* This April 28, 2010 post has since been revised, updated, and expanded with new developments in the ongoing Turnbull saga, in the following articles –
“Compassion For Malcolm – He Just Wants His Balls Back“
“Malcolm’s Motive: His ETS Lie Unravelled“
“Doing God’s Work – Turnbull An Angel Of Death Derivatives“
““Turnbull Once Said To Me, ‘You Capitalise On Chaos'””
“Spread The Word – ‘Untouchable’ Turnbull Is A Goldman-plated Turd”
“Malcolm Turnbull – The Goldman-churian Candidate?”
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The following media release by Barnaby just goes to show that he isn’t always right. There is plenty of evidence to strongly suggest the true reason why Malcolm Turnbull really “believed” in an emissions trading scheme.
Simply take the time to review the history of the HIH collapse. Consider the highly questionable role that Goldman Sachs Australia – of whom Malcolm Turnbull was chairman at the time – had to play in this, the biggest corporate failure in Australian history.
Consider the subsequent $500 million lawsuit brought against the key players in the HIH collapse… including named defendant Malcolm Turnbull.
Consider that only a few years after the collapse of HIH, even as those legal proceedings were being prepared, Malcolm Turnbull’s (again, questionable) takeover from Peter King as the Liberal candidate for the seat of Wentworth gave him a ready made entrance into Parliament in 2004. Consider his rapid elevation to the key role of … Environment Minister. Followed by the first suggestion that the Howard Government should adopt an ETS.
Consider the revelation only a short time later that then Opposition Leader Malcolm Turnbull was to be spared from appearing in court as a defendant in that $500 million lawsuit. Why?
Because his former employer Goldman Sachs had made a “confidential” settlement on his behalf.
Finally, consider which massive international banking power has been behind all the great bubbles in modern history – and is again behind the global drive for a new derivatives-based trading bubble, the likes of which the world has never seen.
It hardly takes a rocket scientist to put two + two together.
Malcolm Turnbull, the former Goldman Sachs chairman, named co-defendant, and beneficiary of a “confidential” settlement by his former employer, “believed” so strongly in Australia having an emissions trading scheme for a very good reason indeed.
But I personally harbour the gravest of doubts that “saving the planet” had anything whatsoever to do with it…
Media Release – Senator Barnaby Joyce, 28 April 2010:
“My heart actually felt for Minister Wong being dragged through the public teeth pulling exercise on radio this morning explaining that the Labor Party no longer has a carbon reduction scheme of any sort,” said Senator Barnaby Joyce. “In fact, it is now apparent that the only scheme likely to get up at the next election is the Coalitions as the Labor Party does not have a CPRS policy. Mr Rudd has yet again destroyed another one of his colleagues by revealing his lack of a political soul and his mercenary ambivalence that puts polls over statesmanship.”
“How can he possibly hold any credibility when he publicly denies the fundamental tenant of his political faith so illustriously espoused at the previous election? Mr Rudd has jettisoned the ETS as one would put aside a paper plate at a picnic.”
“One can now see that at least Malcolm Turnbull, although he had a view I fervently disagreed with on the ETS, was willing to put his job on the line because he believed it was right*. Likewise, Brendan Nelson. I don’t believe Tony Abbott is going to change his view to be in favour of an ETS because the polls say so, or Ron Boswell for that matter.”
“Mr Rudd is a philosophical soldier of fortune who chameleon like uses faux earnestness as a key tool of deception. He has made Peter Garrett completely recant all his former beliefs, he has handed Combet his ceiling insulation problems in a modern version of the ‘loaded dog’, and now he is piece by piece dissembling the belief structure of Penny Wong. Why? Because the poll monster told him to do so. Mr Rudd is a political bric-a-brac shop of kitsch philosophies – overpriced, under planned and dispensed at will.”
More Information- Jenny Swan 0746 251500
UPDATE:
Post reorganised to lead with Turnbull/Goldman connection, followed by Barnaby’s media release.
UPDATE 2:
Interesting. Less than a month after announcing his intention to retire from politics, Turnbull changes his mind.
Or should that be, has it changed for him.
(There are numerous anecdotal reports that Turnbull’s “overseas” trip was for a meeting with Goldman Sachs in NY)
UPDATE 3 – 19 May 2011:
h/t Twitterer wakeup2thelies –
@BarnabyisRight Thats a fantastic write up Head of CSIRO also Fmr director of Aus arm of of Rothschild 2001-03 resume http://bit.ly/mqpJx9
Barnaby Is Right 
Good work. Never came across the HIH connection before today.