Goldman Sachs unloads BP stock before Gulf disaster

Suck it fishies and birdies…..

Well it’s now official. There was a story circulating the internet that turned out to be satire or was it? Huffington Post ran the story back on 4/30/10 and some sites picked it up not realizing that is was posted under satire. Now however the evidence reveals that Goldman sold 4.68 million shares of BP stock right before the Gulf of Mexico disaster. So where is the satire now? What did Goldman know and when did they know it? Did they run the satire story just to try and cover their ass?

Seeing how there are 25 Goldman Sachs employees currently working in the White House (26 if you include Obama), what are the chances that they and Obama knew nothing of this? Maybe Eric Holder should investigate Obama’s connection to both BP and Goldman Sachs.

Damned By Oil Timing?
Maybe Goldman was just lucky, but is it luck to sell 4.68 million shares of BP stock right before the Gulf of Mexico disaster? See this BP ADR (American depository receipts) report for the period ending 3/31/2010 for piece of the puzzle to ponder.

“It was just an accident, George, stop seeing conspiracies about!”

Uh…sure…er…whatever. But it’s interesting to look at some recent ownership history (pre disaster) and see who won and who got stuck.
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Takes a while for these things to sink in (since most money managers are far less clever than they imagine) but when it does, stories like “BP at Ricks and Share Plunge Fuels Takeover Speculation”.

Say, you don’t think Goldman would buy BP and do a net asset value break-up do you?

Book value of BP is $33.25 (don’t know how much of that is good will, but you’d have to back that out…) But with the price at around $36 and dropping from the low 60’s kinda range, seems that a break-up exercise might actually be something Goldman could handle…not that they’d be that audacious…or would they?

Once the stock gets to $25 – if it drops that far….

Then we have to consider that headline “BP Oil leak may last until Christmas in Worst Case Scenario”. No mention of which year, though, but two would fill the linguistic expectations and then some…

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