Let Them Eat Cake (Extra Crude Edition)

If you have any illusions what the big money people think about BP, let hedge fund maven Dennis Gartner illuminate you as to what us "little people" should be expecting.

Congressional questioning of BP CEO Tony Hayward was "amazingly idotic, repetitive and ill-mannered," said hedge fund manager Dennis Gartman, who is "embarrassed today for being American."

The author of The Gartman Letter, a daily investor guide, compared the questioning to the Spanish Inquisition and said Hayward—brought to Washington to defend his company's role in the Gulf of Mexico oil spill—conducted himself admirably despite the circumstances.

"And yet Mr. Hayward was made to remain before this commitee for hours yesterday, subjected to idiocy of the first order, expected to remain gentlemanly and in complete control...(despite)  hopes, apparently, that he'd make one slip of the tongue that would doom BP to a legal hell," Gartman wrote. "He did not. He kept his composure in a way we could not imagine that we could ever do under the same set of circumstances."

Hayward a hero resisting Obama.  Gartner "embarassed to be an American" for Congress asking BP's CEO what he plans to do about that massive oil geyser that will basically wipe out the Gulf Coast economy.  And guess who the only real Congressman on the Energy committee is?

And he praised Rep. Joe Barton (R-Texas) who came under fire for apologizing to Hayward after the administration strong-armed BP into putting up a $20 billion reserve fund for the spill cleanup.

"He was the only one on the committee with a sense of fair play, with a sense of honor and who was in fact embarrassed by what his fellow members of Congress were doing before the cameras yesterday," Gartman said. "We know nothing more about Mr. Barton but we know this: when others were taking the lowest road, he took the one much higher when the chips were down."

What a guy, that Barton.  Gartner's position?  Of course Congress should be apologizing to BP.  That should be their natural state.  How dare Obama think he's allowed to run this country or get BP to pay for the hundreds of thousands of folks directly affected by BP's catastrophic negligence.

It's a good thing we have hedge fund bazillionaires like Gartner here to defend America's most precious resource in the Gulf...oil companies!

Right?