Sun 2010-07-25 16:55 EDT

Carbon trading a front for money-laundering: experts - Hindustan Times

Agence France-Presse

Organised crime gangs are using carbon emissions trading schemes as fronts for money-laundering,experts warned on Friday. The experts who attended a meeting of the Asia Pacific Money Laundering Group (APG) said crime syndicates are resorting to new methods to hide their illegal proceeds. One "issue that we've looked at closely is money laundering associated with carbon emissions trading schemes", APG executive secretary Gordon Hook told a news conference after the five-day meeting. Hook did not elaborate on how crime syndicates were using carbon emissions trading schemes to launder money...

Carbon Trading; experts; front; Hindustan Times; money laundering.

New Deal 2.0 Sun 2010-07-25 16:20 EDT

Will Criminals Exploit Cap and Trade?

Marshall Auerback

...the carbon trading proposals embodied in the Obama Administration's cap and trade proposals are misguided. Money laundering is very easy when you have an opaque pricing structure with little in the way of regulatory protections. It's the environmental equivalent of credit default swaps. Worse, the cap and trade system doesn't work...Carbon Trading Schemes amount to nothing more than a privatization of the atmosphere...the criminals can have a field day...

0; Criminals Exploit Cap; new dealing 2; trading.

Culture of Life News Mon 2010-01-04 16:52 EST

The Horrors Of The Carbon Trade Derivatives Beast

Elaine Supkis

There are many ways of fixing things. Using the right tools is important. The international bankers have chosen a very nasty tool for fixing both global warming and dealing with the Hubbert Oil Peak: wild derivative futures markets modeled on the goofy OTC --CDS market! The thing that just destroyed international banking. We mustn't forget that the reason we had a banking meltdown was due to the sudden climb in energy prices beginning with the invasion of Iraq.

Carbon Trade Derivatives Beast; Culture; horror; Life News.

naked capitalism Tue 2009-12-08 18:26 EST

Guest Post: Woman Who Invented Credit Default Swaps [Blythe Masters] is One of the Key Architects of Carbon Derivatives, Which Would Be at the Very CENTER of Cap and Trade

...If the government allows massive carbon derivatives trading with as little oversight as over the CDS market, taxpayers will end up spending many trillions bailing out the giant banks and propping up the economy when the carbon market bubble bursts...(1) the giant banks will make a killing on carbon trading, (2) while the leading scientist crusading against global warming says it won't work, and (3) there is a very high probability of massive fraud and insider trading in the carbon trading markets.

Blythe Masters; capped; carbon derivatives; center; Guest Post; invented credit default swaps; key architect; naked capitalism; trading; Woman.