Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Fannie Mae owns patent on residential "cap & trade" exchange!!

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, 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:

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.


Asked by 29again at 12:57 AM on Apr. 29, 2010 in Politics & Current Events

Level 27 (31,176 Credits)
This question is closed.
Answers (4)
  • The Dems will do anything they can to get their agenda in place before November. You know Fannie and Freddie are just vehicles for more corruption. They say they will fix the problems at F and F after they get the finance reform done but you are sadly mistaken if you believe that. I say Republicans return to the party of NO because the Dems are power hungry and are out for permanent power. Everything they are doing is linked to future power. It may not happen this year of in the next 5 yrs but they will not stop till they have what they want. they have plenty of groups helping them out like teh labor unions, acorn affiliates and many more liberal groups that pop up every week.

    Answer by itsmesteph11 at 8:53 AM on Apr. 29, 2010

  • Now this seems like a very intelligent post; I don't know anything about this. I am happy to give my thoughts when I have learned more.

    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

  • Thank God the whole mess is "fledgling"!

    Yes and no. Originally it was getting bumped in line behind immigration, but now they've waffled again, and the senate says they'll hear cap and trade before immigration. They're also doing everything they can to avoid using the actual words "cap" and "trade" while referring to the bill. They're kind of screwed - they absolutely do NOT want to address immigration in any serious way during an election year, but they know cap and trade will put millions out of work. Whichever they do first, the ones up for re-election this year are handing their opponents a gift wrapped campaign ad.

    Answer by NotPanicking at 8:44 AM on Apr. 29, 2010