British public opinion on BP spill a lesson for 401k

[Jaundice James]

When I write that what’s good for Wall Street is bad for America, most people can agree, even if they don’t share my reasoning exactly, because “Wall Street” is a vague sort of Rorschach test for people who need a scapegoat for the injustices in our current system – whatever they consider those to be. But when I write that our 401K system is fundamentally corrupt, it tends to make some people uncomfortable...

Many Britons are heavily invested in BP. Most of their pension plans depend on financial success of this British corporate giant. Consequently, the British people are now angry at Obama, and the rest of us for the bad press BP is getting. They blame Obama – in fact, all of America – for BP’s falling stock prices. In their minds, we’re being too hard on BP...

But would Americans behave any differently? When American retirement plans took a dive with the financial crash of 2008, did Americans blame the corporations involved and threaten to stop investing with such corrupt and irresponsible companies? No. They blamed the government and expected the President to fix it...
http://corporatecorruptionchronicle.com/2010/06/15/british-public-opinion-on-bp-spill-a-lesson-for-401k/

[CountAllVotes]

1. tough sh*t

n/t

:dem:

[B Whale]

2. No we're not. Dont' worry! The sentiments that you outline

the British people are now angry at Obama, and the rest of us for the bad press BP is getting. They blame Obama – in fact, all of America – for BP’s falling stock prices. In their minds, we’re being too hard on BP...

"The british people" "they" in "their' minds. Not sure how the article defines these,but there has been one outburst by an idiotic aristocratic mayor...that just about it.

Many people i assume don;t want BP, as a company, to collapse because it is an important part of the economy (by the way most shares are owned by americans) to both america and UK, but no-one is angry at obama

and "they blame...in fact all of america" is a completely bizarre and untrue thing to say...

.

[Denzil_DC]

4. Thank you

I'm sick to death of being told what we British think about the Gulf disaster, BP, President Obama, and the USA in general, and why we think that way.

[unlegendary]

8. Im sick of what people think

I'm really sick of hearing what the people think as if there is one giant fucking brain controlling every thought. I think for myself and could give jack shit about what the British people think or the American people because we can't even agree on what fucking hamburger tastes the best or even which hand to wipe our asses with much less what we all think about anything else.
Fuck the British people and the American people. I don't give a rats ass what they think...unless I get to do all the thinking for everyone.

[FormerDittoHead]

3. So you want to shit down our throats then charge us for it?

>When American retirement plans took a dive with the financial crash of 2008, did Americans blame the corporations involved and threaten to stop investing with such corrupt and irresponsible companies? No.

For someone from England I would expect them to have a great grasp of analogy and metaphor.

As memory serves, as my opinion of AIG and Goldman Sachs couldn't be much lower, at least they didn't recklessly manage their businesses to destroy a big part of our eco-system for decades.

A more proper analogy would be to ask why, in the face of how we were willing to reimburse billionaire foreign investors when they gambled and lost so much in AIG, why we suddenly turn a cold shoulder to BP....

Oh hell, I can't come up with a good analogy. This guy's argument stinks.

[B Whale]

6. no-one but BP shit down your throats and they are a

UK AND US company. Majority shareholders are american and changed their name to BP 10 yrs ago when they merged with an american company.

No-one in britain did this, its a PRIVATE COMPANY.

...and to follow your analogy when american banks fucked the world economy no-one blamed americans, they blamed greedy bankers. Keep your eyes fixed on the company, the oil industry and unrestrained capitalism. No-one gives a fuck about BP in britain....its a non-story

[dipsydoodle]

5. Well I'm here and I've heard no such comments or complaints

on the pension aspects. In fact I've only come across a few here who give a shit about problems in the Gulf and even those usually say words to the effect that if you reflect on the number of countries who've been truly fucked over by the USA and its corporations over the past 100 years ago that now maybe some over there know what it like albeit BP didn't do it by intent.

Any mention of pension problems applies equally to the USA anyway - the shares in the funds which hold them are almost equally displaced.

btw I wouldn't say we're angry at Obama and once again have heard no remarks to that effect.

[CountAllVotes]

10. I "give a shit about the Gulf"

my family is from New Orleans. My mother was born in Louisiana.

This whole thing makes me sick and BP makes me even sicker with all of the damned LIES! :mad:

:dem:

[provis99]

7. maybe they'll feel better if Chevron dumps a load of oil into the Thames.

[Sherman A1]

9. Don't be too surprised to learn that many US 401k's

mutual funds, pension plans, have some BP stock in them as well.

We are going to pay for this disaster one way or another.

It will be through tax dollars, BP raising prices, loss of value of retirement savings or some like means. The BP Execs and management that cut corners will not feel any pain.