Lehman Brothers Close Ties to Gore, Hansen and Carbon Trading 

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Lehman Brothers Close Ties to Gore,
Hansen and Carbon Trading 

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18 Sep 08 – Excerpts: “Al Gore’s carbon trading business GIM was banked with Lehman Bros. It will be interesting to see how this will play in the future but I suspect that this increases the risk of participating in Carbon Trading. Merrill Lynch was also deeply involved in this business.

“Last year Lehman Brothers released a long and highly publicized report about climate change in which they preached about decarbonization, trying to make their investors in an attempt to insure high profitability from the Kyoto carbon trade scheme and the support of huge public subventions. All that, of course, with the applause of the usual choir of politicians, the entire media and the Greens.

“At the time the report was released, Lehman’s bankruptcy was approximately one year into the future. Of course they didn’t predict it. So, imagine the folly of trying to forecast the weather one hundred years into the future and shifts in societal trends. Thousands of green militants have been using the Lehman report as a proof of global warming and impending chaos. Lehman Bros said it! Sacred words! Its scientific advisor is James Hansen! The report is the basis for policies on climate change in Spain, Argentina and several other countries playing the progress game; it is used by economy professors playing the climatologists; by newspapers editorials, and even by a State Secretary: Lehman Bros, said it!

“Lehman Brothers spoke in his report about the climate in 2100 and its economic and financial projections, about climate change costs several decades away. They dared to recommend their investors what they considered a central value of the carbon ton in 50 years from now. Their sources and support references were taken from the IPCC AR4, AR3, and so on. Really impressive.

“But even with their high ability to peek into the future, they couldn’t predict their demise one year ahead though there were many people that had been warning about the current fiasco on Wall Street for years. But Lehman Bros were recommending investments 30, 50, 100 years ahead. Some days, reality imitates fiction. Who was Lehman Bros’ ‘scientific’ adviser on climate? You guessed it, James Hansen, the same guy that wants to drive the world to bankruptcy as he did with Lehman’s Bros.”

See entire article at http://www.icecap.us/
Thanks to George W. Fitzsimmons for this link

 



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