Friday, June 11, 2010- Peter Flaherty, President of the National Legal and Policy Center, is interviewed by Sally Kidd of Hearst TV on the BP oil spill. Hearst TV provides news reports to 30 broadcast TV stations. Here's a transcript:
On tonight’s Kudlow Report, I discussed the BP oil spill in the Gulf with CNBC host Larry Kudlow; Bruce Lanni of Nollenberger Capital Partners; and energy analyst John Kilduff. Our exchange begins at about 5:25 of the segment. Here is a transcript:
Today I discussed the increasing pressure on BP to suspend its dividend with Matt Miller of Wealth-X, along with CNBC co-hosts Amada Drury and Larry Kudlow. Rep. Peter Welch (D-VT) has organized a letter signed by 50 members of Congress demanding such a suspension. Here's a transcript:
Demanding that BP suspend its dividend is an idea completely without merit. The dividend has nothing to do with BP’s ability to clean up from the disaster or pay damages. Even in a worst-case scenario, BP now has the ability to pay all claims.
Dividends go to shareholders, who include just about anyone who has a pension or owns mutual funds. Dividends are a share of earnings to which all shareholders are entitled.
BP’s management is responsible for the disaster. Although executives own stock, the vast majority of shares are held by people who had nothing to do with this mess.
