I found this webpage indicating the CEO of BP, Tony Hayward, and Goldman Sachs sold a bunch of shares prior to the oil spill. I can’t believe the news is not talking about these sales. Here is link to web site:
http://www.uncoverage.net/2010/06/bp-ceo-sold-13-of-his-bp-stock-before-the-spill/
As if it not bad enough that you have to watch the news every night and see all the birds and animals and the gulf coast flooded with oil. Surely this has to be hoax. It does not appear to be a hoax.
According to Morningstar, Goldman Sachs Asset Management, L.P. sold 4,680,822 shares in the first quarter ending 3/31/10. The oil spill started on April 20, 2010.
http://investors.morningstar.com/ownership/shareholders-selling.html?t=BP®ion=USA&culture=en-US
According to following link Tony Hayward cashed in about a third of his holding in the company and paid off his mortgage one month before the Deepwater Horizon rig burst, causing an environmental disaster:
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7804922/BP-chief-Tony-Hayward-sold-shares-weeks-before-oil-spill.html
Something does not smell right here. If you or I sold our shares of BP prior to this accident, you can be the SEC would pay us a visit. It seems as though the government has different standard for large banks and CEOs.
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