'Not for public': the oil spill may be getting much worse

Moderators: Elvis, DrVolin, Jeff

Re: 'Not for public': the oil spill may be getting much worse

Postby smiths » Tue Jun 01, 2010 11:01 pm

A Series Of Lucky Coincidences Involving Goldman Sachs And BP plc
Earlier, when observing the US AG disclosure of a civil and criminal investigation into BP plc, we noted in passing that BP's former Chairman, Peter Sutherland, who left the firm is a Chairman of Goldman Sachs International. Mr. Sutherland holds some other interesting titles, including a position on the Trilateral Commission, he was a chairman of the London School of Economics in 2008, he is a UN special representative for migration and development; he was the founding director-general of the World Trade Organisation, he had previously served as director general of GATT since July 1993 and was instrumental in concluding the Uruguay GATT Round Negotiations. Needless to say, we focused on the Goldman relationship. When digging deeper, we uncovered some amusing correlations, most notably between the BP plc sellside ratings by Goldman BP analyst Michelle della Vigna and the Goldman Sachs Asset Management holdings of BP plc.

there is an "odd" correlation between Goldman's sellside sentiment on the stock, and the amount of stock held by Goldman's asset management arm, especially evident in the days between December 31, 2009 and March 31, 2010, when despite a recent Buy rating attached to the firm, GSAM sold off more than 40% of its stake in the name. On December 31, Goldman held 71 million BP shares, and three months later this number went down 42.5 million. Another oddity is that back in 2008, when GS had the stock at Neutral, GSAM doubled its stake in the firm from 28.8 million shares to 57.3 million days before Ms. della Vigna raised the stock to a Buy, albeit if only for just over a month. Oddly enough, in the half year period when Goldman was telling its clients to Sell the stock, between 3/31/2009 and 10/28/2009, GSAM holdings declined by a whopping -3.9%.

Yet while the fact that GSAM did not follow the recommendations of its very own analyst is not peculiar. We have long pointed out that Goldman does precisely the opposite of what it advises its "clients" to do. What is slightly more troubling is the combination of Mr. Sutherland's departure from BP effective January 1, the release of his fiduciary obligations to BP shareholders, the upgrade of BP by Goldman from Neutral to Buy 4 days before Sutherland's full, and non-conflicted return to the GSI Chairmanship, and last but not least, the dumping of 28 million BP shares by GSAM in the next three months, an act which has saved the asset manager roughly GBP50 million.

We are confident that all of the above is purely coincidental.


http://www.zerohedge.com/article/series ... chs-bp-plc



Peter Denis Sutherland, Honorary KCMG (born 25 April 1946) is an international businessman and former Attorney General of Ireland
He was the youngest ever European Commissioner and served in the first Delors Commission, where he played a crucial role in opening up competition across Europe, particularly the airline, telecoms, and energy sectors.

Director General of the General Agreement on Tariffs and Trade (now the World Trade Organisation).

Later Mickey Kantor, the US Trade Minister, credited him with being the father of globalization and said that without him there would have been no WTO.

He is non-executive Chairman of Goldman Sachs International
He was previously non-executive chairman of BP and was a director of the Royal Bank of Scotland Group until he was asked to leave the board when it had to be taken over by the UK government to avoid bankruptcy.

He is on the steering committee of the Bilderberg Group[citation needed], a chairman of the Trilateral Commission[1] and vice chairman of the European Round Table of Industrialists.

On 5 December 2006, he was appointed as Consultor of the Extraordinary Section of the Administration of the Patrimony of the Apostolic See (a financial adviser to the Vatican).

The next stage of his career Surtherland disclosed that he has decided to join three boards – at German insurer Allianz; Koc Holdings, Turkey’s largest conglomerate; and a Chinese shipping company.[


http://en.wikipedia.org/wiki/Peter_Sutherland
the question is why, who, why, what, why, when, why and why again?
User avatar
smiths
 
Posts: 2205
Joined: Wed May 18, 2005 4:18 am
Location: perth, western australia
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby justdrew » Wed Jun 02, 2010 12:00 am

smiths wrote:A Series Of Lucky Coincidences Involving Goldman Sachs And BP plc
We have long pointed out that Goldman does precisely the opposite of what it advises its "clients" to do.



American investors: Predictably stupid losers
By 1964 there were 1.5 million mobile phone users in the US
User avatar
justdrew
 
Posts: 11966
Joined: Tue May 24, 2005 7:57 pm
Location: unknown
Blog: View Blog (11)

Re: 'Not for public': the oil spill may be getting much worse

Postby Nordic » Wed Jun 02, 2010 12:47 am



Wow. Great article. Passing that one along.
"He who wounds the ecosphere literally wounds God" -- Philip K. Dick
Nordic
 
Posts: 14230
Joined: Fri Nov 10, 2006 3:36 am
Location: California USA
Blog: View Blog (6)

Re: 'Not for public': the oil spill may be getting much worse

Postby justdrew » Wed Jun 02, 2010 1:47 am

the live feed shows some activity atm, kinda interesting...
By 1964 there were 1.5 million mobile phone users in the US
User avatar
justdrew
 
Posts: 11966
Joined: Tue May 24, 2005 7:57 pm
Location: unknown
Blog: View Blog (11)

Re: 'Not for public': the oil spill may be getting much worse

Postby smiths » Wed Jun 02, 2010 2:08 am

the question is why, who, why, what, why, when, why and why again?
User avatar
smiths
 
Posts: 2205
Joined: Wed May 18, 2005 4:18 am
Location: perth, western australia
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby Gouda » Wed Jun 02, 2010 3:54 am

BP hires Cheney spokeswoman to lead PR effort

As if the water wasn't deep -- or oily -- enough around British Petroleum's public relations, the company has hired a former spokeswoman for Vice President Dick Cheney to be its public face for the disaster.

Anne Womack Kolton, former head of public affairs at the Department of Energy and Cheney's onetime campaign press secretary, will take the baton from BP this week.

While at Cheney's side, Kolton defended the secrecy of the Vice President's Energy task force, a group which held secretive meetings with energy company executives. When the General Accounting Office -- the research arm of Congress -- sued the Administraton for records relating to Cheney's meetings, Kolton (then Womack) was at his side.

(...)

http://rawstory.com/rs/2010/0601/bp-hir ... pr-effort/
User avatar
Gouda
 
Posts: 3009
Joined: Tue Sep 13, 2005 1:53 am
Location: a circular mould
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby Jeff » Wed Jun 02, 2010 8:31 am

This timeline creep reminds me of promises of Iraq troop withdrawl:

BP Oil Leak May Last Until Christmas in Worst Case Scenario

...

So much crude pouring into the ocean may alter the chemistry of the sea, with unforeseeable results, said Mak Saito, an Associate Scientist at Woods Hole Oceanographic Institution in Massachusetts.

...

The ultimate worst-case scenario is that the well is never successfully plugged, said Fred Aminzadeh, a research professor at the University of Southern California’s Center for Integrated Smart Oil Fields who previously worked for Unocal Corp. That would leave the well to flow for probably more than a decade, he said in a telephone interview.


http://preview.bloomberg.com/news/2010- ... nario.html
User avatar
Jeff
Site Admin
 
Posts: 11134
Joined: Fri Oct 20, 2000 8:01 pm
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby Col. Quisp » Wed Jun 02, 2010 3:33 pm

Peachtree Pam wrote:Don't go away, Colonel Quisp! We are all in this together and can support each other with comments and analyses.

I value your comments, you contribute so much and hope that you change your mind. Things will get better.

Peachtree

Hey Peachtree Pam!
Long time no see!
I am still here - having some computer / internet issues lately. Didn't mean to bum anyone out. Just had a little bit of anxiety about all the apocalyptic shit happening fast and furious here lately. Very worried about the latest turn of events, but will stick around here as long as possible. Thanks everyone, for your concern and comments!
User avatar
Col. Quisp
 
Posts: 1076
Joined: Tue Nov 14, 2006 10:43 am
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby ninakat » Wed Jun 02, 2010 5:02 pm

Welcome back Quispy. Glad you'll be sticking around. I completely understood your posting though -- and can relate -- it really gets quite overwhelming. Communing with nature helps a lot. So spending less time here and out in the natural world is a great prescription for dealing with the madness.
User avatar
ninakat
 
Posts: 2904
Joined: Tue Nov 07, 2006 1:38 pm
Location: "Nothing he's got he really needs."
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby 2012 Countdown » Wed Jun 02, 2010 7:26 pm

Well, finally...

White House approves plans to build sand berms
by Paul Murphy / Eyewitness News
wwltv.com
Posted on June 2, 2010 at 5:32 PM
Updated today at 5:32 PM

"I want to thank the White House. Certainly, it's a step forward," Jindal said. "We would have preferred it came through weeks ago, we would have preferred they approved the whole plan. But today is a step forward.
"Now I'm calling on BP, and I'm calling on the federal government: Help us to make sure BP is a responsible party. Thank you for approving our entire six segments, but now I'm calling on you, don't let it be an approval on paper alone.".


3 minute video report w/article-
http://www.wwltv.com/news/gulf-oil-spil ... 52819.html

========

Okay, this is what I CANNOT understand. These fucking sand bars are going to get built. They would have been started 3 WEEKS ago. Everyone down here including the local enviro groups want this. Obama finally signs off on a partial approval. I don't know who is running the PR show up there, but this is fucked up.
George Carlin ~ "Its called 'The American Dream', because you have to be asleep to believe it."
http://www.youtube.com/watch?v=acLW1vFO-2Q
User avatar
2012 Countdown
 
Posts: 2293
Joined: Wed Jan 30, 2008 1:27 am
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby Username » Wed Jun 02, 2010 7:39 pm

~

2012 Countdown wrote: Everyone down here including the local enviro groups want this.


Maybe not everyone . . .

Mud in Louisiana’s Eye: Jindal and Nungesser Mix a Toxic Recipe for the Wetlands

Firedoglake
By: kirk murphy
May 27, 2010

Today the Coast Guard took a break from following BP’s orders to chase the press away from BP’s crime scenes, long enough to approve wasting millions of dollars building toxic mud pies that will starve or further poison Gulf wetlands. Yep, the Coast Guard’s throwing a poisoned life preserver to two Republican Louisiana pols who’ve spent years scheming to build a wall of toxic mud pies intended to cut off Louisiana’s wetlands from the tides the wetlands require for survival .

Why do the Cajun Canutes say they have to do this? To preserve the wetlands, of course. They have to destroy the wetlands in order to save them.

continued

~
Username
 
Posts: 794
Joined: Tue Nov 07, 2006 5:27 am
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby 2012 Countdown » Wed Jun 02, 2010 7:47 pm

Username wrote:~

2012 Countdown wrote: Everyone down here including the local enviro groups want this.


Maybe not everyone . . .

Mud in Louisiana’s Eye: Jindal and Nungesser Mix a Toxic Recipe for the Wetlands

Firedoglake
By: kirk murphy
May 27, 2010

Today the Coast Guard took a break from following BP’s orders to chase the press away from BP’s crime scenes, long enough to approve wasting millions of dollars building toxic mud pies that will starve or further poison Gulf wetlands. Yep, the Coast Guard’s throwing a poisoned life preserver to two Republican Louisiana pols who’ve spent years scheming to build a wall of toxic mud pies intended to cut off Louisiana’s wetlands from the tides the wetlands require for survival .

Why do the Cajun Canutes say they have to do this? To preserve the wetlands, of course. They have to destroy the wetlands in order to save them.

continued

~


Thanks for the article. I have to be honest and say i don't know. What I do know though is that the local enviro groups know this isn't the best way to restore the wetlands, which is/was a long, ongoing project. This is an immediate fix to stave the oil onslaught. I am telling you, if this gets into the marsh, there will be no more marsh to save. Jindal and Nunguesser can be bashed, and I am not about to defend them or their records, but these sand bars seem to be our only option at this point.
George Carlin ~ "Its called 'The American Dream', because you have to be asleep to believe it."
http://www.youtube.com/watch?v=acLW1vFO-2Q
User avatar
2012 Countdown
 
Posts: 2293
Joined: Wed Jan 30, 2008 1:27 am
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby seemslikeadream » Wed Jun 02, 2010 7:57 pm

Image
Mazars and Deutsche Bank could have ended this nightmare before it started.
They could still get him out of office.
But instead, they want mass death.
Don’t forget that.
User avatar
seemslikeadream
 
Posts: 32090
Joined: Wed Apr 27, 2005 11:28 pm
Location: into the black
Blog: View Blog (83)

Re: 'Not for public': the oil spill may be getting much worse

Postby smiths » Wed Jun 02, 2010 9:16 pm

Few Americans know that BP owns the controlling stake in the trans-Alaska pipeline; but, unlike with the Deepwater Horizon, BP keeps its Limey name off the Big Pipe.
Greg Palast

Whilst Americans are hated the world over and many a sensible person who claims not to be racist will humorously declare that Americans are the exception, Americans themselves have discovered that there is a nation they can direct their hatred and enmity towards, the English.
As things get worse i can imagine the resurrection of centuries old gripes.
The English perhaps can turn on the modern Italians as being essentially the same as the Romans who invaded them two thousand years ago.
the question is why, who, why, what, why, when, why and why again?
User avatar
smiths
 
Posts: 2205
Joined: Wed May 18, 2005 4:18 am
Location: perth, western australia
Blog: View Blog (0)

Re: 'Not for public': the oil spill may be getting much worse

Postby 2012 Countdown » Thu Jun 03, 2010 11:24 am

I have been listening to Nunguesser all morning, and the previous article has it wrong on the criticism of the emergency sand berm plan. If he is to be believed, and he is very convincing, I trust him on this. He HAS taken the Dutch suggestions and altered the plan. He went through time timeline of this whole affair. As I said, faced with the need for immediate action, and being abandoned and no plan by the feds, this is OUR plan. By the way, the PTB are still fighting it behind the scenes.
Oil is coming in again at Grand Isle. STILL begging the coast guard to contain this. The Coast Guard is IMPOTENT or suspect.

In other news...Florida now...

CNN iReport: “Significant amounts of oil is floating ashore in the Florida Keys”
By oilflorida, on June 3rd, 2010
“Significant amounts of oil is floating ashore in the Florida Keys.”

“Canals of Duck Key located about half way down the Florida Keys.”

“Staining on boats, piers and docks.”

“There is a sheen on the water.”

“The smell of oil hangs in the air.”

“Dozens of clumps of oil stained grass floated by in the twenty minutes the canals were observed by this iReporter.”

“Coast Guard is currently setting up booms around Hawks Cay resort to protect the beaches.”

“Coast Guard personnel on Duck Key are not ready to blame this oil on the BP leak yet.”

Another report of oil today in the Florida Keys. Oil, not just tar balls.:

http://www.floridaoilspilllaw.com/oil-r ... orida-keys

Just as BP is opening its second claims office in the Keys.

http://www.floridaoilspilllaw.com/flori ... n-key-west
---
http://www.floridaoilspilllaw.com/cnn-i ... orida-keys
George Carlin ~ "Its called 'The American Dream', because you have to be asleep to believe it."
http://www.youtube.com/watch?v=acLW1vFO-2Q
User avatar
2012 Countdown
 
Posts: 2293
Joined: Wed Jan 30, 2008 1:27 am
Blog: View Blog (0)
PreviousNext

Return to General Discussion

Who is online

Users browsing this forum: No registered users and 159 guests