Barack Obama's attacks on BP hurting British pensioners

Barack Obama's attacks on BP hurting British pensioners

City investors said the president was jeopardising the pensions of millions with his "excessive" criticism of the energy company following the Gulf of Mexico oil spill. Before the accident on April 20, BP was Britain's biggest company, with a stock market value of £122 billion. Since then, £49 billion has been wiped off its value. On Wednesday, BP's share price fell a further 17.35p to 391.55p – representing a 40 per cent drop on the 655p price of a share two months ago.

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Now there is much blame to go around but this is another example about who gets hurt when rich or powerful morons screw up.

BP's position at the top of the London Stock Exchange and its previous reliability have made it a bedrock of almost every pension fund in the country, meaning its value is crucial to millions of workers. The firm's dividend payments, which amount to more than £7 billion a year, account for £1 in every £6 paid out in dividends to British pension pots

A big oil company screws up, spills the oil, threatens the environment and the economy of the gulf coast.

The Obama administration goes through the bureaucrat motions, then points the finger at everyone else to mask their ineptness.

And guess who gets hurt the most? The environment, American workers oil workers who will probably get laid off en masse, Gulf Coast business (mostly small), and now British pensioners who are gonna lose big for no fault of their own. Perfect timing with all the other troubles in Europe by the way.

BP execs will still have their money, even if they lose all their company holdings and get fired, they will still be rich after this. Obama will still continue being president, damaging the economy, foreign and domestic, by his sheer inexperience and stupidity.

There seems to be a pattern here. Just like with the housing bubble, a few people screw up, both government and Wall Street, and millions wind up getting thrown out of work because of the chain reaction.

The moral of the story boys and girls: Crap rolls down hill in this global economy.

Oh yes...blame Obama...it's all his fault. He was the one that decided to drill for oil there, he was the one operating the well when it blew, and he is the one that has botched every attempt at stopping the leak...RIGHT?

Maybe people should take responsibility in their investment choices. They invested in BP because it was making them money...but investments have RISKS...and the risks involved in an oil company are big because of situations like this. The benefits are also big because they make obscene profits...and people are greedy so they see the benefit and ignore the risks...and then cry when the house come crumbling down.

The Obama administration goes through the bureaucrat motions, then points the finger at everyone else to mask their ineptness.

Please explain to me what Obama has failed to do...please...in detail. Exactly what should he have done that he hasn't? The coast guard has been involved since day one...guess who sent them there???? And multiple other agencies have been down there since the start. So exactly what else did you want him to be doing???

Obama will still continue being president, damaging the economy, foreign and domestic, by his sheer inexperience and stupidity.

I'm not sure if you have noticed or not...but the economy has been and continues to improve. He was handed a crap economy...and he has turned it around. I know that is probably hard for you to admit...but it is true.


[edit on 10-6-2010 by OutKast Searcher]

Quote: from above poster

(I'm not sure if you have noticed or not...but the economy has been and continues to improve. He was handed a crap economy...and he has turned it around. I know that is probably hard for you to admit...but it is true. )

My response:

What Planet are you living on???????????
Please do a little research instead of watching the today show and the Kathy and Hoda show, please!!!




Okay, my reply to the original thread;



Governments only Goal is to Takeover BP Oil and they are well on their way. Hugo Chavez horay!

I am joking about this, but this should be a WAKE UP Call to the people that refuse to see the big picture.

It should scare you the ramifications of this, and whether this was done on purpose or not.


Its not like you could see this coming!



Lets see if you can name all the industries our Government has taken over so far...

I will give you an easy one.

1. Obama/Pelosi/RamE GM Chrysler Motors
2.
3.
4.
5.
6.
7.


[edit on 10-6-2010 by PRS395]

reply to post by PRS395

My response:

What Planet are you living on???????????
Please do a little research instead of watching the today show and the Kathy and Hoda show, please!!!

Let's see...stock market is up since Obama took over...housing has been rebounding...and now jobs are starting to come back.

Where exactly do you see the problem???

I know it is hard for you anti-Obama zombies to admit...but the economy is recovering...under Obama's watch. Like it or not...it is the truth.

reply to post by OutKast Searcher


Yes, the artificial numbers are rebounding. but the problems are still there, they are getting worse.

You can either live in ignorance and watch the front page of the murdoch controlled media, or you can look at the actual numbers and see that things havent improved.

Second,

Obama's attacks are hurting pensioners?
Sorry to hear that... how exactly can you praise BP though?

They are lying, greedy scum and deserve to be sent bankrupt.

reply to post by wutone


It rolls downhill. For sure. There's BP station nearby. I never buy gas there because it is higher than the Shell and the Marathon stations. However, the store inside has things that other stores don't carry, and there's a Hardee's there, too. I don't want to hurt any of these employees that work there. I've never bought gas there, so any boycott, I have already voided in the first place. But what I have seen and others talk about here is that people are just not going there as much. Yes, it will eventually harm BP, but it will harm my fellow folks way before that.

This is what it is all about. Separating peope. Alienating them from their neighbors.

Originally posted by OutKast Searcher

Please explain to me what Obama has failed to do...please...in detail. Exactly what should he have done that he hasn't? The coast guard has been involved since day one...guess who sent them there???? And multiple other agencies have been down there since the start. So exactly what else did you want him to be doing???

Really?

Frustrated Gulf Coast residents say they understand that only BP can plug the leak. But they want to know why the federal government didn't act faster to stop the oil from reaching shore, why BP hasn't been forced to skim more oil from the surface and why their request hasn't been approved to build new barrier islands to help keep the oil at bay.

www.usatoday.com...

This is interesting..

Democratic strategist James Carville, who lives in New Orleans, and Rep. Steve Scalise, R-La., are among the critics who acknowledge that the government doesn't have the technological know-how to plug the well and stop the gusher. They contend, however, that the administration has resources — oil-catching booms, manpower, planes and boats, barges and skimmers — that can collect and clean up the oil. Such moves would limit the damage to a fragile ecosystem that supports a way of life for many, including those working in the $2.4 billion seafood industry.

Even James Carville can point out what Obama has done wrong. Not exactly a right wing extreme racist eh.

Originally posted by OutKast Searcher
I'm not sure if you have noticed or not...but the economy has been and continues to improve. He was handed a crap economy...and he has turned it around. I know that is probably hard for you to admit...but it is true.


[edit on 10-6-2010 by OutKast Searcher]

An improving economy?!

You mean all those new government census jobs that were most likely churned to boost the numbers. Yea great improvement.

And those millions of pensioners losing part of the retirement, the thousands of business that rely on the Gulf, the oil workers that will be laid off because of oil drilling moratoriums, the overall destruction of the Gulf and all the economy it supports....does that sound like an improving economy?

This issue is beyond partisan. The Obama administration screwed up, everybody knows it, and everybody knows that Obama is pointing fingers. Obama might not be able to stop a leak, but he can take his bureaucratic thumb out of his anus and help the states along the gulf coast or at the very least, let them help themselves protect their coastlines without requiring them to do environmental impact studies.

So yes Obama is a failure, and is right down there with BP in screwing over the lives of regular people.

That got off topic real quick. we all have the right to blame bp, and haliburton, and goldman suks for trashing the ecosystem. forget some peoples pensions. they took the risk by investing. now they lose just like the coast is losing. I do not feel bad. as for Obama bashing bp, yes is pointing the finger at anyone else to displace the blame for bad management of a crisis.

reply to post by wutone


Boo-freaking-whoo

I hope he attacks them till they are bankrupt..

reply to post by wutone


Hold on.... so people complain that the president did not respond quickly enough or has not responded tough enough.... now he is responding in too much of a tough manner? Really? We had Rand Paul complain about how 'mistakes happen' and this president was too hard on BP, and then we had people on here 'outraged' that the president hasnt said or done enough??

Can you make up your mind? Can you and your conservative buddies come up with a consistant position to stand on over the matter?

Originally posted by OutKast Searcher
Let's see...stock market is up since Obama took over...housing has been rebounding...and now jobs are starting to come back.

LOLOL..

1. The stock market is in death throws... you know like a snake that's dead but twitches for hours.. The volatility in the market is just that - Death throws.

2. Where are you getting your housing numbers from.

3. Job numbers were inflated by temporary census workers last month.. They even counted those people multiple times. The actually number of jobs added to the market didn't even cover 1/6 of the 150,000 NEW workers that enter into the job market every month much less place anyone already unemployed.

No one wanted to see Obama succeed more than I did at the start. I was hopeful because he wasn't an "old hand" in politics. I figured he might have been more in touch with reality.

I am sorely disappointed, and anyone who is not willing to admit that this administration has been nothing less than a disaster is delusional.

Addressing the subject of the thread:

I agree this is hurting regular average Joe people. Moral of the story - Manage your own retirement funds independently, and never ever EVER accept compensation from a company in the form of stock option. That is not a perk or benefit for you, it is a perk and benefit for THEM.

Blaming Obama for BP's disaster is like blaming Jesus for being in the wrong place at the wrong time and deserving what he got. Seriously, if I ran a business and failed miserably because I cheaped out on critical safety equipment causing the death of employees and environmental damage. Would it be the governments fault for not holding my hand?

I don't get the right in the US, you complain that Obama is growing the government and getting involved too much in Americans daily lives and yet in the next breath you demand that it runs everything.


BP screwed up and caused a huge disaster. Why shouldn't they be hurt by it.

As previous posters have related, investements are risky and there are no sure things out there. Blue Chip stocks are no longer a reality. They're all vulnerable to collapse. The British Pentioners should blame their Unions and Pension administrators for putting all their eggs in one basket.

I used to be a trustee on a plan for my Union from 2000-2003 and was successfull in convincing the other trustees that we should limit our exposure to stocks and invest the majority in stable instruments like Gov't Bonds and Corporate Bonds. 911 happened a few short months after we made the switch and our plan grew at 8% and the rest shrank on average -6%. They've continued that strategy long after I left that job and it still performs well. I still put money in there from my job now. Haven't lost any money since 2000.


Obama is right to criticize BP. They've been deceitful in the process that led to them getting a permit to drill there and throughout their exploration there. Their "Disaster Response Plan" was copied and pasted from one that was created for Alaska and referenced a dead scientist to give it credence.

If BP fails completely then they only have themselves to blame. Being hard on BP will set the tone for the future of the industry. Have a real, effective response plan that you can actually implement.

If not then "NO DRILLING FOR YOU" - Soup Nazi voice

Originally posted by wutone

Pointing fingers at Obama isn't going to cut it this time. He's not the cause of this....BP screwed up. That's the bottom line. BP. They deserve to go down. Take your investments out of BP because it's only going to get worse. I'm sorry if you have money in a BP fund but that shouldn't be cause to take it easy on these creeps.

reply to post by wutone


Oh, sure - there's a good objection. Obama's attacking BP for their own screw-ups, so now the best choice is... not to attack the people who screwed up the gulf in the first place, because the people who made money off them and their "cost-saving" practices for years might suffer a dip in their portfolios.

Which, of course, is far more important than any of the ecological damage the oil gusher (let's not minimize by calling it a 'leak' anymore, okay?) will cause, or the damage to millions of people's livelihoods as a result of this colossal screw-up, or the long-term damage and harm to the entire ecosystem, the food chain, and in the end, people who live there.

No, let's forget all that and wring our hands over the financial losses of those who've benefitted for so long from the ticking time bomb that was BP's drilling and safety practices.

Now, where's that 'rolling eyes' emoticon again? Oh, there it is....



Too bad there isn't a "I have no sympathy whatsoever" emoticon...

You know what?

Blaming Obama and his administration for the BP oil leak and the following diasater and lack of intervention would be like blaming President Bush and his administration for hurricane Katrina and the lack of a rescue/cleanup plan.

What?

They did? .....nevermind then.

Dorian Soran

The VERY confused doctor

Are a few British pensioners' fund more important than an ecological system being destroyed overnight, human lives lost and livelihood gone in the Gulf?

I mean, should BP be allowed to escape wrath by the representative of the People - the President?

A BP whom had disregarded public opinions and offers of help, failed repeatedly to correct their mistake and created misery to an entire Gulf population?

Does 'private enterprise' that brooks no interferences from the govt a RIGHT not to be chastised for their incompetence and failures?

Someone here better get their priorities right, or it WILL be WE, THE PEOPLE that will tear BP to pieces for their destruction.

It's the Corporations that are gradually destroying our beautiful planet out of uninhibited greed, pocketing and hoarding their wealth while we the common masses are blamed, have to pay and live with the consequences.

Enough is Enough!

From the beginning I've always thought there is more to this than meets the eye and there is more to this than just BP.
For example:
www.youtube.com...

and also:

www.examiner.com...

And to the person who said we are in an economic recovery - ahahaha! you're killin me right now

Originally posted by Dorian Soran
You know what?

Blaming Obama and his administration for the BP oil leak and the following diasater and lack of intervention would be like blaming President Bush and his administration for hurricane Katrina and the lack of a rescue/cleanup plan.

His administration is responsible, because they allowed off shore drilling. Plain, and simple, with nobody out there, to supervise, every move. Why? It was in international waters.

If you choose to allow people to generate income, from said, that puts you in the hot seat.

He is not completely culpable, as the company he allowed, to to business is. How he has benefited in the past, from said company, is what needs to be looked into.

The blame is on BP, and the current administration, for the disaster. Who's going to end up paying, ultimately? US, tax payers.

Originally posted by OutKast Searcher

Please explain to me what Obama has failed to do...please...in detail. Exactly what should he have done that he hasn't?

He can send armies of people down to the Gulf Coast to clean the spill from the shoreline. He can allow unrestricted air space and media to film anything they want to to show the world what is really going on.

At the very least he can make sure the F*cking Boom is deployed correctly.



He can freeze all PB assets to use to make sure BP is spending every dime it needs to spend correctly to get this oil cleaned up.

He can charge BP for knowing about this potential disaster ahead of time which has been proven and make sure justice is served. He can arrest the CEO of BP and put him in the stockade.

He can ban BP from ever doing business in and around the USA forever.

Any more questions?


Oh and By the way.. every person who supports a company as corrupt as BP deserves to lose everything they have and more.


[edit on 10-6-2010 by JohnPhoenix]

Personally I hate Obama but I sooner blame Haleburton and BP for this. Furthermore any investor who sponcers this company enjoyed there profits with them so not its time to share there loses. Hopefully everyone will sell to the point that no one will pay for what its at now to the point of it going into chapter 11.

If you posting for simpathy over people who supported BP then you get nothing from me. Anyone who invests in a companys stock takes risk and thats life. If you did not want to lose then invest in a money market or another short term min risk security.

They should be happy its only BP the invested in and not Enron. Furthermore they have seen the spill thus any who stayed deserve to be punished for there market incompetance. If they bailed the day the spill hit they would have felt no change.