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Sandor got Obama nod on seed money for cap-and-trade model
A Brooklyn-born economist who gave up teaching at the University of California at Berkeley in 1973 to trade the first Treasury-bond futures is getting his way with the biggest change in U.S. environmental policy in 20 years. And he has an unwitting ally from Chicago.
Legislation to let polluters buy and sell carbon-dioxide emissions like pork bellies is the outgrowth of that economist, Richard L. Sandor. He founded the Chicago-based network known as Chicago Climate Exchange, which started six years ago with $1.1 million of seed money from the citys Joyce Foundation.
At the time, the foundations board included a little-known state senator named Barack Obama. Now President Obama is determined to enact Americas first limits on greenhouse gases.
In a belated recognition that Chicago-style pragmatism may prevail in the battle between business and environmentalists, Sandor, 67, finds himself working with Henry Waxman, the California Democrat who has taken on everyone from drug makers to the tobacco lobby in three decades in Congress.
The original bill that Waxman sponsored, the cornerstone of Obamas environmental agenda, began
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