PrintJune 17, 2010
The BP Shakedown
The Obama administration has just made certain that there will be minimal foreign or even domestic investment in the United States. Their shakedown and blackmail of BP has major corporate investors looking elsewhere for expansion and exploration. No company answerable to their shareholders or investors will risk capital in a country which has brutally abandoned the rule of law.
My company is headquartered in Switzerland and in recent conversations with business executives and clients overseas, they have told me that this and many of this governments actions has completely chilled their enthusiasm to invest in the United States.
The same applies to domestic U.S. companies, why would they expand within the country or even continue to do business here? They will not.
This lack of faith and confidence will not be easily overcome and will exacerbate and make permanent a high unemployment rate and a lower standard of living. This is yet another step in making certain another recession in just over the horizon.
