Friday, May 15, 2009

The Folly of Cap and Trade

Tom Borelli of our Free Enterprise Project is warning against the folly of adopting cap and trade in a column in the recent issue of Power magazine:
When the housing bubble burst, it exposed an unseemly alliance between special interests and the financial sector. Activists wanted homes for all at any cost, and lenders were happy to oblige despite the inherent risk.

Although the economic devastation this bubble wrought is still not under control, a similar toxic alliance is working on the next one: The green bubble.

Failing companies such as AIG, General Electric, and General Motors, already propped up by tax dollars, have partnered with radical environmentalists in a scheme their CEOs believe will allow them to profit on fears about global warming...
Read it all here.

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Posted by Amy Ridenour at 6:09 AM

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