On Monday, we gave you a story and explained that you can't have financial regulation done by the crooks and thieves we currently have in Washington, D.C. The best way I can explain it is with George Clooney.
Do you remember the movie "Oceans 11"? They go in and rob the casino and Andy Garcia's character calls the police. But he wasn't really calling the police. When the cops arrived, it was George Clooney's team of crooks dressed up as cops. They rigged the phone lines and the real cops had no clue. Garcia actually called the robbers to come and help stop the crime they were committing.
So we're Andy Garcia on the day of the robbery: We call the police and these are the robbers.
This is what's happening; the only difference is there are trillions dollars at stake.
It's been 17 months since the financial scandal that resulted in entire life-savings being wiped out. No one's been arrested. And now Goldman Sachs is being painted as the bad guy. There are plenty of bad guys to go around. This question led us to show you what has turned out to be a wormhole of bad guys: the Chicago Climate Exchange.
Here's a quick review of what we've covered so far, to get you up to speed:
Cap-and-trade — what is it? It's the trading of puffs of air. Company A pollutes more than Company B. Company A must pay a fine, which is transferred to Company B, who earns a credit. The companies continue to pollute the exact same way, it just costs Company A more and Company B gets rewarded.
If I am going to build this into an industry, I need a to-do list:
• First we have to put together a carbon exchange:
While Obama was on the Joyce Foundation board, the group steered $1.1 million in grants instrumental in developing and launching the privately owned Chicago Climate Exchange.
• Now we need investors:
Al Gore's company — Generation Investment Management — is the fifth largest shareholder in the Chicago Climate Exchange. Gore's company has several former Goldman employees on the roster.
Then Goldman Sachs steps to the plate and buys 10 percent of the combined company.
• Next we need the technology:
Fannie Mae, under the leadership of the Franklin Raines, purchases patent on system to trade residential carbon credits that was described as "how carbon and other pollutants yet to be determined" would be "combined into a single emissions pool" and traded — just as Fannie's toxic portfolio of subprime mortgages were. It appears Raines wasn't content with destroying only the housing market.
So you have the same crooked people who have contributed to the financial meltdown — Goldman, Fannie, socialists and out and out crooks — actually trying to "fix" the economy and the environment and, oh boy, believe me the fix is in.
• Now we need the law:
Well, the law is cap-and-trade. Remember when cap-and-trade was supposed to happen right after health care? Well, immigration has Congress' attention now, so let's skip ahead to:
• The cover:
Al Gore has been pushing cap-and-trade for quite some time. Obama has been pushing it as well. Many on the progressive left want it. Why? If it's about the environment, cap-and-trade is a proven failure. It's been tried it in Europe: failure. Now, a voluntary system — the Chicago Climate Exchange — is tanking. Why? Because you can't get people to voluntarily buy air, when there's plenty of air to go around. It's scam. It's like being at the beach and selling people a bucket of saltwater. I'm three steps away from the ocean — it's free.
The entire green movement can't stand on its own two feet and the only time anything green ever gets money is when it comes from government. Even some of the top scientists who believe in global warming say this won't do anything to stop companies from polluting. They'll just be paying a little more for it and companies like Enron were scheming to make money off of it — they even lobbied for cap-and-trade.
Some of the eco groups don't even do what they promise. The Vatican found this out when they became "carbon neutral," but not one tree was planted in Hungary's so-called "Vatican forest" for offsets. Who scams the pope? You want to know about warming? I got "eternal warming" for you.
So the question is: Why is it still being pushed? The redistribution of wealth and to enrich the corrupt.
We did a little digging and followed the money and the answers tell a familiar story. And before we get going on this, I just want to warn you: If there's one thing I'm learning about progressives, they really like creating groups. They've got tons of them and it seems they just pass the money from one to the next. It's almost like money laundering. It's why health care can pass: You don't know what the hell anyone is talking about and everyone always sounds so happy. Words and names of groups mean nothing. Unfortunately for them, people's faces still matter. We know them by reputation.
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