Tuesday, June 22, 2010

Think the Gulf Spill Is Bad...

Robert Kiyosaki:

"The world knows BP is a disaster, a monster of a disaster. Every time a TV news station shows oil gushing from a broken pipe -- one mile below the ocean’s surface -- the audience feels sick. Scenes of oil-soaked pelicans struggling for life angers and saddens us. The financial losses endured by small businesses and fishermen cannot be imagined, let alone conveyed by the media interviews alone. BP is a disaster whose scope is beyond comprehension.

I was in England this month when President Barack Obama blamed and criticized BP for this tragedy. His criticism sparked the anger of the English. Politicians wanted him to tone it down, to be more careful in his choice of words. English Prime Minister David Cameron told Obama “not to go after BP for the sake of it.” Richard Branson said he was “kicking a company when it was on their knees.” Their concern was not for the environment or those suffering the ravages of this disaster. Their concern was for the pensioners who are counting on BP for a secure retirement

On June 17, the UK’s Daily Mail ran a headline screaming, “Bullied Into a £13 Cave-In." Brits are angry with Obama for pressuring BP to suspend dividend payments and set aside $20 billion for the clean up. Obama’s strong-arm position has affected British pensioners, who own 40% of BP, as well as American pension funds that own 39%. In other words, the economic damage of BP goes far beyond the Gulf. The damage is spreading to pensions, pensioners, and portfolios all around the world."

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