For better or worse gouging in a time of crisis is against the law. Record profits during a period of multiple crises seems a fair reason to investigate whether there was gouging.
Agree. V's wife.
Turning to Marxism in a time of crisis is a bad thing as well...
What about all of the iPod gouging going on? They are selling iPods and giving you less accessories than ever for no apparent reason other than to make obscene profits...
Profits expressed in total dollars or percentage? These guys are making just under 10% profit which is pretty reasonable.
2) There is no evidence that the companies have increased their profit margins at the pump.
3) A very large amount of the 3rd quarter profits were "inventory profits"
Pardon me, but your statement seems to be a pretty ignorant summary of economics and free markets. You would like us to be like the Soviet Union where they didn't gouge, right?
There is no such thing as gouging. If you don't like the price...don't buy it!!!!
"Record profits during a period of multiple crises seems a fair reason to investigate whether there was gouging." -- x5452
Did any oil stocks double and split? I don't think so. That's what gouging leads to. But something fishy is going on. Populism and shakedowns. The rats were attempting a populist shakedown. That's how they get so many corporations to donate to them: through the stick. The GOP traditionally defends businesses for philosophical reasons. So businesses don't see any need to 'buy them off'. And the really sick part of it is, the rats look like caped crusaders, fighting 'Big Business'.
This time, the GOP senators decided to derail the rats' efforts. They want to be seen on the populist stage for once, and they want to remind businesses who they should be donating to. Frankly, I don't blame them. In the short run, yes it hurts investment in all US businesses. But the long view is that the rats have been running off businesses for decades, and it's time to put this to a stop.
Until voters get better informed, and informing voters on this is a major challenge for the New Media. Many will switch channels before Rush, Hannity, or Boortz can finally convince them. It will hurt their ratings, IMHO, if they try too hard. And hard is the key word. A soft tongue can break hard bones. But it takes time. In the meantime, the GOP is deciding how best to surf this tidal wave of ignorance.
FRegards....
Do you know the difference between profits and profit margin? Do you feel that the government should be allowed to tell a business how much profit to make, or should the free market decide?