Goldman Sachs to cash in on environmental hoax Cap & Trade--Rolling Stone
(Taibbi, Rolling Stone): "Gone are Hank Paulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm's co-head of finance.)
- And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town,
- but will if the Democratic Party that it (Goldman Sachs) gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble,
- disguised as an "environmental plan," called
- cap-and-trade.
- except it has one delicious new wrinkle:
- will be government-mandated.
- Goldman won't even have to rig the game.
- Reference, "Goldman Sachs Buys into Carbon Offsets," 11/12/08 NY Times Green, Inc. Blogs
- "Street Cred: Goldman Sachs Buys into Carbon Credit Developer," 10/27/08, WSJ Blogs
- In September, Goldman Sachs & Co. Inc. of New York paid $23 million for a 10% share in the London-based
- Climate Exchange PLC, parent of Chicago Climate Exchange and of European Climate Exchange in Amsterdam.
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