Vermont Congressman Welch's call for BP, (a worldwide company based in Great Britain) to eliminate stock dividends and stop advertising (assuming only in the U.S.) meets strong resistance from Neil Cavuto at Fox News.
Is this a typical political ploy by the politician, Welch, to attract attention or does he really believe that the U.S. Congress should be in control of decisions that are legitimately made by a worldwide company's board of directors?
Watch the video and see if you believe that Welch's arguments are economically or legally valid. Cavuto may be baiting Welch, but Welch's arguments seem feeble.
3 comments:
Fascinating video. Welch simply repeated one phrase over and over. Sometimes I hope people get what they wish for. Welch's proposal makes no sense at all and he is exactly why people hate Congress. He cannot possibly be that stupid so he must be proposing this simply because he thinks it will appeal to voters even though it is against their interests. Despicable. (by the way his dropping Warren Buffet's name in the beginning of the piece is a priceless bit of chicanery).
I agree entirely with Welch though his presentation may not be perfect. Why precisely should a global business be beyond the reach of regulation? They are licensed to harvest and exploit public resources. Absurd to imagine that government(s) could not regulate their disposition of dividends in the face of a massive public liability even though it may have been caused in part by the failure of government's own regulation.
They should be regulated. The dividend is red herring.
Post a Comment