BP - off the hook ? ...and a BUY ?

setmefree2

amcluesent wrote: »

Having Hussein Obama ranting and raving made me look into how he'd become President 'from nowhere'.

Just Google 'Obama Soros oil'!

Seems Obama is bought and paid for by George Soros (of breaking the Bank of England fame) who recognised the Marxist, West hater in Omaba and bought him the Democrat nomination. Now Obama is Soros' poodle and jumps to his every command. The command now is to break BP and ensure that Brazilian oil (in which Soros has a huge investment) get the USA business!

Which Brazilain oil company should we be buying then

lvader

BP, they aren't small people. I've seen them, most of them are huge.

Raggs_2

Most international debts pre 1940s are all indefinitely on hold, not just that of the Great war. Read an interesting article on it when reading up on the WW2 debt. They've basically all been wiped clean, just no ones got round to cleaning the blackboard.

artha

1echidna wrote: »

No sign of Hayward being "sliced and diced" yet. True he may be rather defensively "kicking the can along the road" as one senator described it, but his approach seems to me to be appropriate. How America can think that this kind of circus, starting from a political imperative that BP is to blame, is the best way to determine the lessons of this disaster is beyond me.

Looks like the lynch mob mentality still pervades the US system and BP are guilty until the facts are revealed by which time it may be too late.

amcluesent

>BP are guilty until the facts are revealed<

Very wise of BP to stonewall! Hussein Obama has already sent his top prosecutor down to the Gulf states and has been shooting his mouth off that he want to see jail time for BP staff. Hayward could do nothing else but deflect questions on pain of being arrested.

Just another example of how Obama has ignored due process and is using the Legislative bodies to throw meat to the Judiciary by use of leading questions without caution or giving Hayward access to legal council.

spenderdave

I only saw a few minutes of the grilling yesterday while it was being shown on the BBC News channel. That was sufficient to convince myself of what a charade it was.

At one point Hayward was being quizzed by a congressman on a paper which identified '260 failure mechanisms' in the blowout preventer. My knowledge of equipment testing procedures is sufficient to know that this doesn't mean the unit has 260 faults, rather than there were 260 possible areas identified during the testing where failures might occur and the unit was tested for all these possibilities. We assume they passed them all. It was obvious that the congressman didn't know this basic fact, and it would be unrealistic for the CEO to know the details other than that his equipment follows the appropriate quality assurance procedures. Yet this was being used as evidence that the BOP was known to be faulty. A classic case, along with all the other things I heard at that time, where misquoted information is used as evidence against somebody. I was hoping he would at least challenge such misquoted accusations, but sadly he did not - the only one he did challenge was an accusation in a newspaper that a row had occurred between parties on board the rig, which apparently has been officially repudiated.

What a total mess and unfortunately nobody seems willing to tell them so.

fairtrade

Raggs wrote: »

Most international debts pre 1940s are all indefinitely on hold, not just that of the Great war. Read an interesting article on it when reading up on the WW2 debt. They've basically all been wiped clean, just no ones got round to cleaning the blackboard.

Unfortunately, someone has forgotten to tell the Americans. The last prediction I saw these debts would be paid off around the year 2050.

StevieJ

Thrugelmir wrote: »

In 1917 to pay for the Great War a gilt was issued. £2 billion was raised (£53 billion in todays money) from the British public. The gilt carried a 5% coupon. With an envisaged redemption date between 1929 and 1947. However in 1932 to cope with public finances during the Great Depression the interest rate was slashed to 3.5% and the redemption date cancelled.

The stock is now fondly called the 3.5% War Loan Stock which perpetually rolls on and on.

Oh I remember, they have popped up in exams a few times

Thrugelmir

StevieJ wrote: »

Oh I remember, they have popped up in exams a few times

Helps when you've spent several years maintaining investment fund accounting records.

Yakubu22

BP now at 375....boat missed (again)? Or is there more pain to come?