Goldman learned from the housing bubble that it could forego that risk by getting the U.S. government to take it for them. So, now Goldman is turning to Washington to do its bidding, specifically the Democrats in Congress and the White House that it expects to approve and sign cap-and-trade legislation. Democrats that Goldman has bought and paid for.
Taibbi writes that Goldman personnel — it’s not legal for the corporations, themselves, to make political contributions — donated nearly four-and-a half million dollars to get Democrats elected last fall. And the Center for Responsive Politics (CPR)’s OpenSecrets.org reports that almost a million of that went to the man who helped keep the Clima...

Goldman learned from the housing bubble that it could forego that risk by getting the U.S. government to take it for them. So, now Goldman is turning to Washington to do its bidding, specifically the Democrats in Congress and the White House that it expects to approve and sign cap-and-trade legislation. Democrats that Goldman has bought and paid for.
Taibbi writes that Goldman personnel — it’s not legal for the corporations, themselves, to make political contributions — donated nearly four-and-a half million dollars to get Democrats elected last fall. And the Center for Responsive Politics (CPR)’s OpenSecrets.org reports that almost a million of that went to the man who helped keep the Climate Exchange alive back in 2000 and 2001, Barack Obama.

In fact, Goldman was Obama’s largest private contributor and “was the biggest business donor to Democrats in 2008, according to a (CPR) report,


And Goldman wasn’t alone. According to OpenSecrets, investment and security folks shelled out $14,788,852 to Obama, while hedge fund personnel invested just over three million dollars on their man.


Overall investment and financial institution personnel donated $87,965,961 to Democrats, or about 57% of their total donations, a sharp break from years past [...]

These figures, of course, do not include donations made to certain PACS or 527’s or George Soros’s relentless efforts to get willing Democrats elected.

Taibbi accuses Goldman of riding from bubble to bubble, sucking all of the public’s money it can from each bubble before moving on to the next. With Goldman’s push for cap-and-trade, “now they’re preparing to do it again, creating what may be the biggest and most audacious bubble yet.”

Will Dems allow Goldman to manipulate a cap-and-trade market?