uh oh.... democrats going to stop BP from paying dividends??

martybegan

Diamond Member
Joined
Apr 5, 2010
Messages
53,048
Reaction score
10,334
Points
2,040
I'm not sure there is a mechanism for this besides the bully pulpit.

probably just some congresscritters trying to get some airtime.
 

sangha

Senior Member
Joined
Jun 1, 2010
Messages
5,997
Reaction score
179
Points
48
Senate Democrats to BP: Suspend dividend payment | NOLA.com

not sure I can agree with punishing the share holders and I wonder where the senate would get authority to do this
How dare the US prevent BP from emptying its' coffers just before it's about to get hit with billions in lawsuits!!! :cuckoo:

And those BP investors should not suffer because they made a bad investment. Doesnt anyone know how capitalism works? :cuckoo:

The people who invested in BP had no idea what they were investing in, so why should they pay for the mess they financed? If we punish these uninformed investors, who is going to provide the capital to finance the next big screwup?
 

Sinatra

Senior Member
Joined
Feb 5, 2009
Messages
8,013
Reaction score
1,008
Points
48
BP is not an American company.

Silly.
 

WillowTree

Diamond Member
Joined
Sep 15, 2008
Messages
84,336
Reaction score
15,786
Points
2,180
yep,, same thing obie wan did to the shareholders and bondholders at GM .. screw em.
 

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
55,318
Reaction score
17,184
Points
2,250
Location
The Land of Funk
Great. Sarbox has already drive a great deal of financial market activity out of the U.S. Let's do even more to drive business off shore.
 

sangha

Senior Member
Joined
Jun 1, 2010
Messages
5,997
Reaction score
179
Points
48
Great. Sarbox has already drive a great deal of financial market activity out of the U.S. Let's do even more to drive business off shore.
So now you're worried that the offshore drilling might be driven offshore?:clap2:
 

xsited1

Agent P
Joined
Sep 15, 2008
Messages
17,746
Reaction score
5,777
Points
198
Location
Little Rock, AR
Senate Democrats to BP: Suspend dividend payment | NOLA.com

not sure I can agree with punishing the share holders and I wonder where the senate would get authority to do this
Great comment from your link:

Posted by nowlookhear
June 02, 2010, 1:22PM

You guys are F'n geniuses! Let's punish the shareholders so that we can spread the suffering across the Globe! Do you have any idea how many retirement portfolios have a heavy weight on the BP dividend. I'm sure the two senators had THEIR brokers pull out before they sent this letter. Do they not understand that rather then retaining all of their earnings, BP has taken care of those who invested in them. Get to cleaning up and send them the bill. You let them decide what they are going to do with their dividend. Idiots.
 

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
55,318
Reaction score
17,184
Points
2,250
Location
The Land of Funk
Great. Sarbox has already drive a great deal of financial market activity out of the U.S. Let's do even more to drive business off shore.
So now you're worried that the offshore drilling might be driven offshore?:clap2:

Just who do you think BP hires to work in the gulf?

My comment had to do with the financial markets, which you apparently don't understand, btw.
 

sangha

Senior Member
Joined
Jun 1, 2010
Messages
5,997
Reaction score
179
Points
48
Great. Sarbox has already drive a great deal of financial market activity out of the U.S. Let's do even more to drive business off shore.
So now you're worried that the offshore drilling might be driven offshore?:clap2:

Just who do you think BP hires to work in the gulf?
I see you're still worrying about the offshore drilling being driven offshore

PS - the answer is "Halliburton"

My comment had to do with the financial markets, which you apparently don't understand, btw.
SO offshore drilling is part of the financial markets? I sure don't understand that, but I'd just LOVE to hear you explain it. I could always use a chuckle
 

Dont Taz Me Bro

Diamond Member
Staff member
Moderator
Gold Supporting Member
Joined
Nov 17, 2009
Messages
50,338
Reaction score
14,653
Points
2,220
Location
Las Vegas, Nevada

dilloduck

Diamond Member
Joined
May 8, 2004
Messages
53,240
Reaction score
5,794
Points
1,850
Location
Austin, TX

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
55,318
Reaction score
17,184
Points
2,250
Location
The Land of Funk
So now you're worried that the offshore drilling might be driven offshore?:clap2:

Just who do you think BP hires to work in the gulf?
I see you're still worrying about the offshore drilling being driven offshore

PS - the answer is "Halliburton"

My comment had to do with the financial markets, which you apparently don't understand, btw.
SO offshore drilling is part of the financial markets? I sure don't understand that, but I'd just LOVE to hear you explain it. I could always use a chuckle

Oh my. Back to the beginning.

This thread is about preventing BP from paying dividends. Those are financial transactions. BP is a British plc. They are perfectly free to move their financial activity out of the U.S. Sarbox was kneejerk legislation enacted as a political response to Enron, which punishes companies who do not break the law. The net impact of this has been to reduce IPO activity and relocate financial activity to non-U.S. exchanges.

If you think the U.S. losing its primacy as a financial center is good for the country, then recheck your premise.

Now, for the employee base of BP in the Gulf: a great deal of them are Americans who live in the gulf region. The fishing industry has been virtually wiped out due to the oil spill. Let's complete devastate the region by wiping out the oil industry as well. That'd be real good. Gulf sourced oil fuels about 10% of the economic activity in the U.S. If you're lucky, perhaps the loss of it will decimate your job.
 

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
55,318
Reaction score
17,184
Points
2,250
Location
The Land of Funk
Senate Democrats to BP: Suspend dividend payment | NOLA.com

not sure I can agree with punishing the share holders and I wonder where the senate would get authority to do this
BP has a responsibility for paying for the damages they have caused. If the shareholders take a hit, too bad. That's part of the risk.
This is America for God's sake. Since when did we start holding people responsible?


Obama said it was his responsibility now. I vote for holding him accountable. He asked for it.

;)
 
Last edited:

Political Junky

Gold Member
Joined
May 27, 2009
Messages
25,793
Reaction score
3,984
Points
280
Shareholders in BP have already taken a huge loss in the London and New York stock exchanges.
 

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
55,318
Reaction score
17,184
Points
2,250
Location
The Land of Funk
Shareholders in BP have already taken a huge loss in the London and New York stock exchanges.

Yes, they have. That's an excellent point. The markets do punish bad actors - usually far more effectively than some grand standing politicians.
 

sangha

Senior Member
Joined
Jun 1, 2010
Messages
5,997
Reaction score
179
Points
48
Just who do you think BP hires to work in the gulf?
I see you're still worrying about the offshore drilling being driven offshore

PS - the answer is "Halliburton"

My comment had to do with the financial markets, which you apparently don't understand, btw.
SO offshore drilling is part of the financial markets? I sure don't understand that, but I'd just LOVE to hear you explain it. I could always use a chuckle

Oh my. Back to the beginning.
Yes, let's go back to the beginning, but this time I'm not going to let you lie about what you said. I notice you editied your remarks to delete the one that started this sub-discussion.

Great. Sarbox has already drive a great deal of financial market activity out of the U.S. Let's do even more to drive business off shore.

This thread is about preventing BP from paying dividends. Those are financial transactions. BP is a British plc.
Wrong. BP has american subsidiaries. Those are the ones whose divident payments will be blocked

They are perfectly free to move their financial activity out of the U.S.
Really? Does your "extensive" education in the financial markets include lessons on how to sell american stocks in a foriegn market, because that would be illegal?

Sarbox was kneejerk legislation enacted as a political response to Enron, which punishes companies who do not break the law. The net impact of this has been to reduce IPO activity and relocate financial activity to non-U.S. exchanges.
Well, if some stranger on the internet who worries that offshore drilling may be forced offshore says so, then it must be true!!:cuckoo:

If you think the U.S. losing its primacy as a financial center is good for the country, then recheck your premise.
I'd be more likely to believe in your ability to predict the future if you demonstrated an ability to predict the past.

Now, for the employee base of BP in the Gulf: a great deal of them are Americans who live in the gulf region. The fishing industry has been virtually wiped out due to the oil spill. Let's complete devastate the region by wiping out the oil industry as well. That'd be real good. Gulf sourced oil fuels about 10% of the economic activity in the U.S. If you're lucky, perhaps the loss of it will decimate your job.
I see we have another rightwinger who supports govt welfare.

If oil companies can't make money then they should go out of business. Using govt intervention in the economy to subsidize jobs is socialism. You're supposed to be opposed to socialism.
 
OP
B

blu

Senior Member
Joined
Sep 21, 2009
Messages
6,836
Reaction score
779
Points
48
I cant believe people are arguing that dividends are being pushed out to save BP $.... most of that money will hit people who have no other interest with BP and will simply pocket the money themselves, its not like BP will get it back it

also, dividends are timed, it snot like BP is rushing them out to save paying fines or w/e
 

sangha

Senior Member
Joined
Jun 1, 2010
Messages
5,997
Reaction score
179
Points
48
I cant believe people are arguing that dividends are being pushed out to save BP $.... most of that money will hit people who have no other interest with BP and will simply pocket the money themselves, its not like BP will get it back it

also, dividends are timed, it snot like BP is rushing them out to save paying fines or w/e
You don't have any idea how the stock markets work, do you?

WHen a company pays a dividend, it enhances its' value. Also, the mgmt of large companies often own a large # of shares in the company, so they do benefit personally.

Also, the people who receive the money DO have an interest in BP. They own shares in the company!!
 

New Topics

Most reactions - Past 7 days

Forum List

Top