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Goldman Sachs sold $250 million of BP stock before spill
06-04-2010, 12:52 AM, (This post was last modified: 06-04-2010, 03:18 AM by h3rm35.)
#1
Goldman Sachs sold $250 million of BP stock before spill
Let's not forget that the chairman of GS intl. is on the board of BP, so I think it's safe to refer to the combined actions of the two as BS, right?

Goldman Sachs sold $250 million of BP stock before spill

Firm's stock sale nearly twice as large as any other institution; Represented 44 percent of total BP investment

The brokerage firm that's faced the most scrutiny from regulators in the past year over the shorting of mortgage related securities seems to have had good timing when it came to something else: the stock of British oil giant BP.

According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman's sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP's stock during the quarter.

If Goldman had sold these shares today, their investment would have lost 36 percent its value, or $96 million. The share sales represented 44 percent of Goldman's holdings -- meaning that Goldman's remaining holdings have still lost tens of millions in value.

The sale and its size itself isn't unusual for a large asset management firm. Wall Street brokerages routinely buy and sell huge blocks of shares for themselves and their clients. In light of a recent SEC lawsuit arguing that Goldman kept information about a product they sold from their clients, however, the stock sale may raise fresh concern among Goldman's critics. Goldman is also a frequent target of liberals and journalists, including Rolling Stone's Matt Taibbi, who famously dubbed the firm a "vampire squid."

Two calls placed to Goldman Sachs' media office in New York Wednesday morning after US markets opened were not immediately returned, though Raw Story decided to publish the story quickly after the calls since the stock sale had been already noted online.
Others also sold stock

Other asset management firms also sold huge blocks of BP stock in the first quarter -- but their sales were a fraction of Goldman's. Wachovia, which is owned by Wells Fargo, sold 2,667,419 shares; UBS, the Swiss bank, sold 2,125,566 shares.

Wachovia and UBS also sold much larger percentages of their BP stock, at 98 percently and 97 percent respectively.

Wachova parent Wells Fargo, however, bought 2.3 million shares in the quarter, largely discounting Wachovia's sales.

Those reported buying BP's stock included Wellington Management, a large asset firm, and the Bill and Melinda Gates Foundation.

BP is struggling to cap a massive oil leak at one of its drill sites in the Gulf of Mexico. The firm's myriad safety violations over the years have come to light in lieu of the Gulf disaster.

BP traded on average at $56.86 in the first quarter, according to GuruFocus, a site that monitors the major trading moves of prominent investors. A list of major institutions' sales of BP stock are available at the market research website Morningstar.

It's certainly unknown as to why the firms sold their holdings. In its analysis of the company in mid-March, Morningstar, the market research site, gave the company an average rating of three out of a possible five stars.

"BP's valuation carries more uncertainty than ExxonMobil's or Shell's because the firm is less integrated, with more of its earnings coming from the [exploration and production] business than from potentially offsetting refining operations," the site's analyst wrote. "Like its peers, a sustained drop in oil and gas prices can hurt upstream earnings. Lower crude-oil feedstock costs could help refining margins, but refined product pricing lags could quickly swing refining profits to losses. BP's global business faces potential disruptions caused by political risks, particularly with its heavy exposure to Russia. Disruptions caused by environmental and operational constraints could further limit earnings potential."

The transnational oil company, like other energy giants, was hit with lower oil and gas prices in the past year after the price of oil surged in 2008.

"BP's fourth quarter marked another quarter of year-over-year production gains, with a 3% increase thanks to new field startups," Morningstar's analyst wrote in another note, after BP turned in better than expected fourth quarter results in February. "BP reported fourth-quarter replacement cost profit of $3.4 billion, up 33% from year-ago earnings of $2.6 billion, as upstream earnings growth was more than enough to offset downstream weakness. For the full year, BP's earnings of $14 billion were 45% below year-ago earnings of $26 billion, in part because of lower oil prices earlier in the year. We're encouraged by BP's sequential earnings gains as new projects and cost-cutting efforts drive upstream results."

The SEC filed a civil lawsuit against Goldman Sachs and one of its vice presidents in April, asserting that the firm had committed fraud by misrepresenting a mortgage-investment product inherently designed to fail. The company helped a hedge fund trader create a mortgage investment that gained value as mortgage borrowers defaulted en masse.

In response, Goldman said the SEC's charges were “completely unfounded in law and fact” and averred that it would “vigorously contest them and defend the firm and its reputation.”

The firm has also faced criticism over giant bonuses paid to staff amidst the US financial crisis. Goldman reduced the sizes of its staff bonuses this year to $16.9 billion, and said it would pay its chief executive $9 million, far less than the previous year.

Goldman also announced it would create a $500 million program to help small businesses. Critics noted that the figure represented just 3% of the bonus pool.
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06-04-2010, 02:57 AM, (This post was last modified: 06-04-2010, 03:11 AM by h3rm35.)
#2
RE: Goldman Sachs sold $250 million of BP stock before spill
oh yeah... they're also tied to Corexit, the toxic dispersant BP chose to use instead of more highly functioning, less toxic, and cost comparative alternatives.


http://seekingalpha.com/article/151480-the-abcs-of-oil-manipulation
This whole piece (The ABC's of Oil Manipulation) is worth reading in it's entirety, but I found this segment pertinent:
Quote:A Partnership made in Heaven?
There are probably few more influential people than Peter Sutherland. An Irishman with a high level legal and political background, he became a non-executive director of BP as early as 1990, and after a brief but successful period to 1995 as head of the World Trade Organization he has been on the BP board ever since, from 1997 as chairman. He has also chaired Goldman Sachs International (GS) since 1995.

Lord Browne of Madingley was a career BP man who ascended to the top in 1995 and eventually fell from grace in May 2007 shortly before he was due to retire. He was on the Board of Goldman Sachs from May 1999 until May 2007.

BP have always been natural traders. Unlike Exxon (XOM), who are vertically integrated and produce & refine oil and distribute products, BP sell the oil they produce on the market, and buy the oil they refine. In the years since 1995, BP has made phenomenal profits by trading oil and oil derivatives.

So have Goldman Sachs. You don’t rise to the top in Goldman Sachs unless you are responsible for making a great deal of money: and their energy trading operations have made immense amounts.

The key player in Goldman Sachs is the current CEO Lloyd Blankfein, who rose to the top through Goldman’s commodity trading arm J Aron, and indeed he started his career at J Aron before Goldman Sachs bought J Aron over 25 years ago. With his colleague Gary Cohn, Blankfein oversaw the key energy trading portfolio.

It appears clear that BP and Goldman Sachs have been working collaboratively – at least at a strategic level – for maybe 15 years now. Their trading strategy has evolved over time as the global market has developed and become ever more financialised. Moreover, they have been well placed to steer the development of the key global energy market trading platform, and the legal and regulatory framework within which it operates.
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06-04-2010, 03:58 AM,
#3
RE: Goldman Sachs sold $250 million of BP stock before spill
So... let's see. Tony Blair in JP Morgan. BP using Corexit. Now this. There's definately more that I'm forgetting about. I gotta start educating.

"Before the system fucks you say 'fuck the system'"
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06-04-2010, 04:24 AM,
#4
RE: Goldman Sachs sold $250 million of BP stock before spill
Peter Sutherland is definitely someone that deserves more looking into.
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06-04-2010, 08:05 AM,
#5
RE: Goldman Sachs sold $250 million of BP stock before spill
The ABC's of Oil Manipulation was a great piece*, it could have gone even further with the solution and attacked the structure of inflationary money created on debt at interest otherwise known as a fractional reserve based credit. He did touch on this aspect a bit though. The Brent connection was enlightening.

As for BP and Goldman Sachs, there is no regulation - not that regulation by this fascist world regime would actually do anything to their pals. Immoral transactions and collusion is how they got and stay where there are in the energy manipulation and financial manipulation markets. The cartel is not so much intelligent as much as being brazen, insulated by 'rouge' traders and well connected to energy firms, banks, traders and lawmakers.

I'd like to know what a normal trading for a quarter would be. It is also curious that BP did not report the biggest 1st quarter dumper Vanguard Windsor II Investor in so much prominence when it was right in front of their eyes as their cited source, but I suppose that is not so romantic since BP is a good headline and SEO grabber. If you recall RAW Story was a participant in the whitewash of CRU Climategate debacle. I can't trust their stories too much anymore and can't be bothered to sift through their master serving propaganda.

To give them a bit of credit they did report on it although in a passing manner and buried in the article, I almost missed it myself.

Quote:Those reported buying BP's stock included Wellington Management, a large asset firm, and the Bill and Melinda Gates Foundation.

Nice to see Bill making a few bucks off this too but that was thrown in there to distract the reader from Wellington who sold off 4 times as much stock as Sachs although as a percentage of their holdings Wellington dumped less than GS but consider that they own almost 10 times more shares.

All that said the so called 'elite' prefer to keep lower key and likely use smaller proxies, including the rouge traders and a large army of smaller investment firms and individual screen traders, lest it be to obvious. Vampire Squids, as Rolling Stone called them, hate sunlight.

* Article also available it its entirety here: http://concen.org/forum/showthread.php?tid=31284&pid=190897#pid190897 The whole thread is well worth the read.
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06-04-2010, 08:05 AM,
#6
RE: Goldman Sachs sold $250 million of BP stock before spill
rerun spam glitch
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06-04-2010, 08:07 AM,
#7
RE: Goldman Sachs sold $250 million of BP stock before spill
once again.
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06-04-2010, 09:05 AM, (This post was last modified: 06-04-2010, 09:18 AM by h3rm35.)
#8
RE: Goldman Sachs sold $250 million of BP stock before spill
I'm not a big fan of rawstory either, but this popped up on another page and got the mental gears running in the B/S direction because I remembered touching on it when the whole spill mess started, and everyone was trying to figure out who to blame.

(Don't worry, FT, I wouldn't stick a rawstory piece on one of your stickied threads...
Honestly, I didn't even correlate the ideas in this with that thread until after I read the "ABCs" piece.) I agree, the whole thread is well worth your time to digest.

I just thought, considering the people in shared leadership capacity, the ties between the two companies, (especially in the light of obvious complicity of the government of the US in their various crimes,) might deserve some exposure... some of that light that "vampire squids" hate... this pretty much SCREAMS insider trading with information shared between one of the most blatantly villainous companies on the planet that's seemingly bent on the destruction of society with one that has a hideous and catastrophic safety record that just kind of said "oops" when it decimated the Gulf of Mexico and the southeastern United States...
And who knows what else they've pulled off already or planned for the future during the last 15 years...

It's understood they're not the hitmen... they're the Dons, and 250mil is a drop in the gulf to them.
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06-08-2010, 09:16 PM,
#9
RE: Goldman Sachs sold $250 million of BP stock before spill
BP Chief Tony Hayward Sold Shares Weeks Before Oil Spill

By Jon Swaine and Robert Winnett

Global Research, June 7, 2010
Telegraph - 2010-06-05

The chief executive of BP sold £1.4 million of his shares in the fuel giant weeks before the Gulf of Mexico oil spill caused its value to collapse.

Tony Hayward cashed in about a third of his holding in the company one month before a well on the Deepwater Horizon rig burst, causing an environmental disaster.

Mr Hayward, whose pay package is £4 million a year, then paid off the mortgage on his family’s mansion in Kent, which is estimated to be valued at more than £1.2 million.

There is no suggestion that he acted improperly or had prior knowledge that the company was to face the biggest setback in its history.

His decision, however, means he avoided losing more than £423,000 when BP’s share price plunged after the oil spill began six weeks ago.

Since he disposed of 223,288 shares on March 17, the company’s share price has fallen by 30 per cent. About £40 billion has been wiped off its total value. The fall has caused pain not just for BP shareholders, but also for millions of company pension funds and small investors who have money held in tracker funds.

The spill, which has still not been stemmed, has caused a serious environmental crisis and is estimated to cost BP up to £40 billion to clean up.

There was growing confidence yesterday that a new cap placed over the well was stemming the oil flow. An estimated three million litres a day had been pouring into the sea off the coast of Louisiana since the April 20 explosion, damaging marine life.

The crisis has enraged US politicians, with President Obama yesterday forced to cancel a trip to Indonesia amid a row over the White House’s response.

Mr Hayward, whose position is thought to be under threat, risked further fury by continuing plans to pay out a dividend to investors next month.
Disclaimer: The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of the Centre for Research on Globalization. The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible or liable for any inaccurate or incorrect statements contained in this article.

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The CRG grants permission to cross-post original Global Research articles on community internet sites as long as the text & title are not modified. The source and the author's copyright must be displayed. For publication of Global Research articles in print or other forms including commercial internet sites, contact: crgeditor@yahoo.com

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© Copyright Jon Swaine, Telegraph, 2010

The url address of this article is: http://www.globalresearch.ca/PrintArticle.php?articleId=19592
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06-19-2010, 11:07 PM, (This post was last modified: 06-19-2010, 11:12 PM by h3rm35.)
#10
RE: Goldman Sachs sold $250 million of BP stock before spill
this comes from CSIWEMBLEY over on the h33t forum - he lurks around here, so I tip my hat...Icon_wink
http://fr33sp33k.h33t.com/index.php?topic=18091.0;topicseen
More information on the "spill"
« on: Yesterday at 08:49:17 PM »

Please pass this on to everyone you possibly can, this is important, please help make change now!

The scumbags who have planned all of this evil have been planning for more years than you want to know, please tell everyone, do not mean to instill fear, maybe just a little anger, our future, our children are at risk..

If anyone has been paying attention, our government has been taken over by corporate facism. I worked for these people; they do not care about you, your children, mother earth. They tried it before, but General Smedley Butler went before Congress and exposed them; most of Congress has been corrupted and blackmailed; it is up to you and I to spread the truth and make a difference. When was the last time you saw Congress pass a bill that was for the people and not for the poisoning, murdering, destruction of our country and all that the constitution stands for? You did know that grandaddy Bush, Senator Prescott Bush made the family fortune from Nazi Germany and laundered the money on Wall Street? Skull and Bones, the American arm of the Illuminati.

More Dirty Details From My BP Mole

http://motherjones.com/rights-stuff/2010/06/BP-cleanup-mole-more

Fed up! Louisiana Gov. Bobby Jindal orders Guard to build barrier

http://www.examiner.com/x-37620-Conservative-Examiner~y2010m6d14-Fed-up-Louisiana-Gov-
Bobby-Jindal-orders-Guard-to-build-barrier?cid=examiner-email

Cerberus: Guarding the Gates of Hell - Dynecorp, Pegasus, BP, Goldman Sachs - Gulf Oil Disaster Planned?

http://www.redicecreations.com/article.php?id=11194


http://www.commutefaster.com/Energy2.html#Announcements

http://thelibertyforum.wordpress.com/


http://atomicnewsreview.org/2010/06/02/bombshell-the-real-reason-the-oil-still-flows-into-the-gulf-of-mexico/

The ties that bind. Remember Rahm Emanuel's rent-free D.C. apartment? The owner: A BP adviser

http://americapsycho.wordpress.com/2010/05/28/bps-apocalypse-aided-by-goldman-sachs-of-course/

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7804922/BP-chief-Tony-Hayward-sold-shares-weeks-before-oil-spill.html

The last episode on this radio show was aired on 6-13-2010. James Fox is down on the coast, I would have expected more recent updates:

http://www.veritasshow.com/veritasplayer.html

Congressman to BP: I apologize

http://www.repoweramerica.org/

Freedom destroyed
Who's next?

http://www.brasschecktv.com/page/864.html

THEY CAME FIRST for the Communists,
and I didn't speak up because I wasn't a Communist.

THEN THEY CAME for the trade unionists,
and I didn't speak up because I wasn't a trade unionist.

THEN THEY CAME for the Jews,
and I didn't speak up because I wasn't a Jew.

THEN THEY CAME for me
and by that time no one was left to speak up."

http://www.youtube.com/user/badattitude77769
http://www.youtube.com/user/CSIWEMBLEY
http://community.webshots.com/user/Ratical7777
http://www.zerotolerenceforwar.org/
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06-27-2010, 02:02 PM,
#11
RE: Goldman Sachs sold $250 million of BP stock before spill
-------- FastTadpole wrote: --------
Quote:Has this been confirmed, FastTadpole ?

Yeah I noticed this when everyone was barking at what Goldman Sachs was doing in dumping stock pre-emptive to the April 20, 2010 explosion / spill the investment firm ended up dumping almost 4 times as much stock, their holding are 10 times greater though. It's a monster investment bank.
http://concen.org/forum/showthread.php?tid=33249&pid=190910#pid190910


Yes this is confirmed

Ownership
http://pfds.opensecrets.org/N00009638_2009.pdf

Article
http://www.twawki.com/?p=6768

Here's his top investments in the vanguard fund
1 Apple Inc.
2 Procter & Gamble Co.
3 JPMorgan Chase & Co.
4 Bank of America Corp.
5 Wells Fargo & Co.
6 Cisco Systems Inc.
7 Intel Corp.
8 Google Inc. Class A
9 Oracle Corp.
10 McDonald's Corp.

https://personal.vanguard.com/us/FundsAllHoldings?FundId=0213&FundIntExt=INT&tableName=Equity&tableIndex=0&sort=marketValue&sortOrder=desc

.. and in the other vanguard fund

1 Exxon Mobil Corp.
2 Apple Inc.
3 Microsoft Corp.
4 Procter & Gamble Co.
5 General Electric Co.
6 International Business Machines Corp.
7 Johnson & Johnson
8 Bank of America Corp.
9 JPMorgan Chase & Co.
10 Wells Fargo & Co.

Further down the list we see all sorts of great companies some of which he had an obvious direct hand in supporting through his role. Interesting portfolio.

https://personal.vanguard.com/us/FundsAllHoldings?FundId=0040&FundIntExt=INT&tableName=Equity&tableIndex=0&sort=marketValue&sortOrder=desc
----------------------------------------
-- from realitycheck
----------------------------------------
>> Those reported buying BP's stock included Wellington Management, a large asset firm, and the Bill and Melinda Gates Foundation.

> Nice to see Bill making a few bucks off this too but that was thrown in there to distract the reader from Wellington who sold off 4 times as much stock as Sachs although as a percentage of their holdings Wellington dumped less than GS but consider that they own almost 10 times more shares.

Did Wellington buy or sell ?

Then regarding Obama's portfolio:
He has less then 300'000$ in all Vanguard funds together ?

----------------------------------------

"Did Wellington buy or sell?"
That was a sell as indicated by this URL:
http://investors.morningstar.com/ownership/shareholders-selling.html?t=BP&region=USA&culture=en-US

but it looks like Goldman Sachs dumped the most on second glance if you click the institutions tab. It's notable that Geneva Inv Mgmt Of Chicago LLC, SAC Capital Advisors, OppenheimerFunds and Wachovia Bank National Association dumped almost all their BP stock before the crisis was announced to the public. It should also be noted that subsidiaries and different arms would be a good way to cloak what looks to be insider trading. The SEC has done nothing to date. Same with the fractional reserve gold trading. The government seems complicit and perhaps participatory especially since a congressman cannot be investigated (hence is allowed) to participate in insider trading without any publiv or legal recourse since that bill was signed / modified recently allowing that very action.

Shareholders Selling BP Stock

Top 5 Dumping Institutions
Goldman Sachs Asset Management, L.P. -4,680,822
Wachovia Bank National Association -2,667,419
Sanders Capital, LLC -1,371,785
Pnc Bank, National Association -1,177,413

The funds tab encompass many different investment portfolios and the percentage dumped may be much higher or lower for a specific fund and only indicate the median. I poked around but found nothing specific to the dumping of BP stock specific Obama portfolio of funds although the Vanguard was the biggest dumper of funds by volume by a long shot.

Top 5 BP Stock Dumping Funds
Vanguard Windsor II Investor -1,371,785
Goldman Sachs Structured Intl Equity A -399,339
ING International Value A -194,100
Hartford Equity Income A -165,900
Oppenheimer Capital Income A -142,000

As far as Obama's portfolio he stands to make 85 Million over 10 years. I fail to see the math to prove these claims as reported by the cited document http://pfds.opensecrets.org/N00009638_2009.pdf It's not that I outright reject them - it just doesn't add up to 85 Million over 10 years since his investments in the Vanguard funds You should bear mind that this is a guy that won't produce a birth certificate and Barry Sortero uses his Muslim name, flubbed his oath of office - then supposedly took it in private, is on pace to pass a record number of executive (dictatorial vetoes) orders, had a large hand in giving trillions to private banks via congress and lied on a number of promises (too many to list here) to get elected President of the United States.

Unfortunately this is a puppet man who holds a lot of the power over not only the US but over Canadians (as I am) and in influncing the rest of the world policy. This is since a legal entity know as CANADA that pretends to be a country that owns me and my children and has saddled me, my kin and clan with slavery at the hands of usury debt at birth from which I receive little or no benefit and murders and steals in my name in collusion with corporations big and small. Canada tends to follow lock step with US policy where it really matters. Example Harper (I paraphrase) on the carbon tax - We will do whatever the US decides as our biggest trading partner and ally.
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06-27-2010, 11:35 PM,
#12
RE: Goldman Sachs sold $250 million of BP stock before spill
nice work FT... I've been digging into that stuff also, but, to date, just had a collection of articles and links that were presenting a broad picture. I hadn't whittled it down to the point where I could put it this concisely. Thanks for the perspective.

Quote:The SEC has done nothing to date. Same with the fractional reserve gold trading. The government seems complicit and perhaps participatory especially since a congressman cannot be investigated (hence is allowed) to participate in insider trading without any publiv or legal recourse since that bill was signed / modified recently allowing that very action.

market manipulations in precious metals are old hat, as controlling their prices directly relate to the dollar's value. The ones raping and pillaging European economies own the US gvt, so they have to have control over the value the world's reserve currency, as well as the most attractive couch against its value fluctuations in order to have the total stranglehold they need in order to continue their plans toward a world-wide electronic currency. They may have at one point cared about the Euro, but since Barry's election and the banking cabal took over the executive branch, they figured it would be easier to stick with the status quo (USD). They have owned at least two thirds of both houses of congress for over two decades, so all it took was placing the puppet whose been sodomized by their velvet-wrapped fist for his entire adult life in power.

(@ FT - I know I didn't have to tell you this stuff, I'm not assuming you were uninformed of this, just venting here.)
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06-28-2010, 12:17 AM,
#13
RE: Goldman Sachs sold $250 million of BP stock before spill
Vangaurd controls 13 Trillion dollars worth of assets making them the 3rd or 4th biggest fund holder in the world behind JP Morgan Chase, Goldman Sachs. I've never heard of them mentioned in the media or alt media even once. Anyone else? I may have missed it.
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06-28-2010, 01:54 AM, (This post was last modified: 06-28-2010, 02:04 AM by h3rm35.)
#14
RE: Goldman Sachs sold $250 million of BP stock before spill
Windsor II is a high-end fund that typically buys mid to high level capital stocks that they consider as undervalued, typically yielding higher than average dividends. Investors in this fund did pretty well in comparison to a lot of others starting around 2007 because of the dividends. Lots of clients bought in in order to insure that income from dividends as a hedge to falling stock prices.

It's strange though - in one weekend day their major holdings seem to have shifted dramatically:

http://money.cnn.com/quote/mutualfund/mutualfund.html?symb=VWNFX
Quote:Top 10 Holdings
Portfolio weighting
IBM International Business Machines Corp 3.08%
WFC Wells Fargo Company 3.00%
JPM J.P. Morgan Chase & Co. 2.89%
HPQ Hewlett-Packard Company 2.85%
PFE Pfizer Inc. 2.84%
-- CMT Market Liquidity Rate 2.66%
MSFT Microsoft Corporation 2.65%
COP ConocoPhillips 2.58%
RTN Raytheon Company 2.49%
BMY Bristol-Myers Squibb Company 2.43%

I guess it's possible that they just do a massive amount of high-volume trading on a split-second basis, and this kind of shift is normal. That could have something to do with the neutered financial bill being agreed upon in congress. It does seem to be on an overall downward trend since May, and are down for the year as well.

To answer your question, no I hadn't heard much about them, but then again, I really hadn't heard much negative press about JP Morgan Chase until they got smacked with the precious metals manipulation accusations.
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07-05-2010, 04:07 AM,
#15
RE: Goldman Sachs sold $250 million of BP stock before spill
On the $85M Profit that Obama was set to profit on his portfolio.

I got a response from the author:

Quote:This is my site, but the article wasn't written by me - it's from a dubious source known as "Sorcha Faal" who seems to be a disinfo agent. I posted it because I thought it was interesting, but I don't trust the source at all.

I wrote an article back in the 26th of May with a heap of info about the dodgyness surrounding the Deepwater Horizon oil well.
http://adamdodson.org/2010/05/news-for-26th-may-deepwater-horizon/

The next post after has a "Deepwater Horizon Disaster & Related Issues" section that shows what I've learned since that post - http://adamdodson.org/2010/06/news-for-june-14th/

I don't use digg much anymore, facebook has become my news network now - connect with me there if ya want Smile
http://facebook.com/adamdodson.org
http://facebook.com/fans.adamdodson.org
http://facebook.com/stream.adamdodson.org

This disinfo was probably food for the Republican supporters to polarize Americans.

That said Vanguard Windsor II Funds made a pile, we should watch their portfolios, esp. the ones Obama is personally vested in he seems to be doing quite well. Funny he isn't vested with Goldman Sachs? Well that would be an all too obvious conflict of interest. Obama did turn a nice profit though just not $85M (article notes that is over a 10 year period), maybe $20K - $100K tops. These particular Vanguard funds pay out a lot of dividends, can't ignore that.

Whatever the case Obama is a puppet and he's largely irrelevant and easily interchangeable with another talking head in the grand scheme of power.

Man this is a waste of time researching politics. Most access to money is probably cloaked anyways and then there are the perks.

.. but my curse of being thorough led me to a potential 33% return on his holdings from the time they were bought if he sold them at the right time.

   
https://personal.vanguard.com/us/funds/snapshot?FundId=0040&FundIntExt=INT#hist=tab%3A1

   
https://personal.vanguard.com/us/funds/snapshot?FundId=0213&FundIntExt=INT#hist=tab%3A1
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