Congress members have funds invested in BP stock

[babsbunny]

Congress members have funds invested in BP stock

http://www.independent.co.uk/news/world/americas/congress-members-have-funds-invested-in-bp-stock-2003670.html

By David Usborne

Friday, 18 June 2010

When members of Congress
take the cane to BP they might want to slip some hefty padding down their own trousers. A glimpse at the assets of the assorted senators and representatives directly involved in the hearings about the oil spill uncovers something not irrelevant – many are big holders of BP stock.

Fred Upton, the top Republican on the Energy and Environment Subcommittee, has nearly $100,000 (£67,500) invested in BP. Put them altogether and those leading the Deepwater Horizon inquiries own $14.5m in oil and gas industry stock, of which at least $400,000, though probably much more, is accounted for by shares in the three main companies tied to the spill – BP, Transocean and Anadarko Petroleum.

[napi21]

1. You may or may not be surprised, but I bet YOU have $$ in BP too.

I was speaking to my broker on Monday. He handles my 401K money that is all invested in several mutual funds. I asked him if any of them invested in BP stock. Hesaid MOST LIKELY ALL OF THEM DO! It's considered a very good stock and pays nice dividends, so almost all pension funds & conservative funds for people who are looking to reduce their risk invet in BP. Like it or not, BP is still rated as one of the best funds on the NYSE.