Skip to comments.Rep. Peter Welch leading charge to force oil giant to ditch dividends and stop advertising
Posted on 06/10/2010 6:43:48 AM PDT by JustSurrounded
I caught this yesterday and had to turn off the tv in disgust.
Congress, again, wishes to throw a wrench in business and walk away. Very smug gov't wants to tell BP how to run their finances, but says the stock market will do whatever it does, as if there is no relation between the market and government meddling.
Congressman Welch was and is a smug, smirking, close-minded fool. He would not be able to pull a “D” in an undergraduate business course.
Cavuto tried to give him basic business 101 facts, and Welch was just smirking at him and spouting the same DNC talking points.
What is it with Vermont and who they elect? Is there a brain-eating fungus in the cheese up there?
In Dem minds, they already own BP. All of their resources are earmarked for the spill, and they need the Fed’s permission to spend money on anything else.
Its really stunning.
I wanted to smash the TV when I saw him with that smirk.
A large percentage of pension funds are NOT allowed to own stocks that do NOT pay dividends. If BP suspended its dividend, it would lead to a massive sell-off..probably a 50% correction DOWN from present pricing..
But it is ok to take a country, bankrupt it, run it into the ground, morally corrupt it and still run political ads and spend money like there is no tomorrow?
This proves that liberals are mathematics and economic morons. Socialists always want to confiscate wealth and punish wealth creators to their own ultimate detriment. Of course, BP is responsible, but like it or not they will need to be a part of the solution through their expertise and financial resources.
What Cavuto should have asked is this. What is BP worth if it goes out of business? Zero. And if the victims win 100 % of their claims against BP, how much is 100% x 0? This Dim still does not know.
If this guy is suggesting confiscating dividends or the entire company, what do you think BP and their executives will do before the government acts? Will they stay on to face criminal charges? Or will they try to shield their remaining assets?
The Dims also do not understand that every action results in an equal and opposite reaction. The Dims don’t understand this because they flunked physics too.
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