Tuesday, May 12, 2009

Obama's cap and trade plan "monstrously stupid"

President Obama’s proposal for a cap and trade system to head off global warming would be "monstrously stupid," according to Berkshire Hathaway Inc. CEO Charlie Munger, in an interview with CNBC.

“It would be a huge shock to the economy and it wouldn’t accomplish very much given the fact that the vast majority of the pollution, or rather the CO2, is coming from a place like China"

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