Media ignores Goldman Sachs' ties to Corexit dispersant
www.picassodreams.com/picasso_dreams/2010/05/media-ignores-g...
sent by Sparrows since 12 hours 21 minutes, published about 53 minutes
Yes, BP is hedging its losses wiFollow the money...and the money goes to Goldman Sachs and friends. ~~~ Critics say Nalco, which formed a joint venture company with Exxon Chemical in 1994, boasts oil-industry insiders on its board of directors and among its executives, including an 11-year board member at BP and a top Exxon executive who spent 43 years with the oil giant. "It's a chemical that the oil industry makes to sell to itself, basically," said Richard Charter, a senior policy adviser for Defenders of Wildlife. In defense of the oil industry, it makes financial sense that Exxon and BP were the initial investors in this type of dispersant. It’s not surprising that oil executives sit on the board. I am not defending the toxicity of their product, the integrity of their board members or the likely Halliburton-stye billing process that will kick in when BP decides it is no longer responsible for the impact of the “very, very modest” oil blowout that is already twice as large as Exxon-Valdez and is far more devastating economically and let the bankrupt US Treasury cover the bills. (To be fair, BP has accepted full responsibility and within days of the accident and without a court order, BP gave the states of Louisiana, Florida, Alabama and Mississippi each $25 million to help with the immediate damage.) But BP’s investment in Nalco is the token diversion. The real players are Goldman Sachs and their fellow Sexually InadeIf for no other reason that Goldman Sachs is newsworthy, I think that their $4.3 billion purchase of Nalco in 2003 would be worth mentioning, especially in light of their short trade on TransOcean. The shorts are another missing item in the business section of The Times, as is any information on Goldman’s role in the 9-11 put options on American and United for that matter. “All the lies that are fit to print...” on their banner would be more apropos. Seems someone is treating the demon children at GS with kid gloves.quate Masters of the Universe, the Blackstone Group and Apollo Management. ~~~ th the profit it will make with its investment in Nalco, but who else benefits? |
