Will Obama’s Goldman Sachs Attack Expose Al Gore? Or Other Dems?
Whether Wall Street colossus Goldman Sachs has committed a crime remains to be seen, but the investigation may well uncover the environmental lobby and its public figurehead. For nearly a decade, Goldman Sachs has been a quiet but major investor in cap and trade. And Goldman’s main investment partner has been Al Gore.
About a decade ago, Goldman executives recognized that personal fortunes could be made with the invention of a carbon trading system through the passage of a U.S. cap-and-trade bill. This area was well suited to Goldman Sachs, the architects behind the complex world of futures trading and exotic derivatives.
Goldman joined Al Gore in 2004 and capitalized his investment company, Generation Investment Management. Strangely for a man who was a heartbeat away from the presidency, Gore decided to register his company in London — not the United States.
In November 2004, Gore unveiled GIM. Standing at his side was David Blood, the CEO of Goldman Asset Management. Blood was to become his co-founder (the new company was quickly nicknamed “Blood & Gore”). It was established with the initial capital of $206 million, much of it from Blood clients at Goldman Sachs.
Gore also turned to Goldman Sachs guru (and later Bush Treasury Secretary) Henry Paulson to help him establish GIM. At the time, Paulson himself was an eco-warrior of sorts, serving as chairman of the board of the Nature Conservancy.
Today, seven of Gore’s GIM chief partners are from Goldman Sachs. The company is now valued at $2.2 billion.
It doesn’t stop there. The Goldman Sachs/Gore team then established the Chicago Climate Exchange (CCX), a new cap-and-trade carbon trading platform, and partnered with the UK-based Climate Exchange, Plc (CLE), a holding company listed on the London Stock Exchange. CLE does carbon trading in Europe. In late 2004, they also created the Chicago Climate Futures Exchange (CCFX).
In September of 2006, Climate Exchange Plc acquired the remainder of CCX it didn’t own and placed £12.2 million of new shares with Goldman Sachs.
Goldman is reported to have made an investment of $23 million in the venture. Between Gore and Goldman, they are the largest investors in the Chicago Climate Exchange, owning 20% of it.
Its great to see the Congress working hard to fix the Big Banking, Goldman Saks, financial destruction. Bush really messed that one with his pro deregulation of big banks and the massive “Tax and Spend” legislation from 2001 to 2005. By the financial crash of 2007 it was too late. Hopefully, because of that debacle, lessons can be learned and the nightmare will come to a close. I do not think Al Gore can be blamed for Bush policies though I believe some of the Clinton/Gore legislation was sponsored by Congress, which was Republican controlled at that time. Hopefully, once the FS bill passes, it should go some way to will restoring some integrity in our country’s financial institutions, hence, start to recover our tremendous wealth. There is much work to do.
I wonder how long the Democrats will continue to push the lie that Bush deregulated the banks and that nothing bad was ever done by Democrats. As to the crash of 2007, that exists mostly in your mind.
PC, that would be the deregulation that happened in 1998, sponsored by Robert Rubin w/in the Administration.
I am so glad you read this article (not). It is basically saying the Goldman Sacs, Gore & Company and the Democrats are turning Carbon Taxes into the new “housing” bubble or “tech” bubble (ie making Goldman Saca millions). They are letting the good times role, courtesy of the Obama administration which is involved up to its eyebrows.
Actually, the Clinton administration was the one that deregulated a lot of these banks. He signed the Gramm-Leach-Bliley Act which repealed part of the Glass-Steagall Act of 1933. This opened up the market among all types of banking/investment banks/insurance companies. Clinton. Clinton.Clinton did this.
As the presidential attack on Goldman intensifies, will Obama wound some of his closest political allies?
No. They will resign and be recruited into the hierarchy of fraudsters and extortionists in the Obama Adminstration.
With the Democrats running the hearing, there’s no chance that any of their perfidy will come to light.
As usual, PC makes no mention of subprime mortgages, Fannie Mae or Freddie Mac, and certainly not of the Bush admin’s attemts to defuse that time bomb which were stymied by Dodd, Frank and the Democrats.
I also love his lame attempt to castigate spending 2001-2005, and ignore completely the vastly bigger spending orgy of the Pelosi Congress.
The complete lack of any article mentioning the financial reform debate shows this sites hypocrisy more than any other thing I have witnessed. Where is the outrage at republicans meeting with wall street executives behind closed doors? Where is the outrage at the republicans attempting to block derivative regulations? The bill contains language to take apart “too big to fail” banks, why are people who write articles here not up in arms. It completely shows that people here are not truly anti establishment and for small businesses, but are strictly just anti-democrats. The writers here claim to be part of a tea party movement, but it is a sham.
Thank you. We always try to exceed our previous achievements.
This bill does not take apart “too big to fail banks”. Rather it sets up a permanent $50B slush fund so that none of them need ever worry about failing again.
I know that the 50 Billion is all that they talk about on Fox news, so that is all you are aware of, but some of us choose to educate ourselves instead of relying on new shows. Title II of the bill is labeled Orderly Liquidation Authority, and describes how the govt will take apart failing banks that are “too big to fail.” In fact there is a large part of the bill dedicated to that specific topic. Read the bill, instead of listening to Bill O. In regard to the 50 Bil that is a slush fund paid for by the banks themselves to make sure it is not tax payers bailing them out. You are clearly uneducated on the matter because sites like these are staying away from the topic because it makes republicans look bad.
I’m sure you actally believe that this will happen.
Then again, you normally do believe what ever Obama tells you to believe.
What is wrong with you. It is not a matter of belief. It is the words in the bill. It is cold hard fact that you can read for yourself. It is like I am telling you the sky is blue, and you are telling me I can believe what I want. I encourage you to read the bill and decide for yourself. However, you are making up your mind without having read the bill based on the news you watch. This is what is wrong with our country. People choose to keep themselves ignorant on both sides, and it hurts us in the end because we cannot keep our politicians accountable if we do not arm ourselves with the truth instead of conspiracies.
Actually, it’s words in the proposed bill. No telling what the final bill will say.
Additionally, the words only authorize actions, they do not require them. On the other hand the bill also creates a $50B slush fund that totally eliminates the need for action alltogether.
You are quite naive about how power works, aren’t you.
Why do you keep glancing over the fact that the 50 bil dollars is raised from the banks themselves. Why do you keep presenting it like the tax payers are going to raise the funds. While yes it is the proposed language of the bill, which I assume you think is a good idea. The only reason it would not be adopted is due to Republican political obstruction because they have private meetings with wall street executives behind closed doors. The republicans do not care about you just about winning elections.
Any EXACTLY where does the bank get it’s money? From its customers!
Brian. maybe if you did your research like you said, you would see that Chris Dodd (D) Connecticut, is the sponsor of this bill. Not very trustworthy you think?
Goldman Sachs gives $980K to the presidential campaign. The CEO from Goldman Sachs visits the President multiple times while these fraud charges are being put together with the Goldman Sachs lawyers present. Now we are to believe all this legislation is needed regulate the financial system? And they will beat this drum that Wall Street needs fixing? Or does it need another tax dollar fix? Is this a sham designed to shame Congress in to voting for it?
The CO2 global warming story is a triple lie:
1. More CO2 in the air has no practical effect on the earth’s surface radiation heat balance. You must comprehend the basics of earth surface radiation heat transfer to know this.
2. More CO2 in the air significantly increases the rate of green plant growth.
3. The IPCC have covered up the fact that we are now in an overall cooling cycle.
It would be useful to document the Al Gore Goldman Sachs carbon market relations. I think Gore/Goldman suborned bogus temperature data gathering & organized some of the carbon market racket. I bet a technically skilled lawyer could get a RICO conviction.
1. Even if it has no effect on the earth’s surface radiation heat balance, it is acidifying the oceans in a very harmful manner.
2. plants can only absorb so much Carbon at one time. So when the plant is being deforested at a huge rate per year the amount of plants decreases, and they are not able to take in the excess carbon.
3. If we are in a overall cooling cycle why the yearly avg temp of the surface rising???
Brian N
…. Ask yourself something, why are the warmists asking you for money but those that believe in conservation but not in man made global warming don’t want a dime from you?
1. So you agree that CO2 has no effect on the earths temp, finally.
2. In the oceans, there is a buffering reaction between the sea floor basalts and sea water. Sea water has a local and regional variation in pH (pH 7.8 to 8.3). It should be noted that pH is a log scale and that if we are to create acid oceans, then there is not enough CO2 in fossil fuels to create oceanic acidity because most of the planet’s CO2 is locked up in rocks.
When we run out of rocks on Earth or plate tectonics ceases, then we will have acid oceans.
3. If you keep looking only on liberal or progressive sites you will never get the whole truth. Expand your horizons, and check out the truth no matter where you find it. It’s quite refreshing actually
Man, you really do get into believing lies.
1) The oceans are not acidifying, they are getting slightly less basic. Additionally, there isn’t a shred of evidence that this very marginal change is enough to cause problems. Laboratory experiments have shown the shellfish create thicker shells when dissolved CO2 goes up. Remember, a few million years ago, atmospheric CO2 levels were more than 20 times today’s levels. Plants and animals not only survived then, they thrived.
2) Plants thrive when CO2 in the atmosphere gets closer to the geologic norms. Far from deforesting, the world’s plants are thriving.
3) Surface temperatures are not rising, even the directory of the CRU has admitted there has been no net warming over the last 15 years. When the current large El Nino finally expires, the world’s temperature will fall again.
“The oceans are not acidifying, they are getting slightly less basic” if they are getting less basic they are getting more acidic. That is like saying it is not not getting colder just less hot. I do not go to liberal sites, I just read scientific articles. Like this one. http://icesjms.oxfordjournals.org/cgi/reprint/65/3/414 . It has nothing to do with climate change, it only looks at the changing PH levels of worlds oceans and the effects on the calcium shells on micro organisms. While yes these organisms do you use CaCO3 to make their shell, multiple species have been shown in tests to have their shells decrease when the ph is increased. Next the world loses about 13 million hectares of forest ever year. I have no idea how you can claim the worlds forests are thriving. That is a ridiculous statement. If co2 is all getting locked into rocks then why are the levels of co2 in the water increasing. I agree that the science around climate change is unclear, but this is clearly happening. As for the money, the groups who are opposed to the idea (natural gas, oil, and coal) do not need to ask for money, they fund the research and run commercials. Both sides clearly have something to gain from their narrative, and it is naive to think just one side benefits. My question though is what is how is a biologist from RI benefiting from publishing articles in a journal. They get no money or real status from the publication.
A barely measurable change in PH levels that nobody has been able to demonstrate makes any difference at all. Actual experiments using much greater changes show no problems, but as always, climate “scientists” cling to their models, even when those models are contradicted by the real world.
Ocean Acidification is a problem that exists only in the minds of those desperate to replace global warming as a reason to bring industrial society to a halt.
“barely measurable” it is not barely if it is having an impact on the organisms. The scientific article I linked to shows that it has had many impacts on the ocean fauna. You claim studies have shown something then show me the studies. I presented you with hard scientific data that supports my argument, you should do the same.
Quit your lying. There is no documented evidence that this alleged “acidification” is affecting anything.
There are people pointing to things and claiming they are the result of acidificatioin. Just like the liars tried to claim that melting of some arctic ice a few years ago was caused by global warming, or the way they try to link everything that happens to global warming.
There is not a shred of scientific evidence that the alleged “acidification” is negatively affecting anything.
I came across so many articles on the negative effects of ocean acidification that it seemed silly to list them all. If you are curious type negative effects of ocean acidification into google scholar and you will have all the scientific literature you can handle on the subject explaining why you are wrong.
why are you and others so quick to beleive in man made global warming? does it make you feel better? humans have only been industrialized for a 100 years or so, and in these 100 years of mass production, you think we are melting the earth? why are not other areas looked into as what is going on with this earth? We have had ice ages before, and then the earth got warmer. how did the earth get out of ice ages? it wasn’t because i was driving my SUV. The government’s goal in all of this, eventually with the EU, and other conjoined governments, is to control us. They will not control us like the ex Soviet Union tried to do so blantanly, they will do so right where it hurts, in our pocket books. Don’t be so gullible. Man made Global Warming is a junk science. It has not been scientifically proven.If it was, it would be proven just like we know the Earth is Round and not Flat. Al Gore is a liar and manipulator he will make billions off this. All the while they tell us to not use water and to not fly as much. That is an insult.
GS was a tool for Obama . They bundled smelly CDO’s fed the subprime fiasco.
When Obama worked for ACORN, he sued Citi to pressure them to make loans to people without jobs, income and down payments. You don’t want show trials that bring this out and shame the regime?
There are so much misinformation going on in your few sentences it is hard to know where to begin. Well, lets start with the obvious. Obama never worked for Acorn. That one was easy. After law school he worked for several law firms. Your second sentence is correct. GS did did commit fraud which intensified the sub-prime fiasco. How was GS a tool for Obama? Are you saying he wanted the subprime fiasco to occur? It is not a show trial if GS fraudulently ripped people off to the tune of 4 bil dollars.
What flavor was your kool-aid. Obama served for a time as ACORN’s lawyer.
There isn’t a shred of evidence, beyond Obama’s claims, that GS committed fraud.
Obama’s ripping people off to the tune of 10′s of trillions of dollars.
You’re making this easy. Barry didn’t work for ACORN in the same sense that he didn’t work for Tony Rezko. Or know Bill Ayers, or ever hear anything amiss from Jeremiah Wright, or anti semitic from Rashid Khalidi.
For a guy who only reads science journals you seem to be spending quite a bit of time making a fool out of yourself here. As far as oceanic acidification goes, you may consider a new trope. The current and higher levels have occurred in the past, as well as their inverse.
“Are you saying he wanted the subprime fiasco to occur?”
as a student of Saul Alinsky’s Rules for Radicals, Obama just might want a “fiasco” to use as a catalyst for the social change his Marxist beliefs demand.
You know Old Saul Alinsky don’t you? The so-called “father of modern American Radicalism?” Since Obama is a community organizer, and the main job of the organizeris to bait an opponent into reacting, what better way to get people to react than a financial “fiasco?”
Unfortunately this fiasco has been building since at least the Carter administration with some help from Clinton. Obama is just the latest one to pick up the flag and lead the charge to destroy our freedom for our own good.
Brian N: Try reading Obama’s TWO Autobiographies, and you will learn all about his ACORN connections. There are even plenty of tapes of him making speeches to these clowns. He and they are one! Don’t believe us? Just listen to his own words. By the way, I said it before and I’ll say it again- Who writes two autobiographies about themselves before they have accomplishes anything?
I see that everyone is willing to misread what I said in order to keep their narrative. My statement was that Obama never represented Acorn as an attorney. Cases are public record, so if anyone can show me a case where he acted as an attorney for the group I would be willing to concede the point.
NY Times ok with you?
http://www.nytimes.com/2008/10/11/us/politics/11acorn.html
“While Mr. Obama did represent Acorn in a lawsuit in 1995″
That does work. Thank you, I stand corrected.
EnvironMENTALists are a Doomsday Cult. They have the same emotional makeup as suicide bombers.
Who was that goofy guy a few years ago…Appeldore, and before him, the not at all a Christian, Jim Jones.
http://4merly-a-person.livejournal.com/183110.html
In this video of Vaclav Klaus, please look at the sniffing little comments from narcissistic children of the damned, about Snow Leopards, and how Mr. Klaus wrecked the Czech Republic’s ECONOMY! Atheists seek to control others, because they have no self control, and they are insanely jealous for OTHER PEOPLE!
Everything that ISN’T a religion, REALLY IS!
Scientology gets better press, than Christianity.
All godless religions are the SAME! The Faithful, worship their leader’s and their OWN brilliance.
The pharoahs were all married to their sisters and daughters. They always abused and opressed and murdered Jews.
Tut and his sis, were the last, of the line. Two Choices were buried with Tut. Sis couldn’t bring them to term.
Signs Of The Times Feb.,10For example, a state agency called the N K V D was watching those applauding that day (for Comrade FDRs Uncle Jo) to see who might be OPPOSING Josef and his IDEAL SOCIETY (UTOPIA.) The first ones to cease applauding and sit down were identified as INDEPENDENT THINKERS, A DANGER TO THE STATE. Many went to prison, some were executed, all in the name of a PERFECT SOCIETY THAT WOULD ELIMINATE PAIN AND SUFFERING.
Al Gore is a glutton. GW Bush has lived in a prize winning, GREEN home, since before he was elected, AND, he is physically fit. Think about it…Bill Bypass Clinton, Land Whale Gore and Narwahl Oinkey Moore.
We are trying to REASON with insane people, who seldom leave their homes because of various phobias, who KNOW what’s going on in the world, by the way they FEEL about a subject.
They are ALWAYS ON OFFENSE…OFFENSIVE!
David Horowitz said…You cannot talk to somebody who wants to kill you.
http://network.nationalpost.com/np/blogs/fpcomment/archive/tags/Ross+McKitrick+and++Bruce+D.+McCullough/default.aspx shows the effect of sloppy, or politicized, science.
The necessity to be right in regards to the Civil Rights Act, as well as Kyoto and the rest of the claptrap which blames people for being the most influential culprits for the climate going berserk – this is part of the legacy of the politicized peddlers of propaganda who started in the late 1960s, and went berserk at the time.
That strata is subterranean, and they are still digging.
I sure as hell hope so..
.but there will be some cover up to prevent anyone from learning the truth about anything to do with “our” government or “anyone” associated with the left…so don’t hold your breath
“As the presidential attack on Goldman intensifies, will Obama wound some of his closest political allies?”
Or
Could Goldman be taking one for the team here? Helping their guy in DC – Obama – push through “financial reform” as a quid pro quo to get first shot at the cap and trade money? There seems to be at least some collusion between the White House and Goldman – Greg Craig hired by Goldman’s legal team for one – I can’t believe the three Democrats on the SEC board would attack such a close ally of their president.
Goldman has spent a lot of money to buy their own politicians, that investment was for a purpose. I have no sympathy for them either way.
Two more questions:
Why a civil lawsuit and not criminal charges?
Who at Goldman knew ahead of time about the SEC filing and did they short Goldman stock?
Hey Pajamas Media,
Are you aware that Maurice Strong is an executive director of CCX?
And check out what CCX says about this director:
“The Honorable Carole Brookins served from 2001 to 2005 as the United States Executive Director to The World Bank Group in Washington, DC. She represented the US government as the largest shareholder on the Board of Executive Directors”
It sort of sounds to me like the US Government has a financial stake in CCX.
http://www.chicagoclimatex.com/content.jsf?id=67
I am presently in litigation with Fremont Reorganizing, Goldman Sachs dba Litton Loan Servicing, et al., (2 different cases) for about 2 years now. The main issue with the complaint is a fraudulent loan originated by Fremont in June 2006. This in turn produced an array of other
issues: unsigned deed of trust, over billing issues, lost payments, excessive balloon payment, back dated assignments, illegal non-judicial foreclosure documentation, missing documentation, illegally reporting to my credit, falsifying declarations, 6 week TRO’s, court procedures not followed, judges wait until the courtroom is cleared to rule against a TRO (both times); retired (78 year old) judge ruled against a seated judges TRO where the retired judge took 30 minutes to read a 300 page brief. The whole time they have been ignoring my request and failing to give me the required documentation so that I can rescind the loan. Goldman Sachs dba Litton Loan Servicing has been aggressively trying to foreclose on my property. I believe to cash out for insurance reasons. (It’s over a million dollar loan) I have invested over $400,000 into this property for the past 5 years and if I had known about this mortgage meltdown game played by Wall Street I would have never proceeded with this Real Estate transaction. The Media and the Government has not once addressed or helped the borrower, namely me, who also has been damaged by these defaulted CDO’s.
A Time line of what’s going on with Goldman Sachs to show how they are scheming to pursue foreclosures for the insurance by acquiring distressed, shelled fraudulent companies which will eventually or haven’t already gone BK…
Oct 26, 2005 Litton Loan Servicing Class Action – mishandling loans, servicing over 400,000 borrowers – case settled Feb 17, 2009 for $537 (limited due to class status)
Feb 27, 2007 FDIC Cease and Desist – Fremont Reorganizing for illegal loan practices, et al., (largest predatory lenders who heavily solicited brokers for their schemes)
Oct 16, 2007 Massachusetts Lawsuit vs Fremont and Goldman Sachs – Predatory Lending Practices – settled May 11, 2009 for $60 mil
Dec 11, 2007 – Goldman Sachs Acquires Litton Loan Servicing
June 2, 2008 Litton (Goldman Sachs) Acquires Fremont Reorganizing Servicing Rights
June 19, 2008 Fremont Reorganizing files BK
Apr 16, 2010 – SEC vs Goldman Sachs – Securities Fraud
Here is the link to my blog http://bushnellcomplaint.blogspot.com/ if you want to download court documents pertaining to my case.
Note: My wife is pursuing individuals who are interested in joining her in a class action lawsuit with regards to violation of her community property rights in a wrongful foreclosure. If you are in a community property state and a spouse is not on title you may have grounds for legal action.
Check into Todd Stern’s (United States Special Envoy for Climate Change) connections
The AGW political/financial scam has been exposed thanks to the release of the emails. The socialist frauds that inhabit the IPCC, MSM, academia and government have no credibility left. We must make the socialist democrats pay a heavy political price in the next elections for funding this scam and ripping the american taxpayers off to the tune of 70+ billion dollars.
we are being sold. i am embarrased that i voted for this sham.