Pissing Off/On Our Allies

Visa Instapundit, the Economist reports that the Brits are not happy:

Nobody should underestimate the scale of BP’s mistake, nor the damage that it has caused. But if the president does not stand up for due process, he will frighten investors across the board. The damage to America’s environment is bad enough. The president risks damaging its economy too.

No one should be surprised.  Remember GM and Chrysler?  I have a good friend who is an in-house attorney representing bond funds.  He is also a life-long liberal.  During the GM bankruptcy, he was appalled at the lawlessness of the government’s strong-arming of bondholders. 

Query: if a government does not respect property and other legal rights, who in their right mind would invest there?  Would you invest in a farm in Zimbabwe?  Didn’t think so.

Advertisements
Published in: on June 18, 2010 at 1:31 pm  Leave a Comment  

The URI to TrackBack this entry is: https://mangyredbonehound.wordpress.com/2010/06/18/pissing-offon-our-allies/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: