David

PS: 13 of the 85 billion of public money that was used to save AIG (policy created by finance Minister Paulson – also ex GS) was directly forwarded to GS, as their risky subprime portfolio had been insured there. In classic Fox news style: http://www.youtube.com/watch?v=F3AlFe8l4OE – surreal to see them attack rich people for a change.

Mr Blankfein’s earlier claim he plays ‘the role of God’ already was prove of the banks disdain.
On top of that he showed no dignity whatsoever during Levin’s interrogation.

I’m afraid that this is the fate of a large portion of the “green revolution” You can underwrite all of the bonds, then you can package them and retranche them, and then retranche them again, and then sell them to investors and hedge funds and to institutional funds. But, if the underlying assets are of questionable economic value, then well, think sub-prime mortgages.

Just because a bunch of crap can be underwritten, doesn’t make it economically viable. Windmills, solar panels, ethanol, biomass and the like are not yet economically viable. If they were, the would not need any government “stimulus.” If they were economically viable, they could compete with no government subsidy. As of yet, they cannot. It still costs about 6+c/kw hr. to produce electricity with a windmill. A coal fired generator costs only about 4c/kw hr. this 50% difference in cost has been made up only by significant government subsidy.

We have also discovered that the turbines seem to fail at a frighteningly high rate, such that they are out of production when we need them.

No one in this administration has even said the first word about atomic fired power plants, which when built and when we account for decommissioning and storing spent fuel rods produce electricity at about 3c/kw hr and have no emissions. Why subsidize loser technologies when cheap, winning technologies are readily available?

Ethanol is another renewable scam, taking more actual energy to produce than the end product gives off. Plus, it takes roughly 4 gallons of water to produce 1 gallon of ethanol. In places where corn is grown in abundance, water is a big issue and most states with water issues don’t wish to waste their precious resource on another losing technology.

Supporting GM’s Volt project….well this is another bit of inanity. Plugging in a car is a great idea. Yet, remember all of the electricity that we need to produce to generate enough juice to repower the batteries? Where will it come from? Perhaps all of the subsidized windmills and solar panels. Well, here’s a newsflash. Americans don’t want to overpay for a technologically advanced car that doesn’t give them the amenities that they want…..size safety, comfort and convenience. If they want a spartan car whose principal benefit is good mileage, well they’ll buy a vehicle from a company that understands and takes seriously the business of making such cars: (honda, toyota, hyundai, nissan) Every attempt at making such cars by the US producers has resulted in losses for those producers. In this case, losses for the taxpayers, since we as citizens effectively own GM. I think that President Obama will have a great deal of credibility on this issue when HE himself uses one for the presidential limo.

Additionally, the President decided to have a Pizza party (a good thing for him to have) and ordered Pizzas from a restaurant in …….St. Louis. If we have a shortage of oil, the president needs to show it by not wasting that oil on pizza orders from 1/2 way across the country. I’ve been to DC and there are many fine Pizza places there where the president could have ordered from.

The “green new deal” is basically a sham. Investments in companies and bonds will only end up breaking your heart.
Buy soap companies, food producers, and pharmaceutical companies. You’ll likely be much happier with your investments.

Best Wishes

David Umlauf

Allen Taylor