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Chairman Of British Insurance Company RSA, John Napier, Attacks Obama Over BP Handling, Accuses President Of Hypocrisy
The BP fiasco is promptly spiralling out of control, and risks to alienate perpetual US ally Great Britain. Sky News reports that it has obtained an "astonishing letter" from RSA Chairman and popular social figure, John Napier, in which the Brit goes all out on the US president. "Please forgive this open letter but your comments towards BP and its CEO as reported here are coming across as somewhat prejudicial and personal. There is no doubt that BP, as a UK PLC, is totally committed to do everything possible to contain the oil leak and meet all its obligations in the USA. There is a sense here that these attacks are being made because BP is British. If you compare the damage inflicted on the economies of the western world by polluted securities from the irresponsible, unchecked greed and avarice of leading USA international banks, there has not been the same personalised response in or from countries beyond the US. Perhaps a case of double standards?" At this point, absent some material backtracking by the president, which in turn would be seen as huge weakness domestically, an ecological disaster is set to become a diplomatic one as well.
More from the Napier letter to Obama as reported by Sky News:
He continues: The immediate issues are very challenging but are best solved working together in a more Statesman like way."
He ends the letter: "We can all agree that the first and absolute priority is to stem the leak.
"Perhaps the second one is to ensure the reputation of the Presidency outside the USA is seen as objective, balanced, able and capable of taking the heat when under pressure.
"We liked the Obama we saw at your election, can we have more of it please."
The letter follows another attack on the president over his BP comments by Mark Dampier, of the financial services company Hargreaves Lansdown.
Reffering to the fall in BP share prices Mr Dampier said: "Obama has his boot on the throat of British pensioners."
On the other hand, as we disclosed yesterday, it does not seem like a very prudent move to have $81 million of the Scottish Widows Investment Fund invested in BP. Perhaps, the UK would benefit from some diversification, and not succumb to the salesmany tricks employed by the same US investment banks that Mr. Napier now abhors. At the end of the day, should BP CDS continue rising higher above their current level in the 500s, all of this political rhetoric may soon be moot.
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From Obama and Michele's previous actions...I don't think they like the UK much. I would be surprised to hear any retraction from Obama....but who knows.
Did the Obama Huessein really give them CD's of American Culture...I thought that was a joke?
Yes he really did. And he gave the queen an iPod full of his speeches.
Apparently his family had mau mau connections in Kenya and was treated harshly by the brits. Thats why he sent the bust of Winston Churchill back to England.
Risk alienating? Already sent the bust of Churchill back to 10 Downing St. Gave HRH a fucking iPod. Alienate?
And its just not the UK. Start reading offshore editorial pages. Thought Bush harmed the US? Hah! Double-Down All In Obama set up Great Expectations during the World Apology Tour and has since Trashed Them. As per offshore Editorials.
Alienate?
Please post some links to these editorials.... thanks.
Michell Obama put her arm around the Queen. She was SHOCKED. NO ONE TOUCHES the Queen. Talk about alienating. Michell did not give her the RESPECT she deserves as the Queen of the UK.
"NO ONE TOUCHES the Queen. "
why is this? so none of her scales will fall off?
On Day One in the White House he had a bust of Winston Churchill removed and delivered by hand to the British embassy by some lackey, without comment. That had been a gift to the United States.
Wah! Who saved the UK's ass in WW2??? who???
Oh yeah, and thanks for that, we only stopped pepaying you a few years ago, nice few quid made their, well done
From 1939, 1940, and 1941 Russians mostly... plus Canadians, Australians, Indians, South Africans...
From 1942 onwards Americans front and center.
(Remember G W Bush's grandpappy was still financing the German war effort until Pearl Harbor... then those silly 'trading with the enemy' charges put a stop to it.)
Ooops! Re 1942 onward... please include Russians, Russians, Russians, Canadians Australians, Russians, etc. etc.
Re the Russians sacrifices, remember Patton's point that the US soldier doesn't go to die for his country. He's there to make sure the other bastard dies for his. The Russians cannon fodder approach is only heroic from a certain stilted point of view.
Efficient? No.
Effective? Yes. (With enough bodies that is...)
+1000
Thankyou zerohead..... the US thinks that it saves the world in every endeavour and f%$k everyone else!
When the BEF was forced to leave its arms on the beach at Dunkerque, it was the United States that immediately shipped about a million WWI rifles (with ammo), and the Spitfires thrived on special high-octane formulated and refined in the States as well. That was 1940.
Lots of American bomber birds from 1940 onward were pushed across the border into Canada and flown across the pond from Newfoundland... thus technically not breaking international law at the time.
But you are correct... essential materiel support was pretty much always flowing.
From 1939, 1940, and 1941 Russians mostly
Your homework assignment is to visit the intratubes, educate yourself about the Von Ribbentrop-Molotov pact, and then come back and tell us who many Russkis died in 1939 and 1940 and the first half of 1941 at Nazi hands. Then, you might pause to consider why Churchill titled the second book of his second volume of the history of WWII "Alone".
I get so freakin' tired of people who won't spend 15 seconds on google checking their facts before posting nonsense. I was more forgiving in the past, when you might have actually had to go to the library and/or crack a book, but nowadays, when it takes almost no effort not to come across as an idiot, it upsets me that you waste my time. Let's try to raise the level with discourse with, oh I don't know, facts?!
Great idea! Let's check...
So I still say Russians Russians and yet again... Russians!
20,000,000 Russians killed in WWII versus 400,000 Americans in the two spheres of conflict.
Here' a summation of the numbers... 75-80 percent of German losses occured on the Eastern (Russian) Front!
http://wiki.answers.com/Q/How_large_were_German_losses_on_the_eastern_front
And here are the totals...
http://warchronicle.com/numbers/WWII/deaths.htm
So you're basically stressed about their inclusion in 1939 and 1940... you are correct with timing issues as I am often wrong... my apologies!
(Someone needs to chill! :)
I didn't deny that the Russians lost tens of millions fighting their erst-while buddies, the Nazis after Germany attacked in June 1941. But you specifically said it was mostly Russkis in 1939 and 1940. So, yes, when it was mostly Brits and Canadians who were doing the dying and fighting in the North Atlantic and the skies over the Channel, I get a little exercised when you give the credit to the freakin' commies.
I stopped going to Dealbreaker when it clearly became a hangout for idiots and trolls. I found a higher level of discourse here, and I want to keep it that way. I don't mind the jokes and so on - I like to laugh too - but when I see utter bullshit posted, I'm going to call people on it. If you don't like it, check your work.
Red Army and National Guerrilla Divisions [known as Partisans].
Learn your history or STFU.
Damn fuckin strait. Someone's been watching too much Saving Private Ryan.
Either that or Saving Ryan's Privates....
That was one of the adult selections last time I stayed in a hotel.
I believe it was "Shaving" ;)
The bankers.
British gratitude for the American role in WWII has been manifest since 1945.
Your post--if not sarcastic--personifies nearly perfectly the ugly American.
Lend Lease
Thanks for trolling!
*plonk*
<Wah! Who saved the UK's ass in WW2??? who???> The wrong question.
The right question: who forced the Great Britain into the war with Nazi Germany? Hitler was looking for a peace with England.
Remember British PM Chamberlain? He did not want a war with Germany. He told the US ambassador to Britain (the late John Kennedy farther) that America forced his country to fight Germany. He called it a Jewish war that would destroy the British Empire. He was right. Following the WWII, the British Empire just disappeared.
Reminder to illiterate people:
- Both Hitler Germany and Stalin Soviet Union invaded and divided Poland. They even had a military victory parade together.
- Prior to it, Stalin invaded Finland and Soviet Union was expelled from the League of Nations.
- However, Britain and France declared a war only against Hitler. Why?
Chamberlain gave the answer. He was a British patriot and a man dying from cancer. At that time, he did not play games any more
Hypocrisy, why that's his most redeeming trait!
oohh Thats a bingo. He basically just said U.S. banks backed by political politicians wreaking havoc on global economies for their own gains which are leading to job loss and serfdorm abroad is no different than BP's oil volcano. As a matter of fact Wall Street gone wild is incredibly more detrimental to the globe.
Ben is going to have to perform some ramp jobs on BP now to appease the U.K. No worries, what is one more plate to spin Mr. Chairman.
I bought my first tranche of BP yestarday, if it goes down I will buy more. $17 would be nice.
I'm buying when it hits $.17. Oh wait, the U.S. will be bailing out BP--better buy some now.
I think you are using the word tranche wrong; unless you bought a CDO/CLO/CDO[2] compromising solely of various BP bonds and loans [which you couldn't since the debt rating is universal to a single name].
I think what you mean to say is "block" ...
Im not trying to be smart or anything but some people might get confused.
And yes; its not going BK, probably being taken over.
The Jr. gold miner crowd seems to use the word tranche. I know what your sayin though, makes sense.
If BP gets taken over, wouldn't the buyer assume the costs of the spill ?
No, depends on terms of transaction. One can buy a company lock, stock and barrel, or simply purchase assets of the company. In the latter manner, it leaves the company with the proceeds of the asset sales as well as the debt and sundry liabilities. Grossly over simplified description, but the essence of the structural differences.
And if the liabilities get left behind, then I repeat my (partially serious) statement on another thread, that BP ends up in bankruptcy. The liabilities are presently limitless, and the proceeds from the asset sale are probably the market cap plus a small premium.
I wouldn't go so far as to say bankruptcy is likely. But it's a nontrivial possiblity.
Not necessarily. The buyer could just set up a shell company which would assume all the liabilities [non-financial wise] and get BP nice and clean [pun intended]. Of course this would happen after the takeover is done.
Marla is the takeover PE queen around these parts; I mostly dabble in debt and derivatives, so I dont know the legal background of such a deal and the various strategies that could be employed during the takeover.
Regarding "tranche" and the usage of said word; I only use it when writing about strucutred products and so I might be wrong and the word could have multiple meanings when it comes to particular asset class. But, AFAIK; the most common usage is when it comes to structured products/derivatives.
Geez, I thought the most common usage of "tranche" was by the French. It means a slice of bread.
Nope, Same Way Bre-X avoided the costs of pensions. It just stays in court for a thousand years until nobody gives a damn and the original investors are dead.
Cheaper to pay a lawyer than the actual costs.
SO regardless if there is anything left in the GoM, I bet a beer no ONE single penny will ever be paid in fines because you can hire a team of lawyers for so little to delay the action to infinity.
Brits are good at that; cf 'Bleak House'...
thats something to consider.
Karl Rove fought to shut down Fanny and Freddie from 2001 to 2007.
CB: could you touch a little more on why you think BP won't take the Bankrupcy route?
BP is going to zero. It's liabilities from this disaster far exceed it's assets. Of course, a TARP bailout could change the situation. That is what stopped me from selling short.
Uh oh... cracks appearing.
Other than the obvious ass crack? I agree.
Pelosi isn't helping matters much either.
Thanks so much Mr. Napier - about time someone told Barack to shut his big fucking trap. Sick and tired of his pandering to populism - how about the U.S. President starts acting like a real leader and try to restore order to some of this chaos? And btw, where's the change?
By the time this guy's done with the presidency, gold should be at least $2500/oz and we'll still be balls-deep in the great recession.
Toodles!
Yours Truly,
Nathan Wind
He's bringing hope and change, that is until it's not good to bring hope and change then he won't bring it until it's good to bring hope and change then he'll bring it until it's not good to bring hope and change then he won't bring it until it's good to bring hope and change.
Yep that's right he's a flipflopper!
A dying fish in the boat gasping.
Like Hillary explained during the campaign, up to then all he'd done is give speeches. Who knew he had NO executive experience, negligable accomplishments as a legislator, and fuck all accomplishments outside of that, besides getting degrees.
Tyler, here is a great site for running numbers, stocks, etc., etc., created by Berkeley University.
Watch the intro first here;
http://www.wolframalpha.com/screencast/introducingwolframalpha.html
Home page here;
http://www.wolframalpha.com/
Wolfram is either the most ingenious idiot who ever lived, or the dumbest genius ever.
its the latter.
trust me on this one.
Thanks guys, I'll crawl back under my rock.
Ty... I miss your weekly insider trading buy and sell summaries. Any chance of bringing them back? (They are a wonderful window to the future...)
http://finviz.com/insidertrading.ashx
Thanks Cheeky!
all i can say is wtf
http://www.wolframalpha.com/input/?i=4-grams+11110100001000111111
Cool! Will have to run some tests on this critter!
Cutting off the US and UK pensioners would have unintended consequences.
Not really. How unintended is dead? That would solve a lot of problems in terms of pension payouts that are just starting to strangle all systems (Canada included).
"If you compare the damage inflicted on the economies of the western world by polluted securities from the irresponsible, unchecked greed and avarice of leading USA international banks, there has not been the same personalised response in or from countries beyond the US."
As I recall, many of these same banks were staffed with fat-tie, spread-collared Jermyn Street Derivative-istas (Anglo-Fabrice's if you will). The destruction of the global financial system was indeed a collective effort.
"Fab" Fabrice was based in London anyway.
And the City of London was throwing as much coal into the derivatives fire as Wall St.
As for the UK's "Pillar of virtue", aren't the Iceland banksters hiding out there, along with most of the Russian oligarchs? Stay classy, Britain!
The City is absolutely the infernal sire of the demon spawn Wall St.
There were willing and sophisticated (I use that term loosely) buyers on the other end of those transactions. I don't think LA, AL, MS and FL asked for oil to wash up on their shores.
Bottom does not exist.
Gangs are what matter in the US and by extension in the western world. Gang ways shadow the behaviour of the polite society.
So only the western economies have been hit by the US scheme? Uh no.
Guy simply recalls the US of what they have in common.
A slight disagreement among gang members.
Dont tell I raped this girl. I wont tell that you raped her first.
Of course, just as gang members who share the burden of a crime, neither Britain or the US have an incentive to spill the beans. Better to keep the victim a secret.
yup...a fitting end to the us v. england match will be a 0-0 draw.
Dear Fuck Face,
Thank you for allowing AIGFP to be domiciled in London.
American Taxpayers
PS: How much did Barclay's scoop up?
The US is doomed because we have a Campaigner in Chief. He hasn't learned that he's an executive yet.
I always laughed when during the campaign people would say, "He's the smartestguy in the room."
Genius, pure genius.
I thought Larry Summers was the smartest guy in the room. And before that, it was Jamie Diamond and Lloyd Blankfien in the article about the two of them "Saving the World".
WTF, throw in a dose of Timmah Two Hands and we're close enough for Gubbamint Work.
I thought it was Greenspan, Rubin & Summers. Dang, we got more heroes than DC Comics!
"dumbest guy in the room" would be more like it
Herbert Hoover has been reborn
Not with words, but perhaps with actions. ;-)
Hillary is also doing her bit...
http://blogs.telegraph.co.uk/news/nilegardiner/100043042/hillary-clinton-slaps-britain-in-the-face-again-over-the-falklands/
A flavour of the comments so far:-
"Is it just me or is anyone else becoming tired of American attacks on the UK eminating from the Whitehouse, Remember the Yanks need military bases such as Diego garcia and Ascention island"
"Hilary Clinton is a blithering idiot. There is NOTHING to negotiate. The last bit of 'negotiating' concluded on June 14th 1982 and we lost 257 men to prove the point.
Just to pi$$ on Clinton's bonfire I'd organise a referendum amongst the Falkland Islanders and let the result be their response to her.
Cameron needs to grow a pair and remind Obama in no uncertain terms to get a grip with his 'staff' Anymore of this rubbish and we'll find that US bases over here will be shut down. Next, remove troops from Afghanistan."
"Hillary needs to read the history and, when she does, she will find that the Falklanders have already self-determined that they are British.
Hillary could then put her President right so that he is on song for the next time he is asked."
http://www.youtube.com/watch?v=r3BO6GP9NMY
Here, here.
+10K Sterling
Hillary's whipping out her dick again
"...If you compare the damage inflicted on the economies of the western world by polluted securities from the irresponsible, unchecked greed and avarice of leading USA international banks.."
Absof***kinglutely.
He could have doubled down and mentioned Obama's career long support for the Community Reinvestment Act, ACORN, and recent tendancies of Congress to weaponize the GSE's to create mountains of bad debt in the name of allowing insolvent people to buy housing.
Rock and Roll Mr. Napier....Do not ask for whom the bells toll Obummer
Clearly, this means war.
It's the only way we can unify the country!
Instead of bringing democracy, this time we'll bring dentistry to the UK.
+1........Hilarious!
Clever...but only because they truly need it.
And for France, we bring...deodorant !
There is something about your avatar pic that makes me wanna go buy a shovel and a plane ticket. The shovel, of course, needs to be entirely made out of composite ceramics to pass the metal detectors at the airport. Then I fly to the US and locate [via Yelp or some shit] where Ayn Rand is buried.
I dig out her body with aforementioned composite ceramics shovel and set it on fire by sprinkling magnesium and thermite on her dead rotten corpse. Then I take the remains and find either a Santeria or a Voodoo priest in order to have him perform a chant and throw a spell. When said remains are enchanted I feed them to Objectivists by making a refreshing pot of tea/coffee with said remain serving as the first note of taste. Then I drink the tears they cry out due to the realization that their "reason" was not a tool sufficient enough to prevent them from eating the Santeria enchanted remains of their "teacher".
That's what I want to do every time I see that pic of your avatar.
Hey, hooray for Obama and fuck the idiot Brits. They are a bunch of alcoholics and morons and I should know b/c I have to work with them every day. They go out at lunch, get pissed on warm beer, and then stare drunk at their screens then go home and beat the kids.
Hey, sounds like fun...any job openings?
LMAO!!!!
All valid points. But at least they stare at their screens pissed, as opposed to sober, like most Yanks.
Pot meet kettle type of thing.....
Big Pharma.
"Do you have a problem? Let BraindeadplaxiumTM give you that extra happiness you need. Side effects include vomiting, addiction to other pharmaceuticals, and death."
It is the incredible leadership that the UK has had since Thatcher that has reduced their country to essentially a group of bankers and insurance co. dolts with the remainder a bunch of drunk, riot at the football game then call in sick thugs.
When dealing with anyone in middle management at a UK co (my experience was with Standard Chartered and O2) get ready for unresponsiveness and outright rudeness. Don't bother leaving a message because they won't call back.
The level of arrogance is quite simply astounding.
Nevermind old chap.
sounds like you will get fired tomorrow .... mate
sounds like you will get fired tomorrow .... mate
"We liked the Obama we saw at your election, can we have more of it please."
Campaign time is when you promise what you can't deliver. That time is over now. Barry-O has been sitting there with his thumb up his ass on this GoM disaster-- what pressure are you actually referring to? Geez, even Lloyd Blankfein can take some heat every now and then.
P.S. maybe your Scottish widdows can call Lloyd B and get a sweet deal on some CDOs.
P.P.S. There are some folks in the US who do not consider a 'great ally' one who hat the boot on our throats in 1776, more shit in 1812, siding with the South in 1865 (yeah, who doens't like slave labor and cheap cotton), and needing your asses bailed out in WW1 & 2.
P.P.P.S. Just because your moldy old royalty are taking a hit on "Safety First" BP is no reason to get pissy.
Sands 800 - totally agree with you. This is a time for leadership and a cool/calm perspective. He's not doing any better than Bush's "shoot first, aim and ask questions later" approach.
Correct
A leader should be trying to find order in the chaos, not fueling the flames
Its all distraction to keep average Americans from realizing their quality of life continues to flushed down the toilet under the auspices of both political parties.
Yours Truly,
Nathan Wind
not doing any better than Bush's "shoot first, aim and ask questions later" approach.
I think that was Cheney. W was napping most of the time or clearing brush at his property in Texas.
And the bamster has easily played more golf in his first year than bush did in 8...and that probably goes for a number of expensive leisure activities, campaign speeches, lavish frequent White House parties, and on and on. Barry likes the trappings and priveleges but doesn't have a clue what he ought to do for the good of the country. As an executive, he is functionally retarded.
Is the White House too busy to reply?
pot calling kettle black?
This administration writes the textbook on rear view politics:
Rahm Emanual is one of the most overrated Chief of Staff's the democrats ever conjured up and ultimately the President should be running the show and leading and not following public opinion with knee jerk reactions to pretend he "on it" all along.
What if he doesn't know how to run a show? particularly because he has never run a show and now he has to run the biggest one of all?
Here is another Example. If you ever need proof that media such as CNN are tools of the office look no further than the CNN frontpage. Today is a huge "Remembering the 11 workers killed on the rig"
Surely this is all coincidental since the President has been receiving critisicm for taking so long to visit with them despite his Gulf trips. Where was CNN 50 days ago? Amazing and wouldnt you know it that the President is meeting with their families at the White House tomorrow.
Disgraceful political games.
Obama and the entire bunch of his advisors could not manage a two shovel landscape company.
ahahaha!
What do you expect from a bunch of 40 something fucktards raised on 30 minute sitcoms and hour long docudramas. We are so fucked when Obama is the smartest fucking guy in the room.
In other words, "PRESENT!"
You gotta see this video of Pelosi. OMG hilarious. How can anyone say jobs that many times and preserve credibility. Her base is starting to shift our from under her:
http://www.youtube.com/watch?v=93Dww4hNBTs
Her popularity is falling faster than her face lifts.
She should get on some of the uppers that Reagan used to take.
As if Obama had anything to do with the toxic financial products that infected the Western world. That happened on GW Bush's watch, you ignorant neo-con fuckwads.
Did Huffington Post spring a leak?
Hope so! Maybe HP will sink like the Titanic!
Hey Fuckface Ignoramus (Hammer59) -
It happened under the watchful eye of Obama's two ass-buddies Barney "put it in my asshole" Frank and Chris "Countrywide" Dodd.
It was the policies both these clowns crafted with bankers that would make sure people who couldn't really afford homes would get them anyway.
Bush and Obama share the same amount of responsibility because neither of them did anything to change a completely fucked up industry. They are both part of the problem.
Cheers!
Yours Truly,
Nathan Wind
+1
A lively political debate sure brings out the knives don't it?
Fine. But Barry bathes in it, and loves it. "Wash my back Rham." "You wash mine first Barry."
There is no left. There is no right. You are ruled by one party of incompetent kleptocrats.
"Given the secular nature of many forces at play, continuing pressures on static business models, and the nature of modern mechanisms according to which imbalances build up and then unwind, it is reasonable to expect that systemic financial crises as described may be a permanent feature of the new financial regime"
'Financial Darwinism: Create Value or Self-Destruct in a World of Risk'
Leo M. Tilman, Wiley @ 2009
I hope Cameron threatens to pull UK troops out of Afghanistan if Obama Hussain fails to clean up his act re. BP. That should do the trick.
-273
Gang war. Distraction for the unwashed. We all pay for it, not TPTB.BP will be doing fine, whateverr will happen. And the pensions in UK, who cares, they are all lost, like everywhere. the best way to enslave the whole world populace. The sheeple doesn't even notice it. World Cup 2010!
Of course we don't treat people the way we want to be treated, we're 'Amurhricans', it's our raison d'etre. Obama was just projecting the national sentiment...lol
Maybe some Brit will actually "keep the boot on the neck" of the Obamanation in the White House.
I've said this many time here and and at other places....the US should hold the banks as accountable as they want to hold BP. That includes paying all wages for those put oukt of work because of the corruption of the banking system that was aided and abetted by the federal government which includes the Federal Reserve.
Amen brother same thing different toxin innocent people get fucked in the end. Prosecute them all. At this point in time I think the adult should walk into the Oval office and tell the kids to go play outside so the adults can get to work.
Let's put it real simple. The USA, a country with unsustainable debt, deficits, and social welfare demands, is in serious economic trouble. The USA has just suffered enormous and incalculable ecological and economic damage at the hands of BP, a company that used to be called British and still has very strong UK ties, and which has perhaps the worst environmental and accident record of any of the major western oil companies.
Then, on the other hand, we have the UK, a country with unsustainable debt, deficits, and social welfare demands, which is also in serious economic trouble. The UK's shaky pensions are extremely dependent on dividend payments from BP, that enormous oil company that would have done less damage if it had just nuked a medium sized US city. If BP stops dividend payments, UK pensions start looking really shaky, really fast. If BP continues dividend payments, the US will probably find a way to stop them, whether by involuntary Chapter 11 or otherwise.
It's simple folks, both countries were already in bad shape, and a disaster caused by a private corporation is creating severe harm to one of those countries, but asking that corporation to pay for the harm and set aside funds for future payments will cause immediate financial harm to the other country.
It's fun. This could be our Archduke Ferdinand moment for the 2nd/3rd stage of the financial crisis.
i like your simple perspective. Well said.
Yep...if it's not this disaster, it will be another one, natural or manmade. Katla? Katrina II? Earthquake in CA? Riots in LA, Oakland, Detroit, NYC, Scranton? Guam capsizes?
Dear Lord, not Scranton!
ROFLMAO !!!
- yep, Guam AAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHH.
http://www.youtube.com/watch?v=l9R-cQ_A_6w
The UK's shaky pensions are extremely dependent on dividend payments from BP
What kind of nonsense is this?! The two largest institutional holders of BP hold about 50 million shares between them; I don't recognize the names, so let's assume they're British pension fund trustees (all the rest of the major holders are US based funds and institutions). At the $3.36 stated dividend, that's not even $200 million annually. Among the 10 million or so retired people in the UK, that works out to less than $2/month each. Oh, yeah, extremely dependent is just the way I'd describe the situation.
Dolt.
Great Presidential Quotes:
"We have nothing to fear but fear itself"
"Ask not what your country can do, ask what you can do for your country"
"Did you plug the hole yet, Daddy?"
Chauncy Gardener for Prez in 2012!
"I like to watch."
I don't know what the Prez said specifically, but Mr. Napier and BP need to get throught their heads that the oil spill is no small deal.
It's threatening the economy of multiple US states for many years. Collectively, I'd wager the effected states have a larger GDP than the UK.
If this event is threatening BP and hurting its stock, that isn't some great injusticed invented by the President. It's pretty much deserved. Now quit bitching and plug the damn thing.
Uh... I'll give you the short version -- NO.
We have 2 versions of Obama here:
1) The Obama election/re-election version, called "Hopey Changy"; and...
2) The Obama I'm going to protect my most cherished special interests while I'm in office version, called "Ass-kissin' my friends, Ass-kickin' everyone else".
I kinda liked #1 as well... but we're ALL going to have to live with #2 for a little while longer, I'm afraid.
The first version is just corn syrup while the second version is high fructose corn syrup.
It's all saccharine bullshit.
I am Chumbawamba.
Study Finds High-Fructose Corn Syrup Contains Mercury:http://www.washingtonpost.com/wp-dyn/content/article/2009/01/26/AR200901...
Oh, FUCK your pretty little pensioners and your bitch-ass British propriety. You hiss spite through your crooked teeth while busily trying to eliminate the word "hypocrisy" from the Queen's English. Fuck you and your ugly-assed inbred "royal" family you fucking maladroit Saxon buffoon.
I am Chumbawamba.
Cheers!
Yours Truly,
Nathan Wind
I respect your restraint Chum.
Needed to be said.
Anyone for a cup of tea?
BP TEA PARTY:
http://williambanzai7.blogspot.com/2010/06/bp-tea-party.html
In an article entitled "Renegade Refiner: OSHA Says BP Has Systemic Safety Problem" by Jim Morris and M.B. Pell, written 5/16/10 for the Center for Public Integrity: "According to OSHA, two refineries owned by oil giant BP account for 97 percent of all flagrant violations found in the refining industry by government safety inspectors over the past 3 years."
There is some post-war act that could be used as a means to seize BP's N.American facilities and funds seeing as they are the cause of an existential threat to the US.
Which would be rich, seeing as the federal government is also an existential threat to the US. Out of the frying pan, into the fire.
Obama deserves Napier's harsh words and more - Not All Politicians are leaders but many leaders have been politicians. - anyways on a side note, I do sympathize with the old pensioners, however, can't help but say that the financial pain inflicted thru BP pales in comparison to the pillage and rape of countries that the Brits have carried out in the name of Trade, over the last 300 years, from the east all the way to the free world.
The Anglo-Persian Petroleum company (one such trading company) would do this to British pensioners is poetic in way, no?
I have an announcement. I am dying.
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Wall Street’s most recent foray into securitization is called “Life Settlement Funds.”4 It entails selling bundles of life insurance policies on people it claims will drop dead fast. The specific traders selling these securities say they have located a bunch of particularly sick oldsters with life insurance policies and that these policies will pay offsoon provided the sick oldsters cooperate by dying in a timely manner. What’s in this for the oldsters with good death prospects? Well, they don’t have to wait to die to collect on their policies. They can sell their policies right now to Wall Street traders for ready cash, albeit for a lot less than the face values of their policies.Should we let Wall Street trade bundles of death assets? The answer is yes provided there is an FFA to prevent the two types of fraud that will otherwise arise. The first is that oldsters will be persuaded to hand over their policies for a lot less than they are really worth because these oldsters are conned into believing that they are a lot healthier than is actually the case. The second is that Wall Street will advertise the death assets as having excellent payoff prospects, when, in fact, the oldsters named on the policies held in the death settlement funds aren’t all that ripe and ready to go.
'Jimmy Stewart is Dead' by Laurence J. Kotlikoff Wiley @ 2010
They tried to do that before securitization entered the fray with HIV infected policy holders back in the 90's. When AZT and other anti-retrovirals came onto the scene and HIV sufferers lived longer than expected it wiped many investors out.
If Goldman starts selling this product a cure for death is just around the corner...
Unfortunately, we did not elect a leader in Obama, we elected a campaigner. As a campaigner, you attack others, deflect criticism to others, and put on a show for the voters. This is exactly what Obama does. He blames Bush, now he blames BP. He will say that he accepts responsbility, but then he says he is looking for someone's ass to kick.
A leader actually does accept responsibility and he marshalls the forces to get things done, instead of simply talking about them. When Obama's head of Interior was asked whether BP has refused any request from the administration, Salazar paused for a long time, then said "No". In other words, BP is ready to do whatever the Obama administration asks, but this administration is not leading, they are not pushing solutions, they are playing politics and blaming BP. This will end badly and will expose Obama for what he is a politician who has NO leadership experience.