Do As I Say, Not As I Do

So says the world's largest emitter of greenhouse gases:

U.S. Treasury Secretary Henry Paulson urged China to drop tariffs on environmental equipment, saying trade barriers are hindering efforts to clean up a nation that has 16 of the world's 20 most polluted cities.

``There's something that doesn't seem economically sensible and morally right'' about charging a tariff on clean technology, Paulson said after his speech today on energy and the environment at the Chinese Academy of Sciences in Beijing.

The only things that are economically sensible and morally right in Paulson's book are those that make him and his buddies more money. See Bear Stearns, where American taxpayers will bear the brunt of their losses if they exceed $1 billion. Based on Tuesday's subprime loss league table, their losses will.