Goldman Sachs Sold 44% of its BP stock THREE weeks before the Disaster

[bobbyw24]

Want Proof? HERE IT IS... http://moneycentral.msn.com/ownership?Holding=Institutional+Ownership&Symbol=BP This is a list of the institutional owners of BP stock. This is NOT private owners. There are 350 million shares of BP. Financial Institutions own roughly 40% of BP. Goldman Sachs (on March 31st) owned 6 million shares...after it sold 4.7 Million shares. WHAT DID THEY KNOW?

http://www.freedomsphoenix.com/News...sachs-sold-44-of-its-bp-stock-three-weeks.htm

 

[specsaregood]

If they knew something wouldn't they have sold more? Why eat it with the majority of your shares?

 

[sevin]

I've been wondering if this disaster were planned. Now I think it probably was. Of course, it could still be a coincidence.

 

[SooperDave]

they wouldn't sell all the shares because that would be too obvious

 

[specsaregood]

they wouldn't sell all the shares because that would be too obvious

Didn't say "all". But why eat it with over 50%?
Who cares if it is "too obvious"? It ain't like their minions in govt are gonna do anything about it.

 

[JosephTheLibertarian]

If I were psychic like Government Sachs, I too would be selling my shares 3 weeks in advance.

 

[TheState]

So GS sold 4.6 million shares at an average of $59 per share.

BP is currently at $36 a share. This would have meant a loss of about $100,000,000. (and they still lost over $100,000,000 on their remaining shares)

That seems big, but is it really?

GS had a 1st quarter earnings per share of $6.04, or about $3 billion. So $100 million is big, but doesn't seem worthy of a big conspiracy.

 

[DAFTEK]

With everything going on and the way the government is out for blood now to prosecute someone or what the Middle East holds for the near future I'm not surprised if this was an inside job... Anyone still pumps gas from British Petroleum?

 

[JosephTheLibertarian]

With everything going on and the way the government is out for blood now to prosecute someone or what the Middle East holds for the near future I'm not surprised if this was an inside job... Anyone still pumps gas from British Petroleum?

but why do it? what's the agenda? goldman can piss what it made on selling bp stock

 

[SevenEyedJeff]

I would like to see a list of all the oil companies GS owns and has bought/sold recently, and if it's ONLY BP that they reduced their holdings of so much, then I can see the conspiracy. But if it was a general selloff of a large number of the oil/oil related companies they own due to the weakness in the oil market, then nothing can be said.

Update:

I took that MSN page and inserted the ticker symbols of some other large oil companies and Goldman Sachs was not listed as an investor for any of the others. I tried Exxon, Royal Dutch Shell, Chevron, Conoco Phillips, China Petroleum, Total S.A., and they must not be a major investor in any of those.

 

[angelatc]

You conspiracy people are pretty funny sometimes.

 

[Bossobass]

I'm still tryin' to figure out how 4.7 million is 44% of 6 million???

That's the trouble with passing laws to enable creation of a Mega-opoly like BP. Conspiracies arise from the simple fact that the sheer size of the company and its influence make all things possible.

Bosso

 

[Liberty Star]

Another Goldman investigation for insider trading is about to start it seems..

 

[Jordan]

If this was planned, why would Goldman hold any of its shares?

If this was planned, why wouldn't they go net short?

 

[TheFlashlight.org]

Could be a coincidence, but noted as interesting.

 

[bobbyw24]

Raw Story Picked it up

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 Taibi, who famously dubbed the firm a "vampire squid."

read more

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