Open Left

The banks, oil, money, cap n trade = new disaster

Obama's failure to take on the banks leave them in a  position to destroy cap n trade as an environmental solution, skyrocket our utility bills, and make Obama lose in 2012.

As you recently pointed out, the NY investment  banks (so-called, in reality huge trading/betting parlors) are poised to jack up future cap n trade prices. This will lead to much higher utility bills, a harm that will hit every household in the US and destroy any faith the electorate has in the Obama presidency. We see what the banks are up to with oil prices. Demand is way down and prices are way up due to their speculation on future prices plus their deliberate creation of volatility, which traders/gamblers love.

Obama's coddling of the investment banks will be his undoing.

Once again, Golman Sachs 10, the USA 0.

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by: Citizen0 @ Mon Jul 06, 2009 at 12:36:40 PM CDT