When he wasn't busy helping create a $127 billion mess for taxpayers to clean up, former Fannie Mae Chief Executive Officer Franklin Raines, two of his top underlings and select individuals in the "green" movement were inventing a patented system to trade residential carbon credits.
The patent, which Fannie Mae confirmed it still owns with Cantor Fitzgerald subsidiary CO2e.com, gives the mortgage giant a lock on the fledgling carbon trading market, thus also giving it a major financial stake in the success of cap-and-trade legislation.
Read more at the Washington Examiner: http://www.washingtonexaminer.com/opinion/columns/Fannie-Mae-owns-patent-on-residential-_cap-and-trade_-exchange-91532109.html#ixzz0mSh8LNaE
So, we ALREADY have a carbon-exchange, cap & tax system going on.....
What are your thoughts about this? It just makes me trust Congress even less than I did before I read this.
Answer by itsmesteph11 at 8:53 AM on Apr. 29, 2010
Answer by Anonymous at 1:10 AM on Apr. 29, 2010
Makes me want to puke.
Thank God the whole mess is "fledgling"!
Answer by mustbeGRACE at 8:36 AM on Apr. 29, 2010
Answer by NotPanicking at 8:44 AM on Apr. 29, 2010