Derivatives &Climate Change, The Depletion Machine of the Middle Class?

[WhiskeyGirl]

Even the Europeans seem to get it...

What good ever came from derivatives?  A failure of the US "financial system" that somehow seemed to be linked to derivatives, greed, and stupidity?

The same folks that brought you derivatives, liar loans, and other financial weapons of mass destruction, are somehow going to lead us to salvation? 

It what world does this make sense?

Trillion Dollar Baby: Climate, cobras, carbon

by Luis Pazos

A successful implementation of the oligarchical collectivism

The economist who died in 2009 and Hayek-winner Horst Siebert has made his book of the same known him, known as Cobra effect. The Kobra effect vividly describes the classical mechanism of failed states, putting on the wrong incentives for action in the wake of second-and Drittrundeneffekte the original condition to be optimized in the truest sense of the word ultimately. The real historical background of the concept itself offers such vivid visuals. To domestic Kobra plague in India Lord to be praised by the British governor of a bounty for each killed and to the competent authority of a copy delivered on. In fact, even increased, as intended, the number of cobras delivered continuously, without nuisance in any manner limit the remedy for to let. No wonder was, but the population started to head Cobra premium sake to breed all about. Even professionally managed cobra breeding farms emerged as a result of viable political returns.

This sounds like the Obama Financial Reform.  No return to the Glass-Steagall act, but an action plan to ensure that future "to big to fail" companies get bailed out by taxpayers.  If you create a fund they will use it.  No need to risk their own money, taxpayers got their backs.  Create a taxpayer prop and more will need help!!!

...About 90 percent of trade on the European Climate Exchange in London and the Chicago Climate Exchange in the U.S. state of Illinois instead. Ownership of both stock exchanges in turn is the second largest derivatives exchange in the U.S., the IntercontinentalExchange (ICE), an even in New York traded stock company. The major shareholders of the ICE, the two Wall Street sizes Goldman Sachs and Morgan Stanley as well as the world's largest asset manager BlackRock, also based in New York. At least Goldman Sachs and Morgan Stanley also offer a holistic approach to consulting for corporate clients around the topic of CO2, put their own names or foreign bonds, funds, options and certificates on the.

Summary: The production and subsequent destruction of waste products by predominantly US-dominated businesses in low-wage countries, thus leads to the purchase of emission rights, which huge profit margins almost exclusively on U.S. stock exchanges will be sold to European customers with compulsory then.

Maybe someone is wondering why big profits are made on US stock exchanges?  The profits come out of the pockets of the working class?

more here - http://translate.google.com/translate?hl=en&sl=de&tl=en&u=http%3A%2F%2Fef-magazin.de%2F2010%2F09%2F01%2F2492-trillion-dollar-baby--klima-kobras-kohlenstoff

from the comments -

We see that the colleague is a graduate clerk. Such Leutz 'have not always the best reputation, but they come faster and closer to the (some economic, Marxists would say: material) core of the action.  Thank you for that!

As the EEG is that CO2-Certificates-swindle one thing: a gigantic rip-off, a depletion machine for the middle class.  But nice move on the crosses at CDUSPDFDPGrüneLinke, right?