Skip to comments.BP Hearing an Inquisition, Congress 'Idiotic: Gartman
Posted on 06/19/2010 12:53:58 AM PDT by Qbert
Congressional questioning of BP CEO Tony Hayward was "amazingly idotic, repetitive and ill-mannered," said hedge fund manager Dennis Gartman, who is "embarrassed today for being American."
The author of The Gartman Letter, a daily investor guide, compared the questioning to the Spanish Inquisition and said Hayward-brought to Washington to defend his company's role in the Gulf of Mexico oil spill-conducted himself admirably despite the circumstances.
"And yet Mr. Hayward was made to remain before this commitee for hours yesterday, subjected to idiocy of the first order, expected to remain gentlemanly and in complete control...(despite) hopes, apparently, that he'd make one slip of the tongue that would doom BP to a legal hell," Gartman wrote. "He did not."
Gartman also said the Obama administration's ban on deep-water drilling would send oil platforms elsewhere in the world, damaging the Gulf economy even more.
And he praised Rep. Joe Barton (R-Texas) who came under fire for apologizing to Hayward after the administration strong-armed BP (NYSE:BP - News) into putting up a $20 billion reserve fund for the spill cleanup.
"He was the only one on the committee with a sense of fair play, with a sense of honor and who was in fact embarrassed by what his fellow members of Congress were doing before the cameras yesterday," Gartman said. "We know nothing more about Mr. Barton but we know this: when others were taking the lowest road, he took the one much higher when the chips were down."
(Excerpt) Read more at finance.yahoo.com ...
Need I say it???
I get so tired of “righteous anger” every time someone is called before Congress. Just call a witness and ask questions dispassionately. You aren’t impressing me, and it’s actually a little unsettling to see people in positions of power “seething” with “barely controlled rage.”
My son said the exact same thing today. He said it reminded him of the inquistion, and these exhibitions in congress were idiotic and depreciating.
I never watch these congressional grillings. They are political theatre at it’s worst.
Obama got lots of BP money. Obama's five-million-dollar pimpmobile with five-inch ballistic armor runs on BP's stuff.
As does his pimpplane aka Air Force One.
Waxman the jackass.
A mile down the pressure is greater than that of gasbag poseurs waxing inquisitorial for the cameras.
I agree. Nostrilitis Waxman was beyond obnoxious.
Lets all remember that BP employs more Americans than British and the chain of command on what was done at the Deepwater Horizon was American.
Had our gov’t done its job, same as immigration—we wouldn’t be having THIS problem today.
We pay taxes for a gov’t that doesn’t do SHITe!
Absolutley...tight and enforced regulation is what is needed.
Gartman is right, as he is on most things financial.
They have NO idea how their sham sensationalism plays in the rest of the country, they all look like rude, crude, hyper barbarians from the boondocks.
And just think of how all these Ugly Americans with their illmannered selfrighteousness appear to the international viewers.
It's a national disgrace....
Nostrilitis was the same clown that wanted to drag all the CEO’s of large companies in for another show trial because they took charges in their financial statements to reflect expected losses resulting from Obamacare...Until somebody told him they were properly following the accounting rules.