“Cap-and-Traitors”: The Secret Behind a few Republican “YES” Votes
I just got off the phone with our our Congressional insider contacts who seem to be saying that the scuttlebutt on the Hill is that at the 8 Republican “Cap -and-Traitors” from New Jersey who voted for the bill did so as a political favor for the NY/NJ-centric commodity and stock traders (as in Cap and TRADE) who throw a lot of money around.
One angle not being covered in the mainstream press is that Cap and Tax relies upon the lethal combination that brought us the mortgage mess: Wall Street traders + government bureaucrats.
This fits, as one of the entities that helped develop the Cap and Tax trading scheme was ENRON, and the “carbon credits” that will be supposedly traded on the open market (after they are doled out by government bureaucrats, of course) will be bought and sold by investment banker types who hail from companies like Bear Sterns and Goldman Sachs, and…
…WAIT A MINUTE. The carbon credits that are at the heart of “Cap and Tax” are going to be handled by market traders connected with big Wall Street firms and investment bankers? Hmmm… if I could just get my hands on some carbon credits byu contributing to the right Congressman, maybe I could use them to pay my mortgage…
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