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Executive Sadman

'conservative' Types Getting Into Brown Bailout Mode

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OK, only a few posts on a blog, but made me laugh.

http://conservativehome.blogs.com/centreright/2010/06/bp-is-vital-to-britains-future---just-ask-churchill.html

Denis Cooper said...

If we have a vital national interest in who owns BP then maybe we should buy it.

Which could be done very easily, through the Bank of England's existing Asset Purchase Facility:

It would only need George Osborne to send a letter to Mervyn King, telling him to include BP shares within the asset purchases and authorising the creation of the necessary central bank reserves - something like £50 billion at the present share price, apparently.

Reply June 14, 2010 at 09:59

Toby 2 said in reply to Denis Cooper...

It would be a bargain at 50 Billion, sooner or later the share price will return to pre-blowout levels, and it reamins ours !

Reply June 14, 2010 at 10:20

It doesn't add up... said in reply to Denis Cooper...

Excellent idea. Even if the worst case valuation of the clean up costs comes about, it is clear that the shares could be sold at a profit once wiser heads prevail.

Next stop, lets buy some junk bonds in some godforsaken african country. That sounds like a jolly good laugh, what ho, Stanley, theyre cheap right now.

Heck, we dont even have to raise taxes, the only fallout is rampant inflation, and the public will never link the two. £20 tin of beans cant be related to printing money to buy out failing companies.

Makes we wonder if any of those bloggers work for BP, have shares in BP, or are just in awe of BPs destructive abilities.

Its funny how tories suddenly become all socialist when its their money/pensions at risk.

DISCLAIMER: I still hate liebour more.

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Guest sillybear2

The BP brand is damanged goods in the US of course, maybe they should revert to their former name over there, the Anglo-Iranian Oil Company, that would be popular.

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People say the giant squid only sold 44% of its stock, so maybe theyre cost averaging or something and will buy back in once theyve crashed the price enough.

I think it could be a buy, i just dont fancy throwing taxpayers money at it. And printed money DOES cost us all.

Afterall, if all these doomsday scenarios play out, my BP stock will be the least of my issues. :lol:

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Not that i support the idea but to play devils advocate I saw some seemingly attractive points in ZH

  • Buying the majourity stake would give BP soveriegn immunity
  • it may be good for national energy security

Either way I would rather have BP than RBS

OK, only a few posts on a blog, but made me laugh.

http://conservativehome.blogs.com/centreright/2010/06/bp-is-vital-to-britains-future---just-ask-churchill.html

Denis Cooper said...

If we have a vital national interest in who owns BP then maybe we should buy it.

Which could be done very easily, through the Bank of England's existing Asset Purchase Facility:

It would only need George Osborne to send a letter to Mervyn King, telling him to include BP shares within the asset purchases and authorising the creation of the necessary central bank reserves - something like £50 billion at the present share price, apparently.

Reply June 14, 2010 at 09:59

Toby 2 said in reply to Denis Cooper...

It would be a bargain at 50 Billion, sooner or later the share price will return to pre-blowout levels, and it reamins ours !

Reply June 14, 2010 at 10:20

It doesn't add up... said in reply to Denis Cooper...

Excellent idea. Even if the worst case valuation of the clean up costs comes about, it is clear that the shares could be sold at a profit once wiser heads prevail.

Next stop, lets buy some junk bonds in some godforsaken african country. That sounds like a jolly good laugh, what ho, Stanley, theyre cheap right now.

Heck, we dont even have to raise taxes, the only fallout is rampant inflation, and the public will never link the two. £20 tin of beans cant be related to printing money to buy out failing companies.

Makes we wonder if any of those bloggers work for BP, have shares in BP, or are just in awe of BPs destructive abilities.

Its funny how tories suddenly become all socialist when its their money/pensions at risk.

DISCLAIMER: I still hate liebour more.

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OK, only a few posts on a blog, but made me laugh.

http://conservativehome.blogs.com/centreright/2010/06/bp-is-vital-to-britains-future---just-ask-churchill.html

Denis Cooper said...

If we have a vital national interest in who owns BP then maybe we should buy it.

Which could be done very easily, through the Bank of England's existing Asset Purchase Facility:

It would only need George Osborne to send a letter to Mervyn King, telling him to include BP shares within the asset purchases and authorising the creation of the necessary central bank reserves - something like £50 billion at the present share price, apparently.

Reply June 14, 2010 at 09:59

Toby 2 said in reply to Denis Cooper...

It would be a bargain at 50 Billion, sooner or later the share price will return to pre-blowout levels, and it reamins ours !

Reply June 14, 2010 at 10:20

It doesn't add up... said in reply to Denis Cooper...

Excellent idea. Even if the worst case valuation of the clean up costs comes about, it is clear that the shares could be sold at a profit once wiser heads prevail.

Next stop, lets buy some junk bonds in some godforsaken african country. That sounds like a jolly good laugh, what ho, Stanley, theyre cheap right now.

Heck, we dont even have to raise taxes, the only fallout is rampant inflation, and the public will never link the two. £20 tin of beans cant be related to printing money to buy out failing companies.

Makes we wonder if any of those bloggers work for BP, have shares in BP, or are just in awe of BPs destructive abilities.

Its funny how tories suddenly become all socialist when its their money/pensions at risk.

DISCLAIMER: I still hate liebour more.

http://www.independent.ie/opinion/columnists/kevin-myers/the-greatest-20th-century-beneficiary-of-popular-mythology-has-been-the-cad-churchill-1876680.html

The IE claims Churchill was on BP's payroll. Puts his idea to use tax payers money to buy BP shares into perspective. BP is at the heart of the UK establishment.

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OK, only a few posts on a blog, but made me laugh.

http://conservativehome.blogs.com/centreright/2010/06/bp-is-vital-to-britains-future---just-ask-churchill.html

Denis Cooper said...

If we have a vital national interest in who owns BP then maybe we should buy it.

Which could be done very easily, through the Bank of England's existing Asset Purchase Facility:

It would only need George Osborne to send a letter to Mervyn King, telling him to include BP shares within the asset purchases and authorising the creation of the necessary central bank reserves - something like £50 billion at the present share price, apparently.

Reply June 14, 2010 at 09:59

Toby 2 said in reply to Denis Cooper...

It would be a bargain at 50 Billion, sooner or later the share price will return to pre-blowout levels, and it reamins ours !

Reply June 14, 2010 at 10:20

It doesn't add up... said in reply to Denis Cooper...

Excellent idea. Even if the worst case valuation of the clean up costs comes about, it is clear that the shares could be sold at a profit once wiser heads prevail.

Next stop, lets buy some junk bonds in some godforsaken african country. That sounds like a jolly good laugh, what ho, Stanley, theyre cheap right now.

Heck, we dont even have to raise taxes, the only fallout is rampant inflation, and the public will never link the two. £20 tin of beans cant be related to printing money to buy out failing companies.

Makes we wonder if any of those bloggers work for BP, have shares in BP, or are just in awe of BPs destructive abilities.

Its funny how tories suddenly become all socialist when its their money/pensions at risk.

DISCLAIMER: I still hate liebour more.

Perhaps the ECB would also like to buy some bonds from Zimbabwe as they are such a bargain and could be kept for a 'rainy day'.

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UK gov becomes 100% liable for BP.

US government fines BP $10trn saying BP caused all coming US financial problems.

UK repossessed by US gov.

:lol::lol:

Very good.

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Its funny how tories suddenly become all socialist when its their money/pensions at risk.

The point to bear in mind is that when wealthy people lose out in this way it's a tragedy of shakesperian proportions that simply must not be allowed to happen.

If those involved were poor the correct term here would be 'market forces'- about which nothing- of course- can be done.

Simples!

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Hmmm ....

Bailout/nationalisation bad, for BP as for banks.

--- but ---

not necessarily bad to talk about it, let the market think you will. If there are hedgies and similar out there deliberately undermining the company to get assets on the cheap, then our government facing them down might be not such a bad thing.

Especially in a case where the vultures are riding the US president's sabre-rattling, there's at least a case for doing something.

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Guest sillybear2

The point to bear in mind is that when wealthy people lose out in this way it's a tragedy of shakesperian proportions that simply must not be allowed to happen.

If those involved were poor the correct term here would be 'market forces'- about which nothing- of course- can be done.

Simples!

Apparently 18m Britons have a stake in BP in some way, unlike all those "ordinary second home owners".

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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