Boehner takes hit on 2009 BP stock buy (Instant Karma!)

[tekisui]

Source: iStock Analyst

Jun. 17--WASHINGTON -- House Minority Leader John Boehner bought as much as $50,000 of BP stock months before the massive oil leak in the Gulf of Mexico caused the oil giant's stock price to plummet by as much as 50 percent.

In financial-disclosure statements filed yesterday, the West Chester Republican said that in December, he bought tens of thousands of dollars in stock in a number of energy companies, including BP, ConocoPhillips, Chevron and Exxon-Mobil. Under congressional rules, Boehner was required to report only broad financial ranges -- in this case, that he bought between $15,000 and $50,000 worth of stock.

BP's stock peaked at $62.38 a share in January, On April 20, one of its deep-water rigs ruptured. The stock closed at $31.85 a share yesterday.

Meanwhile, the The Washington Post reported yesterday that nearly 30 members of the congressional committees overseeing oil and gas companies held personal assets in the industry totaling $9 million to $14.5 million late last year. That included at least $400,000 in the three companies at the heart of the oil disaster, according to a Post analysis of financial-disclosure forms released yesterday.

more: http://www.istockanalyst.com/article/viewiStockNews/articleid/4225645

[damntexdem]

1. Instant karma indeed -- just add oily water.

;-)

[aquamarina]

2. Wow! No conflict of interest there.

[cbdo2007]

3. Don't those disclosures just cover through 2009?

what if he sold before the oil rig disaster? He could have easily made money by buying in December and selling in early January.

[rocktivity]

4. And I thought he denounced Barton's apology

because he didn't want it to come out that Barton has received more than 1.5million dollars from big oil!

:rofl:
rocktivity