Thursday, June 3, 2010
It always takes a disaster or two to change the way we do things. California was the state that forced car manufacturers into producing fuel efficient hybrids and it looks like BP will stop us being so dependent on oil to produce useless things like iPads and machine gun bullets.
So cutting to the chase. BP is cheap. So cheap it could be taken over by Google. It won't go bust because it has so much cash, and a hefty fine will have little impact. It might get bought out; or as usually happens it will change its name to Sunflower Enterprises or Obamas Nobush to help us forget about its evil past.
The hypocrisy is outrageous. BP had an accident. But as pollution goes this is nothing like Saddam setting fire to the Kuwait oil rigs in the early 90s. Bush may have been an idiot but not as much as Obama who has forgotten that an American company killed 167 people on a UK oil rig during Thatcher's reign and she never said an anti-American word. Accidents do happen. Lawyers are good at analysis and coming up with solutions but are not designed to deliver anything but a few good words. Obama is such a man and his continual blaming and moaning makes him look weak and pathetic as I always knew he was. Good news for those buying BP when its on its knees though. Bad news for a Capitalist country run by a Socialist wordsmith.
NT HFM PMS NEWCITS (emii)
Bank Default Swaps Rise (bloomberg)
Third Man Haunts AIFM (hedgefundsreview)
Bored Hedgie To Give Up (finalternatives/vanityfair)
BP Worth A Punt (independent)
BP Blghts Florida Real Estate (hf-implode)
Credit Rating Agencies Given Buffet Job (bbc)
Peter Pockets Packets (hitc)
Scottish Curry (dealbook)
BP (British Petroleum) to be nationalized by the US government.