Cap and Trade: Wall Street's Latest Scheme

One sector is immune from the economic downturn: global warming lobbyists. A new report by the Center for Public Integrity (CPI) finds that over 2,000 lobbyists have wielded their influence to affect the outcome of the debate over the costly federal regulation of greenhouse gases.

Included in the lobbying ranks were Wall Street firms that were bailed out by the American taxpayer.

According to the CPI study, lobbyists for Goldman Sachs and JPMorgan Chase were involved, and, in total, "the finance industry has as large a lobbying force on climate as the alternative energy industry, with about 130 reps working the issue last year..." [snip]

After taking a financial beating from the explosion of the housing bubble, Goldman Sachs and JPMorgan undoubtedly are desperate to find new markets to generate windfall profits. A cap-and-trade regulatory scheme offers them lucrative potential for profits.

A commissioner of the Commodities Futures Trading Commission estimated that,

"even with conservative assumptions, this could be a $2 trillion futures market in relatively short order."

That would make the carbon market potentially bigger than futures markets of oil and natural gas...

[The largest scam in the history of the planet - and you (and your children) will pay for it.]

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