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Market Talk US Justice Department To Go After BP
Headlines from the FTSE: Market talk that the US justice dept. is going after BP (BP/ LN). And the WSJ chimes in that the US justice dept. is expected to join civil lawsuits resulting from Gulf of Mexico oil spill.
More as it comes in.
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DO getting sold hard on the 5-min., has a 25% short interest.
Will be interesting to see how this one reacts to this news.
Yea, ouch, it's up > 2% today alone.
yes, let's distract the peasants. redirect that anger!
Free Angelo !
Where's Waldo?
No shit unwashed, bring back the oil spill.
It is amazing how the biggest environmental disaster ever in the US fits under the rug with all the monster financial,political, and social cover ups. One heck of a rug.
how could the feds sue for something that happened in part because it was derelict in its duty to regulate and oversee offshore drilling operations???
fucking bizzaro world
The fastest and most decisive move this administration has ever made was firing the guy who signed off on the drilling plan. Haven't heard a peep about him since.
Blaming others and taking no responsibility is what government does best.
they take no responsibility cause they're busy taking everything else
+1
Incredibly underrated comment.
+2 followed by an incredibly underrated additional comment ROFLMAO
+3... I would make an incredibly underrated comment, hold my balls and hang on but...
Some troll woman at TSA/Homeland Insecurity is already trying to...
they can't take responsibility. they are all just a bunch of dumbass attorneys...most of our problems would probably go away with a few scientists, engineers, and mathematicians in power. instead we get fucknuts who L-ie-A-nd-W-in for a living
What would be funny is if BP turned around and sued the U.S. regulators for dereliction of duty.
The Gulf oil spill was an inside job. Follow the money.
Chris Dodd was the brains behind this caper
The latest Conspiracy Theory with Ventura dealt with this topic.
Yes it did. For those interested:
http://www.youtube.com/watch?v=2Pjs11R6Y4Y
Follow the money.
Exactly!!! Follow the money...Start with Nalco and follow the trail..Halliburton ave, Blackstone pkw,Blackrock fwy...right down to Maiden Lane...
Gubment did it, follow the money. Hell theyre even doing Tv shows about the GUlf disaster being an inside job.
I liked the "crisis capitalism" comment.. Although I think more in terms of collusion capitalism.
What were the final estimates on the total volume spilled anyway? And what was the price/barrel pre spill? post spill? What if BP was closer to the mark on stated flow rate of the pipe? They did say the oil was gone.. If it was ever there in the first place.. But the increase in price/barrel easily covered the fee and then some.. Follow the money indeed..
G.W. this is all in your kb shpere.. what say you?
I'm sure somehow this will be bullish
Of course. Think of all the money going down the wallets of lawyers, most of whom have impressive portfolios.
Why wouldn't it be bullish?
Why wouldn't it be bullish? That's a tough one. But let me take a shot...
Maybe our justice dept discovers the only reason the spill occurred was to create an excuse to send in the Marines and threaten central and south american nations and install new governments to sell us oil at a good price... And of course the oil companies create a little skirmish over there to scare up domestic oil prices. A cute little ancillary benefit for them but it aint helping my buddy at three-eighty a gallon. They take their sweet time bringin the oil back, of course, maybe they even took the liberty of hiring an alcoholic skipper who likes to drink martinis and play slalom with the oil rigs. It aint too long til he hits one, spills the oil and, despite previous estimates, actually kills the majority of sea life in the Gulf. So now my buddys out of work, he cant afford to drive, so hes got to walk to the job interviews, which sucks cause the swine flu shot he took last year gave him chronic hemorrhoids. And meanwhile hes starving and every time he tries to get a bite to eat the only blue plate special is Gulf Shrimp with Quaker State.
So of course its bullish... but while I'm at it why not just shoot my buddy, take his job, give it to an illegal immigrant, hike up gas prices, bomb a Louisiana fishing village, club a baby whale, hit the hash pipe and become a community organizer? I could be elected president. Bullish for me.
No doubt this will end of any chance of the truth getting out or justice being done.
At least we now know that Maria Bart's eye liner is a tattoo
That was keeping me up at night.
Bonds getting slaughtered. No one is talking about this, can the consumer and corporations, and governments take this, i really dont think so. The Bond market might be calling the Bulls Bluff about "massive recovery on our hands"
/zb is taking quite the drubbing
O/T, but at least I am not jumping line!
One and all are invited to visit our Peruvian bearing company´s brand new website (in Spanish, we are still working on kinks, etc.)!
www.ameruperu.com
We will be polishing it up soon. Please go back to your regular programming and thanks for reading this!
Nice intro. What exactly are you offering? Ball bearings?
bori, yes, ball and roller bearings in Peru. Mostly for cars & trucks, mostly for the Korean fleet (bigger in Peru than the USA) and some for Toyota (mega in Peru as well).
It really does need a lot of work, but we´re on the case!
Bernanke...what a moron. Yields are going intraday apeshit.
Oh...sorry. I was thinking out loud.
Hey, how 'bout that Matt Simons 'accident' and that hefty BP fine, huh?
I get the feeling they're shaking the weak hands out of bonds and getting them to buy stocks right before stocks get slammed. The election/Christmas are almost over, got to keep the US flush with fresh cash. Just thinking out loud.
I like the way your mind works.
I could see you as a member of the Federal Reserve Crime Syndicate if you play your cards right and lack any ethics/morals whatsoever.
Trying to keep gold under 1400 as if that will somehow hide thier failure.
What a clever way to take over those lawsuits, make lots of deliberately bad decisions on case management and wind the whole thing up in a mediocre, pathetic settlement 10-15 years from now, effectively relieving your friends at BP from liability.
paying damages in hyperinflated dollars 10 years from now will probably cost less than a cup of coffee today, that is of course unless the USD has completely gone by then which will leave the punitive damages denominated in pine cones or brass razoos.
Not a chance. The attorneys running these cases are hopefully not fly-by-night shops... Expecting the government to be diligent enough to make any decisions is laughable. All they do is intervene... as dave attel might say, put their dicks in the fishbowl. Yes, we all know you're here now, go back to fucking off.
Regardless, the intervention of the DOJ is not going to limit the suits in any foreseeable capacity... they will not handle trial... they will not handle discovery other than to actually help get more discoverable materials given the judge will likely side with them... they will file few if any motions... they're just there to ride shotgun and take some of the credit when the plaintiffs' attorneys carry the day. They can also use any knowledge gained in the civil suit for easy bake oven criminal charges. Obviously this is ass-backwards, but if you don't want to blow taxpayer money on a legitimate criminal investigation or you cannot because of administrative corruption, then you piggyback on the civil dance.
If BP has any brains whatsoever, they will settle these asap for pennies on the dollar. After they get a dose or two of gulf state court justice, they will be crying to momma. Literally, they could prove that aliens came in and did it and they will get ass raped by gulf state juries... hopefully the plaintiffs' attorneys have not forked over their rights to sue in state court (i.e. opted out so to speak). Always, always, always on these things, the more time goes by, the more documents you get and the more damning case you can prove... the punies are just going to get bigger and bigger... my guess is literally not a single juror will ever find BP unculpable. I'll also be curious as to how much in attorneys fees BP racks up in the meantime before ultimately settling... it's going to be a really big number... just to put it in perspective, conservatively I would guess $100m/year in fees alone...
This market is so TSA
The pool seems a little thin this evening...
BP are in takeover talks with Shell.
The Justice Dept. have little chance of a case because BP won't exist by the time they get their act together. But the threat of legal action could push a merger beyond talk, which might be in the interest of both Shell and BP share holders.
BP has been rallying all day on the news.
Obummer Is More Predictable Than the Chicago Bulls
How many times is he going to come down and run that "Empty Suit" Holder pick and roll in a row?
Could also squash takeover talks if JD is actually serious and not just coat tailing for good PR for admin? The assets/acts of BP "prior" to any takeover would be the question not after. Depends on lots of factors and agreements we are yet to be aware of ? Could be a short, but too early to tell if JD is just blowing PR smoke for admin PRAVDA hype.