With everyone else away, I'll do a short silly-season run of company-based pieces - energy, of course - starting with BP.
My BP insiders said otherwise. Yes, they said, we were burned last time around (like Exxon and Shell and Chevron and Marathon and ...) but this time, *nudge nudge*, everything is going to work out.
What is is with oil companies and Russia ? Well, huge reserves, for one thing. And somehow it will all be different next time. But it never is, because the Russians don't change their ways in a hurry: they never have, and why would they start now ? Might is right, contracts mean nothing, win-win is for wimps.
Anyhow, against all better judgement I sort-of believed them (though not to the extent of going long BP, oh no, not with Two-Faced Obama still on their case).
So BP's travails continue. It's a measure of their size and underlying muscle that they can survive all this in any kind of shape at all. But for how long can a company soldier on with such poor judgement on big issues ?