Pelosi no longer doing any heavy lifting for Obama

[w¡n9Nµ7 §£@¥€r 123]

Great posts, scandal!

[JohnSmith2007 353]

No, it does not sound fishy to me, nor does it sound like a Ponzi scheme. It also apparently seems perfectly legitimate to themember firms of the CCX who are trading in a currently voluntary (yet legally binding) exchange . You know - some little no-name companies you've probably never heard of like Ford Motor, DuPont, Dow Corning, Sony Electronics, Cargill and Monsanto. The concept is to efficiently exchange what you want with what the other guy has, or vice versa. It's the same basic dynamic that works in any market. It works for things as diverse as interest rate spreads and index future options, and it works for emissions too. This isn't theory - this is practice. These firms are active participants along with the traders, speculators and hedgers every single day. What C/T legislation would do is to make the system mandatory rather than voluntary. That will deepen the liquidity, no doubt, but it's not needed to justify the basic concept that an emissions exchange can work.

Sorry, not buying it. If the goal is to reduce something don't enable people to make money on it. When you do they will find a way to continue to make money on it.

[JohnSmith2007 353]

As with anything someone can make a buck over this is no different. Trading in something we want to reduce or eliminate to "save the planet" is a sure way to have it forever.

Australian firm linked to PNG's $100m carbon trading scandal

http://www.smh.com.au/environment/australian-firm-linked-to-pngs-100m-carbon-trading-scandal-20090903-fa2y.html

Indians make cool £300m in carbon farce

http://www.timesonline.co.uk/tol/news/uk/article1687531.ece

"Recycled" carbon credit scandal sparks price slumpPrice collapses to €1 as previously surrendered CERs surface on European exchange

http://www.businessgreen.com/business-green/news/2259761/recycled-carbon-credit-scandal

[scandal 951]

Great posts, scandal!

It's all a nefarious plot to convince you that you should join me in buggering the sheep.

[w¡n9Nµ7 §£@¥€r 123]

i appreciate the spirited (and, IMO, effective) defense of wall street in your posts. they get a bum rap around here and are regularly derided as "not doing real work" simply because most don't understand what they do.

[I AM NOT THAT GUY 5,715]

i appreciate the spirited (and, IMO, effective) defense of wall street in your posts. they get a bum rap around here and are regularly derided as "not doing real work" simply because most don't understand what they do.

Bookies, right?

[scandal 951]

i appreciate the spirited (and, IMO, effective) defense of wall street in your posts. they get a bum rap around here and are regularly derided as "not doing real work" simply because most don't understand what they do.

Sure. I get that. I learn new stuff about trading and the markets all the time, and I've been in this business for over a decade in varying roles and occupations. I think market theory and history is fascinating, personally. I'm reading Leo Melamed's new book right now "For Crying Out Loud" about the conversion of the Futures markets from Open Outcry to fully electronic. I get off on stuff like that.

[w¡n9Nµ7 §£@¥€r 123]

I get off on stuff like that.

And sheep.