JOHN ROSKAM: Early casualty to climate - The Geelong Advertiser

n America, Lehman Brothers was well-known for a few other things. Former chief executive Richard Fuld was a major donor to the Democratic Party. And his firm was a major spruiker of global warming alarmism. For Lehman Brothers, global warming was a means of making money. The firm promoted trading in carbon credits via an emissions trading scheme.

In the wake of his firm's bankruptcy, Fuld was summoned to the Congress and asked to explain how it was he appeared to have collected paychecks of US $480 million over the last decade. What Fuld could have been asked, but wasn't, was how much extra he would have made if the United States Government had followed Lehman Brothers' urgings and established an emissions trading scheme.