Posted on 06/11/2010 9:48:54 AM PDT by jazusamo
House Speaker Nancy Pelosi, in her sharpest rebuke yet of the oil industry, said BP should not make dividend payments to stockholders until those affected by the oil spill in the Gulf are made “whole.”
“I’m saying that they should not be paying dividends until they make these people whole and make a better effort to do it in a timely fashion,” Pelosi told reporters Friday. “These people are coming to us and saying ‘I have to take out a loan,’ ... which I can ill-afford to repay because BP is not, you know, is not paying. BP has the money, it made $17 billion last year. They went up, what, 12 points on the stock market yesterday?”
BP’s paying dividends to stockholders has grown controversial in recent days, as Gulf shore residents have complained about the speed with which the company has responded to loss of income claims.
Robert Gibbs, the White House press secretary, said Thursday he would “stay out of their legal obligations to shareholders” but added that the company shouldn’t “nickel-and-dime anybody in the Gulf” if it could redistribute profits and run pricey television ads.
Pelosi’s view was less nuanced.
“I thought dividends were something you paid because you made such and such a profit, I didn’t know it was something you paid off before you took care of your expenses,” she said.
Dems once again proving they know nothing about finance, SOX or running a business of any size.
So, how can she tell a foreign corporation what to do?
By October, she should be pretty frazzled..
The GoP will be doing her a favor by taking the house back..
So all those poor old people who have a lot of their retirement tied up in BP stock, and rely on divided payments as a supplement to their income, are now cut off thanks to Nan?
She hates Senior Citizens.
Nobody in Washington has the authority to order BP to halt dividends. Nancy’s a’peein’ in the wind.
I call for a halt to all money paid to politicians until the budget is balanced.
Maybe it is because I have family in the Gulf area whose livelihoods are completely destroyed because of BP’s incompetence, but I believe that one round nickel should not go to any BP stockholder until BP pays to fix what they have wrecked.
I hate BP even more because it is making me agree with the Dims I despise!
somehow she forgot to call for Obama to give back the huge political donations BP made to his campaigns over the years..
Did she check with the UAW and SEIU’s pension funds before saying this? I guess it doesn’t matter since she plans on bailing out these funds with taxpayers money anyway. God this woman is a train wrech of logic and reason.
Which means they only have 248 points to go to make up the 260 points they have lost since the leak started.
Including those in the Gulf who are just Joe Citizen who happens to have invested in BP? What happened to due process?
“Nancy’s a’peein’ in the wind.”
Peeing on subway grate updraft would be more appropriate ;D!
In a tasteful skirt of course.
More than anything else, she hates the Constitution.
Because she views herself as Queen of the World with unlimited power.
Which is evidence that you know nothing will actually be done beyond symbolism or basic liability. For goodness sake, Rahm's D.C. apartment is paid for by a BP consultant.
San Fran Nan is throwing red meat to the Left. They will eat up her words. But since Pelosi cares so much about the people affected by the oil spill, I think she should take half of her and her husband's $50 million fortune and give it to people along the gulf coast.
I guess the USG should stop paying dividends on its T-bills.
Even the thought that this is the right thing to do
reveals the FASCIST MINDSET of the left.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.