: shadowmagician | June 16, 2010 4:36 PM | Report abuse

These people are disgusting and so darn crooked it is pathetic! You can be your rear end they knew this was going to happen well before it was made public, this way it gave them the opportunity that we did not have to sell their shares before the values fell. I would bet, if known, Obama and the rest of his Chicago Mafia Thugs and the other congressional Democrats and a few Repubs as well dumped their stock. Could this be constrused as "insider trading"? These double- standard crooks should be put in jail!

Posted by: bulldog8 | June 16, 2010 4:21 PM | Report abuse

Most of these "Fat Cats" are Democrats.


Posted by: Jerzy | June 16, 2010 4:19 PM | Report abuse

Typical corrupt politicians. Senators, Representatives and high-level officials in the executive branch should not own shares of stock as long as they hold office. Otherwise the potential conflict of interests is obvious. Another example of wealthy politicians appearing to being beholden to special interest groups.

Posted by: Aprogressiveindependent | June 16, 2010 4:17 PM | Report abuse

Serving politicians and political appointees shouldn't be permitted to own any stock or deal in any trading. Doing so is a blatant conflict of interest. Stock they own when elected should be placed in trust for the duration of the term of their office. That trust should be prohibited from buying, selling or voting on any of the holdings.

Posted by: reiley | June 16, 2010 4:12 PM | Report abuse

liveride said: "coqui44 You are warned to abide by the Rules of this blog and keep your name calling and personal attacks to yourself." LOLOLOLOLOLOLOLOLOL... the black pot OBVIOUSLY calling the kettle oily black, LOLOLOLOL...SFB!

Posted by: dakotahgeo | June 16, 2010 3:59 PM | Report abuse

A disgusting mess all around. From the environmental disaster perpetrated by BP, to the questionable investment activity [it's not really illegal, but...] of our legislators, to the revolting performance of the Minerals Management Service. Nobody was looking out for the welfare of the people of the United States, though the welfare of plenty of special interests was well served. Private industry, pay more attention to safety and the environment. Legislators, please remember to do your jobs. Let's try to leave something good of this world for future generations. Debt, corruption, and polution sure aren't an honorable legacy.

Posted by: sober1 | June 16, 2010 3:53 PM | Report abuse

I would admonish the Washington Post to get their caca together and monitor their Opinions page. One or two repeated posts may occur but FOUR?? C'mon!!! Get it together!

Posted by: dakotahgeo | June 16, 2010 3:51 PM | Report abuse

LOLOLOL.... sounds like the Congressional RATS are abandoning the ship. No problem...just pass a law (or Executive Order would be better) that any shareholders who sell their stock after the leak started will be taxed 200% on their investments AND profits if they sell them. Any buyers of these stocks will receive a VAT of 400%. let's see how fast THAT puts a screech on the little fornicating criminals!!! And they have to help clean up the mess along the coastline, NO PAY!!! Good luck!!!

Posted by: dakotahgeo | June 16, 2010 3:47 PM | Report abuse

LOLOLOL.... sounds like the Congressional RATS are abandoning the ship. No problem...just pass a law (or Executive Order would be better) that any shareholders who sell their stock after the leak started will be taxed 200% on their investments AND profits if they sell them. Any buyers of these stocks will receive a VAT of 400%. let's see how fast THAT puts a screech on the little fornicating criminals!!! And they have to help clean up the mess along the coastline, NO PAY!!! Good luck!!!

Posted by: dakotahgeo | June 16, 2010 3:46 PM | Report abuse

LOLOLOL.... sounds like the Congressional RATS are abandoning the ship. No problem...just pass a law (or Executive Order would be better) that any shareholders who sell their stock after the leak started will be taxed 200% on their investments AND profits if they sell them. Any buyers of these stocks will receive a VAT of 400%. let's see how fast THAT puts a screech on the little fornicating criminals!!! And they have to help clean up the mess along the coastline, NO PAY!!! Good luck!!!

Posted by: dakotahgeo | June 16, 2010 3:45 PM | Report abuse

LOLOLOL.... sounds like the Congressional RATS are abandoning the ship. No problem...just pass a law (or Executive Order would be better) that any shareholders who sell their stock after the leak started will be taxed 200% on their investments AND profits if they sell them. Any buyers of these stocks will receive a VAT of 400%. let's see how fast THAT puts a screech on the little fornicating criminals!!! And they have to help clean up the mess along the coastline, NO PAY!!! Good luck!!!

Posted by: dakotahgeo | June 16, 2010 3:44 PM | Report abuse

Martha served time accused for such insider trading.
Cuff them all up.

Posted by: dottydo | June 16, 2010 3:40 PM | Report abuse

Remove BP from Cleanup Operation! They are the Criminals!! The USA should hire Private Companies to do it and Bill all Expenses to BP.

Crews idled from Oil Exploration should be working to Clean up this Oil Industry Spill. There is no reason for these men to be Sitting Around and Complaining. Join America in Cleaning up this spill. These are the Jobs that the Gulf Coast needs right now.

Bill BP for the Clean up costs Weekly even if it’s $1 Billion a week. "Get the Money and Clean it UP". The Longer it takes to Stop, the Longer they Pay for the Damage.

We need a Massive Effort to clean up this Oil Gusher. Bring in Supertankers, Barges, Skimmers, Oil Pumps, Vacuums and Separators, Sand-Sifting machines, Smart Oil Absorbing sponges, Millions of Oil Absorbing Hay Bales to lines beaches, Massive Manpower Mobilization, Hazmat Suits and Training.

1. Order BP or a Different Company to Bring in Oil Supertankers to suck in the Oil and Post Smaller Skimmer Boats closer to the Shore to get out of their way.

2. Order Barges to serve as Barrier Walls with Suction Pumps and Separators to Suck the Oil off the water and Dispose of it in Refineries along the coast.

3. Order a Massive Manpower effort to lay Millions of Oil Absorbing Hay Bales and Smart Sponges ( http://www.abtechindustries.com/ ) which Absorb Oil while Repelling Water and Float for easy retrieval, Vacuums to suck up on shore Oil and Sand-Sifting machines, which are capable of cleaning long areas of beach in minutes rather than the hours it takes to do the work by hand.

Both BP and Federal Scientists have known for weeks the Spill was up to 100,000 Barrels a Day but we have still Dragged out feet on Removing BP Obstructionists.

Posted by: liveride | June 16, 2010 3:26 PM | Report abuse

What a bunch of self-serving hypocrites!

Posted by: barrysal | June 16, 2010 3:08 PM | Report abuse

coqui44 You are warned to abide by the Rules of this blog and keep your name calling and personal attacks to yourself.
=======

Oil Companies Must Get Insurance to prove their Drilling Safety preparation. Let private Insurance Companies bring the power of Private Industry to help insure safe operations. Homeowners and Car owners get Insurance and so should Oil Drillers. Dangerous Activity that Risks Lives and Hundreds of Billions worth of USA Resources should be Insured.

As a military veteran who has served in the Middle East I am deeply offended by several Republican Congressmen’s defense of and kowtowing to BP, ExxonMobil, Chevron, Shell, and ConocoPhillips Oil Executives lack of a viable Oil Emergency Response plan and 3rd Party Insurance.

Tuesday June 15th’s hearing with Oil Executives on C-Span is a real awakening to the Corruption of Oil Politicians in allowing Oil companies to Operate in American waters with Fraudulent plans for Safety and Emergency Response as they Defend BP and fight against Reparations for the People and Resources of the Gulf Coast.

The defense of these worthless 500 page plans and lack of Insurance by Republican Congressmen is Criminal and Disgusting. If an Oil company or workers Job is to Destroy our Land and Water then you should NOT have your Uninsured Butt in our Waters.

The Oil money that has soaked these politicians is a rotting stain on their States and our Nation. If you cannot even make an effort to demand stringent Safety and Regulation of Companies that Murder your people and Destroy Hundreds of Billions of Wildlife and Water resources then you need to crawl back to the Slime you come from and let real Men and Women get the Job done right.

Remove BP from Cleanup Operation! They are the Criminals!! The USA should hire Private Companies to do it and Bill all Expenses to BP.

Ordering BP to Pay $20 Billion into a Reparations and Clean-Up Escrow Account is a first step towards Protecting the People and Resources of the Gulf Coast and Hundreds of Billions of USA Resources.

Posted by: liveride | June 16, 2010 3:06 PM | Report abuse

Remember Alan Greenspan? Yes, the much despised Chairman of the Federal Reserve!!!

Well, Alan Greenspan had ALL his wealth invested in... guess what... U.S. Treasury bonds. No stocks, no gold, no oil, no derivatives, no foreign currencies, just plain U.S. bonds.

Why?

Because he wanted his personal finances fully aligned with the nation's future prosperity.

Now, look at Kerry, Gregg and almost every other person in Washington: they are supposed to represent THE PEOPLE, yet they behave like Wall Street speculators; even worse, they behave like inside traders, acting on priviledged information, grabbing money in their way out.

November can't come soon enough.

Posted by: tropicalfolk | June 16, 2010 3:04 PM | Report abuse

... and after all the efforts of Bush-Cheney.

Posted by: whocares666 | June 16, 2010 2:25 PM | Report abuse

Say what? Lawmakers dumping shares.

Don't dump those shares lawmakers. You helped to create the laws that helped BP to make billions.

And, you created the laws that helped to make BP a ticking time bomb.

Posted by: lcarter0311 | June 16, 2010 2:23 PM | Report abuse

I guess we can applaud, bipartisan work, capitalism at it's best. I would be more blunt but I would get censored.

Posted by: shipfreakbo214 | June 16, 2010 1:58 PM | Report abuse

liveride,

You are...

If you think that paying a few bucks for the destruction of an entire ecosystem, the relocation of people which will come in a few weeks, the killing of thousands of animals bringing some to extinction, the economic destruction of the Gulf coast and the impact it will have in our total economy is God blessing, you need to stay in your psychiatric hospital.

You will not be happy if someone goes to your house and throws a party and bring the walls down and you can't rebuild the house, for them to offer you 15 hundred dollars would be an insult to you.

That's the equivalent of what is going on here.

Anyone who had a job in teh GC is gone.

You can't put a price to that kind of calamity.

Your love for corporations and money is what has this planet at the brink of collapse.

You are an ignorant and disgusting human being.

Posted by: coqui44 | June 16, 2010 1:58 PM | Report abuse

The MFs are dumping their holdings before preparing to precipitate the avalanche?

When your Saviors turn in to Predators, who do you turn to?

Posted by: kishorgala | June 16, 2010 1:49 PM | Report abuse

The MFs are dumping their holdings before preparing to precipitate the avalanche?

When your Saviors turn in to Predators, who do you turn to?

Posted by: kishorgala | June 16, 2010 1:49 PM | Report abuse

there are a lot of things (accounting fraud comes immediately to mind) that if done in the private sector would be a "corporate scandal".

Posted by: dummypants | June 16, 2010 1:48 PM | Report abuse

The MF's are unloading their holdings before getting ready to cause the avalanche?

Hey, when your Saviors are the Predators themselves, who do you turn to?

Posted by: kishorgala | June 16, 2010 1:46 PM | Report abuse

Nothing like a Great Story of Redemption

We can go from HERE:

BP and MMS Managers:

* Falsifying, inspections,
* Neglecting key safety equipment,
* Failing to perform key checks and maintenance, and
* Harassing and Intimidating workers, and whistleblowers.

BP repeatedly ignored safety, environmental rules:

http://www.washingtonpost.com/wp-dyn/content/article/2010/06/07/AR2010060704826.html?hpid%3Dtopnews&sub=AR

Article Keywords:

neglected key equipment, intimidating workers, corroded pipelines, falsified inspections, storage tanks with leaks and damage, warning system failed, pencil whipping, or falsifying inspections data, skip key diagnostics including pressure testing, pipeline cleaning and corrosion checks, harassment continued, disturbing state of disrepair, extensive tears, pervasive leaks, thousands of violations, falsified safety and inspections reports, lack of detection sensors and emergency shutoff valves, sensors and shutoff systems not operational.

The result is the killing of workers, and Hundreds of Billions in USA resources.

===========

TO HERE:

BP Pays $20 Billion in Reparations to the People and Businesses of the Gulf Coast, and $10 Billion per year in Oil Earnings until the Gulf is Restored.

BP employs Tens of thousands of USA workers in Safety Preparation, Prevention, Maintenance Inspection, Oil Cleanup Technologies, USA made Oil Platforms and USA Carbon Fiber Drilling Pipelines, Clean Up operations, making Sand Sifter machines, Laying Boom, Hay, Smart Sponges, manning Barges, Pumps and Separators and other Oil Cleanup Technologies.

BP carries Disaster Insurance to prove their Drilling Safety preparation and Employs the Power of Private Insurance Companies to help insure safe operations.

BP becomes the Safest and most Productive Oil Company on the planet.


That is a Goal to Love.

Posted by: liveride | June 16, 2010 1:38 PM | Report abuse

Interesting in light of the article the other day about Congress not being subject to the same regulations regarding investments as say the exec branch.

Isn't it possible that some of these members have an inside line on legislation in the works for regulating energy companies?

Anywhere else this might be considered inside trading.

Posted by: BEEPEE | June 16, 2010 1:31 PM | Report abuse

How about returning the campaign contributions and refusing invitations to social affairs.

Posted by: pbarnett52 | June 16, 2010 1:30 PM | Report abuse

If that is not the best case of insider trading then this is Cuba.

Mygod. They are dumping anticipating the laws they are going to pass.

Let them recoup their profits and for the rest of the people in the Gulf coast, eat oil.

Posted by: coqui44 | June 16, 2010 1:28 PM | Report abuse

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