Back in 2001 Ken Lay wanted to stave off collapse of Enron by getting trading in carbon credits started. Bush refused to go along, and Enron collapsed. Now it appears that the Democrats will finally get to institute the carbon trading scheme. This thing will make Fannie Mae and Freddy Mac look good. This is the most toxic commodity ever conceived. It is a great opportunity for rent seekers and other assorted knaves who love the opportunities for huge gains without doing much work, and nothing useful. For those who were awed by toxic mortgage instruments, credit swaps, and all of those other financial instruments that no one understands, you ain't seen nothing yet.

Here is an article discussing this impending scam:

http://network.nationalpost.com/np/blogs/fpcomment/archive/2008/11/07/lawrence-solomon-green-market-risk.aspx