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Global Warming: Science or Bankers Climate Corruption

Updated on April 17, 2012

Climate change has taken a temporary step back with all of the health care attention. But it is sure to be at the forefront once again with billions of dollars at stake.

Is Global Warming a real or manufactured issue? Is Cap and Trade a real effort to save us from ourselves? Will CO2 kill us of we do nothing?

As with so many doomsday scenarios, Global Warming wasn't an issue until until politicians made it an issue. That is, they figured out a way to control and make money using it as a front.

Let's look at one instance behind the scenes. What's really going on and who will benefit.

The former CEO of Goldman Sachs Henry Paulson, was nominated for Treasury Secretary on May 30, 2006 by George Bush. He was confirmed by the Senate on June 28, 2006.

As Treasury Secretary, Paulson earmarked over 9 Billion dollars to bail out Goldman Sachs, the largest investment bank in the world. Paulson also decided to let two major competitors of Goldman Sachs to fail, Bear Sterns and Lehman Brothers. Paulson bailed out Fannie Mae and Freddie Mac allowing Barney Frank breathe easy (at least for now) again.

Then there was AIG. At a meeting of the minds the only banker in the room was Lloyed Blankfein who is CEO and Chairman of Goldman Sacks. It was decided AIG should be bailed out to the tune of $85 billion in the name of the economy. Blankfein became the center of attention allowing Paulson off the hook.

AIG paid Goldman Sachs $12.9 billion. Although Goldman Sachs gave back the original $9 billion, Goldman Sachs netted $12.9 billion in taxpayer money.

Neel Kashkari was appointed by Paulson as a Senior Advisor to control and distribute TARP. Kashkari was tapped from Goldman Sacks and held the position of Vice President of the San Francisco office. Kashkari immediately changed Goldman Sachs to a holding company giving Goldman Sachs a financial advantage with access to TARP, FDIC, Discounts, and FED funding. The action freed Goldman Sacks from filing and regulation from the SEC.

While Kashkai remains in the system he has been replaced by Gary Gensler shortly after Goldman Sachs became a holding company. Gensler was a Goldman Sachs partner and co-head of finance. Gensler was also Assistant Secretary of the Treasury from 1997 through 1999 and Undersecretary of the Treasury from 1999 to 2001.

Stephen Friedman a former Chairman of Goldman Sachs is the Chairman of the President’s Foreign Intelligence Advisory Board. Friedman owns quite a bit of Goldman Sachs stock and sits on the Board of Directors that oversees Goldman Sachs. Despite this obvious conflict of interest, Timothy Giethner granted Friedman a one year waver and allowed Friedman to purchase an additional 52,000 shares of Goldman Sachs stock netting him $3 million.

Michael Paese was a top staffer for Barney Frank until he was hired by Goldman Sachs as Director of Government Affairs. This position is a pure lobbyist position aimed at wining and dining lawmakers.

Paese, by the way, replaced Mark Patterson who is now Chief of Staff under Geithner.

Between all this political maneuvering, Goldman Sachs purchased 10% of the Chicago Climate Exchange and 1 billion dollars of Carbon Assets. Goldman Sachs is lobbying hard for Cap and Trade and is in a position to make billions of dollars. Goldman Sachs has also been a heavy contributor to government politicians.

Has Wall Street hi-jacked the government in the name of Global Warming? Perhaps it’s high time we ignored the science and paid attention to the politics – the corrupted politics?

The science won't hurt you but the politics will!


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