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Wednesday, July 08, 2009

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.) the next bubble, is in carbon credits — a booming trillion- dollar market that barely even exists yet,
  • 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,
The new carbon-credit market is a virtual repeat of the commodities-market casino that's been kind to Goldman, If the plan goes forward as expected, the rise in prices
  • will be government-mandated.
  • Goldman won't even have to rig the game.
from Rolling Stone article by Matt Taibbi, "The Great American Bubble Machine: How Goldman Sachs has Engineered Every Major Market Manipulation Since the Great Depression" 7/02/09 November, 2006, BNet: "NEW YORK - Market-based incentives to cap carbon emissions have created a budding commodities market that recently has caught the attention of U.S. investment banks and brokerage firms. On Oct. 26, New York-based Morgan Stanley said it would invest in about $3 billion of carbon credits and emissions reduction projects over the next five ..." "Street Takes Notice of Carbon Credit Trading; Goldman, Morgan Stanley Invest in Exchanges, Emission Reduction." byline Riva Froymovich

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