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View Full Version : [DAILY PAUL] Goldman Sachs sold 44% of its BP Stock, 3 weeks before Oil Rig disaster




Sentient Void
06-09-2010, 12:38 AM
From the Daily Paul - http://www.dailypaul.com/node/136466

Verrry interesting. Haven't dug deep into this yet, but plan to - figured I'd share it with you guys since I haven't seen it on the forums.

Coincidence or conspiracy? Thoughts?

BenIsForRon
06-09-2010, 12:58 AM
I don't see any potential motive, but it is suspicious.

RileyE104
06-09-2010, 01:09 AM
I don't see any potential motive, but it is suspicious.

Well, if it IS a conspiracy then they obviously knew what was going to happen to BP and the Gulf...

Sentient Void
06-09-2010, 02:36 AM
Motive being that 'Government Sachs' has (always has) a lot of special interests with the government and it's expansion of power at the expense of it's competitors and many other sectors of the economy. GS has had NUMEROUS previous employees in extremely high rankings of government over the years. If this *was* some sort of false flag, and was planned/predicted, they knew such a crisis would hurt the value of BP significantly - and with such information made a good business decision in selling a huge portion of stock.

Could it be mere coincidence? Sure. In order to find one we'd need to dig deeper and see what the evidence shows. Did they *also* sell stock in many other oil companies they owned as an overall selloff of the oil market, for example - or JUST BP? I'm sure there are other questions / data we could think up / look at.

Romulus
06-09-2010, 06:32 AM
Wachovia and USB sold 98%.

Sentient Void
06-09-2010, 12:18 PM
Wachovia and USB sold 98%.

When?

ChaosControl
06-09-2010, 12:46 PM
I don't think anything Government Sachs does is coincidence anymore.

dannno
06-09-2010, 12:50 PM
I don't see any potential motive, but it is suspicious.

Motive for what??

You sell a stock before it goes down.

How do you know it's going to go down? Somebody clues you in. Do they tell you why? Maybe. Maybe not.

Motive for blowing up the oil rig? Well it did happen within a week or two of Obama announcing plans to do oil exploration off the coast. The elite have been trying to keep us dependent on foreign oil for decades so we can justify controlling the region.

Vessol
06-09-2010, 12:51 PM
The chief executive of BP sold £1.4 million of his shares in the fuel giant weeks before the Gulf of Mexico oil spill caused its value to collapse.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7804922/BP-chief-Tony-Hayward-sold-shares-weeks-before-oil-spill.html

I know it's infowars, but it's packed with a ton of suspicious stuff.
http://www.infowars.com/evidence-points-to-bp-oil-spill-false-flag/

That's a WHOLE LOT of fucking coincidences.

Razmear
06-09-2010, 02:36 PM
I found this same story a few weeks back about the share sell off.
Days later in my browsing I saw that some drilling bill passed 3 weeks before the oil spill.
I would assume the stock sale was a result of the regulations changing and not a premonition of the upcoming oil leak.

eb

Pizzo
06-09-2010, 05:20 PM
Before I think this is suspect, I'd like to also know what was the P/E at the time in comparison to the rest of the sector, and in comparison to historical levels; what was their average entry point, and what was their profit/loss on the position; did they sell the stock, but also put lower bids in before the leak started; did they at the same time buy a different stock in the same industry that was more attractive in price/and or yield, etc, etc, etc. There are all sorts of reasons to sell stock, not all of them are nefarious. Same with shorting stock. I was short before the housing market took a shit many stocks, doesn't mean i had prior knowledge, it was just experience and common sense.

QueenB4Liberty
06-09-2010, 05:26 PM
This is horrible, it's like an environmental 9/11.

bobbyw24
06-09-2010, 05:51 PM
Firm's stock sale nearly twice as large as any other institution; Represented 44 percent of total BP investment

The brokerage firm that's faced the most scrutiny from regulators in the past year over the shorting of mortgage related securities seems to have had good timing when it came to something else: the stock of British oil giant BP.

According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman's sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP's stock during the quarter.

If Goldman had sold these shares today, their investment would have lost 36 percent its value, or $96 million. The share sales represented 44 percent of Goldman's holdings -- meaning that Goldman's remaining holdings have still lost tens of millions in value.

The sale and its size itself isn't unusual for a large asset management firm. Wall Street brokerages routinely buy and sell huge blocks of shares for themselves and their clients. In light of a recent SEC lawsuit arguing that Goldman kept information about a product they sold from their clients, however, the stock sale may raise fresh concern among Goldman's critics. Goldman is also a frequent target of liberals and journalists, including Rolling Stone's Matt Taibbi, who famously dubbed the firm a "vampire squid."

Story continues below...

http://rawstory.com/rs/2010/0602/month-oil-spill-goldman-sachs-sold-250-million-bp-stock/

Roxi
06-09-2010, 06:00 PM
I found this same story a few weeks back about the share sell off.
Days later in my browsing I saw that some drilling bill passed 3 weeks before the oil spill.
I would assume the stock sale was a result of the regulations changing and not a premonition of the upcoming oil leak.

eb

this

TinCanToNA
06-09-2010, 06:31 PM
this

Indeed. However, I suspect that about three years from now there will be all kinds of conspiracy sites established with names such as oilspillresearch.goldmansachs.net and etc.

I also suspect that many of this forums' followers will "convert" into "BP Truthers" over time. :rolleyes: :eek: :o

Sentient Void
06-09-2010, 06:32 PM
It doesn't end there. Not with Goldman Sachs. Turns out - The chief executive of BP sold £1.4 million of his shares in the fuel giant weeks before the Gulf of Mexico oil spill caused its value to collapse.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7804922/BP-chief-Tony-Hayward-sold-shares-weeks-before-oil-spill.html

Perhaps it is just a coincidence, and has something to do with such a bill. Personally I'd like to see the source for a claim of such a bill - and the burden of proof is on you. Not saying it's not true, just please provide a source whenever you are debunking something. Should be common practice is all ;)

I'd rather see my own and others' suspicions about this defused ASAP if it is the case of a regulatory bill - and if that's the case, it could make sense as to the reason why everyone would sell their shares.

Razmear
06-09-2010, 07:11 PM
I was posting from what I remembered while websurfing a while back, so I didn't have links handy, so I had to google to get your answers.

March 31:
http://www.npr.org/templates/story/story.php?storyId=125378223



March 31, 2010

President Obama announced the end of a decades-old ban on oil and gas drilling along much of the U.S. Atlantic coast and northern Alaska on Wednesday, as part of an effort to reduce foreign imports and win support for an energy and climate bill.

The changes in policy would allow drilling on tracts as close as 50 miles to the Virginia shore, and end a longstanding moratorium on drilling from Delaware to central Florida. Exploration in the Gulf of Mexico would be expanded eastward, and swaths north of Alaska would be opened up.

The spill was on April 20th, about 3 weeks later.

I'm not saying Goldman Sachs and BP are not evil, just inserting a factoid to keep y'all from running off in the wrong direction.

eb