Washington has a perfect opportunity right now to absolutely sodomize BP in front of a salivating nation who wants revenge for the criminal activity of BP.
You gave us "shock and awe" now give us this!!!
What have you done for us lately! We need bread at this circus damnit!
I originally got the idea from Jim Rickards Twitter post. He posted, "The #BP $20 billion escrow is seen by Wall St. as a cap but it's just a floor. Chicago gang in White House just getting started."
This is brilliant. Basically Washington can sit them down right now and hold them ransom. To their face; prisoners, even as they lead their public lives. BP will become an employee of the US. Cleaning the filth from our shores and sharing in a profit sharing program with the Gov and the citizens of the Gulf in an emergency Humanitarian Aid effort.
If BP does not comply,charges will be brought against the officers of the company and the members of the Board for knowingly committing criminal negligence. An act of terrorism charge could also be considered in order to speed the thought processes along of the officers. I'm sure their decision making "save my own ass" engine would speed past warp speed and they would happily kiss a new ring.
That's it. A new revenue resource for Congress. They should be pleased....
...does this mean I'll get a Congressional Medal of Honor? A bit much? Perhaps a pin?
"Throughout history, it has been the inaction of those who could have acted; the indifference of those who should have known better; the silence of the voice of justice when it mattered most; that has made it possible for evil to triumph"
Women Prefer Men Holding State Bonds, Japan Ad Says (Update1) Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Wes Goodman and Theresa Barraclough
June 9 (Bloomberg) -- Japanese women are seeking men who invest in government bonds, according to an advertisement being run by the Ministry of Finance.
“I want my future husband to be diligent about money,” a 27-year-old woman says in an ad being run in free magazines promoting a fixed-rate, three-year note that Japan started selling last week. “Playboys are no good.” She’s one of five women featured in the page, which says “Men who hold JGBs are popular with women!!”
The ministry commissioned the ads to appeal to citizens for money at a time when record government borrowing threatens to outstrip demand. Prime Minister Naoto Kan, who took office yesterday, said he doesn’t have an instant fix to rein in the world’s largest public debt.
The government’s plan to attract marrying-age men comes after a campaign aimed at retirees started last August. That push featured Junko Kubo, a former anchor on Japan’s public broadcaster NHK, in ads placed in the backs of taxi cabs. Kubo followed Koyuki, an actress and model who in 2003 appeared in “The Last Samurai” with Tom Cruise as well as posters for government bonds.
“It strikes of desperation,” Christian Carrillo, a senior interest-rate strategist in Tokyo at Societe Generale SA said about the ad campaign. “I doubt this will be a successful strategy to attract retail investors.”
Individuals can buy government debt at local banks for 10,000 yen ($109) according to the ads. The finance ministry in 2002 hired Koushiro Matsumoto, an actor in Kabuki theater, and model Norika Fujiwara in its bond campaigns.
Japan’s government debt amounted to a record 882.9 trillion yen as of March 31, according to the Ministry of Finance. A 600 billion yen sale of 30-year bonds yesterday attracted bids for 2.25 times the amount on offer, the least since April 2004.
Japan has the world’s largest bond market, followed by the U.S., based on a ranking of 35 nations by the Bank for International Settlements in Basel, Switzerland, using data through September 2009. Kan, the former finance minister, takes office facing a debt burden that has increased by almost 80 percent in a decade and it is equivalent to 180 percent of the nation’s annual economic output.
“I don’t think fiscal rehabilitation can be done overnight,” he told reporters last week.
Moody’s Investors Service rates Japan’s debt at Aa2, the third-highest investment grade, with a stable outlook. Standard & Poor’s cut the outlook on Japan’s AA grade in January, citing diminishing “flexibility” to cope with the nation’s swelling debt load.
Former Prime Minister Yukio Hatoyama’s decision to quit last week “has no credit implications, but that in itself is positive news, given reports that Japan’s ship of state is rudderless,” Thomas Byrne, senior vice president of Moody’s, wrote in a statement released June 7.
“The world is full of dirty shirts in terms of excessive debt,” Bill Gross, who runs the world’s biggest bond fund at Newport Beach, California-based Pacific Investment Management Co., said in an interview June 4.
Japanese households have started to cut their holdings of the nation’s debt. Their ownership of government securities declined to 35 trillion yen as of Dec. 31 from a record 36.7 trillion yen a year earlier, according to the Bank of Japan.
Masaaki Kaizuka, director of debt management at the Ministry of Finance, aims to change that.
The ministry started selling three-year bonds tailored for individuals on June 3, after conducting a market survey that showed pent-up demand for shorter-term securities, Kaizuka said.
“What we can do is try to attract an untouched group of people to find a different sort of investor,” Kaizuka said. Shorter bonds are seen as safer because they mature faster.
This campaign for JGBs was crafted by Dentsu Inc., Japan’s largest advertising company, which the ministry chose through an annual bidding process, Kaizuka said.
“Retail government bonds, which provide the peace of mind that women want, are now available in three-year maturities with a fixed rate,” the ad says.
The bonds are called “Kotei3,” meaning “Fixed3” because they mature in three years.
Japanese government securities maturing in 2013 yield 0.176 percent as of 3:26 p.m. in Tokyo, versus 1.20 percent for same- maturity debt in the U.S.
The yield turns to about 1.38 percent in Japan after accounting for falling prices in the economy. The so-called real yield in the U.S. is negative 1 percent.
Japan’s bonds handed investors a 1.32 percent gain this year, versus 3.96 percent for sovereign debt globally, according to Bank of America Merrill Lynch indexes.
To contact the reporter on this story: Wes Goodman in Singapore at firstname.lastname@example.org; Theresa Barraclough in Tokyo at email@example.com. Last Updated: June 9, 2010 02:36 EDT
“Of all races in an advanced stage of civilization, the American is the least accessible to long views… Always and everywhere in a hurry to get rich, he does not give a thought to remote consequences; he sees only present advantages… He does not remember, he does not feel, he lives in a materialist dream.”
My background post BS was recruiting engineers for the automotive industry and then I moved on to finance. I had started investing for the first time during the .com boom and did quite well in very short order, thank you. And just as fast got burned. Being in finance I HAD to learn the markets in order to communicate with my high profile clients. Way leads to way and losses outweighing gains led me to understand how rigged the markets are. That's what led me to silver. That's now my goal, to teach others what I have learned.
All information provided on this blog are the personal opinion of the author. I am not a financial advisor nor do I promote the use of them save a very select few. All individuals are responsible for thier own decisions and I encourage all individuals to make decisions based on their own due diligence pertinent to their needs and comfort level. Knowledge just may be your salvation.