Saturday, July 10, 2010

The Political Environment: Feingold Nails Johnson On BP Stock Ownership

I'm only surprised Mr. Johnson doesn't have shares of Halliburton as well.


The Political Environment: Feingold Nails Johnson On BP Stock Ownership


hiho

7 comments:

Kevin Scheunemann said...

If this is the worst thing Feingold's smear machine can find on Ron Johnson....Feingold is in trouble.

The gulf oil well was not even an issue prior to May 2010. So every politician everywhere has to liquidate BP stock immediately as of 6/1/10? If so, many WEAC retirement programs, and municipal, state, and federal pensions are in violation!

Had Johnson sold the stock before the oil leak and the stock's downfall, he would have been better off. But then the leftists would have accused him of greed. Isn't it enough for lefties to relish in Ron Johnson's misfortune of riding the BP stock downward? (You expect him to be an oil well diaster fortune teller?)

If you want to compare the compassion of the 2 candidates:

Ron Johnson has given $2.2 million to charity over the past 5 years.

How much has Feingold given out of his own pocket to charity? I always find charitable giving is the true measure of someone's "compassion", not their lust for other people's money.

Feingold loses the compassion issue.

alan markus said...

Wow, if this is the best that Feingold has, bring it on!

As an aside, what is your vested interest in BP, via Wisconsin Retirement System? A lot of retired public sector employees seem to have done OK with that over the past few years.

I look forward to Johnson shining a light on how hedge fund meister George Soros (majority owner of Democratic Party) is set to benefit from the Gulf oil disaster. BP's criminal negligence and Obama administration's criminal incompetence have combined to create a perfect storm for Soros to score again (he made a billion dollars in one day hedging on the British pound).

Connect these dots:

Soros Invests $811 Million In Brazilian Oil

"August 15, 2008

London: Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro (Petrobras) in the second quarter, making the Brazilian state-controlled oil company his investment fund’s largest holding."


U.S. Ready to Finance Oil Drilling in Brazil

"8/5/2009

The U.S. government is prepared to provide up to $10 billion in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast, a Brazilian official said Wednesday."


The Drilling Ban Is Soros' Bonanza

"Last August, the U.S. Export-Import Bank issued a "preliminary commitment" letter to Brazil's state-run Petrobras in the amount of $2 billion, with the promise of more to follow. Why are we lending billions to a foreign oil company that made $15 billion last year?"

"The irony is that most of the deep-water rigs idled by the moratorium may shortly be snapped up by a Petrobras apparently undeterred by images of tar balls on Rio's beaches. Petrobras plans to drill to a depth of 14,022 feet, a depth that makes our 500-foot limit laughable."

"If the moratorium stands and energy prices rise, the only ones to profit will be foreign-owned companies such as Petrobras and investors such as George Soros, who has an investment in the oil giant in the neighborhood of $900 million. Yes, the same George Soros who also is a major investor in the Democratic Party and President Obama's 2008 campaign."

"Soros would love to see domestic offshore drilling shut down and those three dozen deep-water rigs sitting idle shipped off to the coast of Brazil. He has a huge investment in both Petrobras and the Democrats. He expects a return on all his investments."

"While we track the trail of oil gushing from Deepwater Horizon, we should also follow the money that will be gushing into George Soros' bank account, courtesy of the U.S. government and the American taxpayer."

Yeah, thank you Feingold campaign for opening this window for discussion! It may be lost on this audience, but believe me, it's a great topic that can grow spider legs and run around the internet.

Local_MLIS_Student said...

sorry for the off-topic comment, but thought you'd be interested that the Common Sense Citizens (sic) no longer post their meeting minutes online for all to view. The Minutes tab is now missing from http://www.cscwc.com/.

Guess their core values don't include transparency.

Mpeterson said...

Kevin,are you now writing under a couple of different names, just to squeeze in as much silliness as possible?

Mr. Marcus: Stop it with the Soros card... y'all are the first people to say "what, people shouldn't make money?" But Soros gets a pass from me forever, solely for funding the Open Society Institute and it's activities in Eastern Europe after the Soviets fell. Kevin, and I'm guessing you, alas, have never read Karl Popper -- but Soros did.

Besides the real question isn't whether anyone is making money from BP... they are a publicly traded company after all... but whether BP should be held responsible for it's mess. Johnson is already on the record suggesting maybe not.

Do you think it's okay for companies to shirk their responsibilities? Or do you think businesses are amoral agents of economic law?

Kevin Scheunemann said...

Mark,

The article criticized Johnson's holdings of BP.

I'm all for BP being held accountable. However, I'm not in favor of government interfering with the capping of the well unless the Federal government has a better plan of action to cap the well.

So far, Obama has got nothing in terms of expertise to cap the well. Johnson wants the well capped. That means keeping a Federal government, with no expertise in capping oil wells, out of the way.

When Kuwait and Iraq oil wells were scorched by Hussein, it was not the Federal government that got them capped, it was private contractors with the expertise and skill that got it done.

BTW, who was it that prevented foreign skimmer ships from entering the Gulf to help clean the mess up: the Federal Government under the Jones Act. A good President would have overidden the Jones act by executive order immediately. So Obama seems to be the bureaucratic impediment to clean up.

No, I am not "Alan Marcus", even though I'd like to claim his eloquence.

Miss West Bend said...

Local MLIS Student:

Funny how CSCWC, Ginny & Mary don't like discussing anything, huh?

http://fearandloathinginwestbend.blogspot.com/2010/07/dear-mary-weigand.html

Mpeterson said...

Sounds good to me Kev.