Gulf Oil Slick

[Glenn]

Originally Posted by chefhottie25

I am a chef...and with the fishing industry on hold, it has been impossible to get any seafood from the gulf. I also saw on the news tonight that BP just spent 5 million dollars to make a commericial apologizing for the disaster. That money could have been spent on the rescue of wildlife, or the effort to stop the leak. I can't believe this happening.

Goldman Sachs somehow knew the fish would be gone. They sold 250 million of BP stock before the spill, which was 46 per cent of their holdings. RawStory.com

[MsDemeanor]

Originally Posted by popcorninthesofa

Goldman Sachs somehow knew the fish would be gone. They sold 250 million of BP stock before the spill, which was 46 per cent of their holdings. RawStory.com

This looks more like a case of the internet focusing on one number, sans context, and turning it viral. on 3/31/10, 5 institutions and one fund linkyloo each sold over 1M shares of BP. This was the day that Obama announced opening coastal waters to offshore drilling linkyloo , and the day after BP let $500M in contracts as part of it's new plan to drill in Iraqi oil fields linkyloo. Trading volumes were fairly normal that day, and the stock price was on an upswing.

Post hoc ergo propter hoc? Get all the facts, then decide.