Freeport's Energy Deal: the Real Reason Behind It
With Wall Street and Washington both having huge incentives to get investor dollars out of commodity markets (and into various forms of banker scams, like U.S. Treasuries), this tag-team could have easily kneecapped Freeport as retribution for drawing attention to economic dynamics, which this cabal wants to conceal at all costs.
Of course, they aren't the only ones who might be looking to "punish" the company after this announcement. The other prime suspects responsible for the plunge in Freeport's share price could be enraged (former) shareholders. Senior management stands to collect hundreds of millions of dollars for themselves for spinning back in the same corporate asset that the company spun out: McMoRan Exploration -- the "McMoRan" in what used to be Freeport-McMoRan.
It's certainly understandable that many shareholders would be overwhelmed with nausea as they contemplated senior management reaping millions for correcting a past mistake. Presumably, management also rewarded themselves with fat bonuses when McMoRan Exploration was originally spun out.
This highlights a much broader issue of corporate governance: the need to pass a law against any sort of bonus, commission or other incremental salary gain being paid to any member of senior management of a corporation for doing nothing more than pulling out their checkbook and writing a check. That subject, however, will have to be left for another day.
-- The writes owns no shares of any companies mentioned.