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May 22, 2008

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Jeff Trexler

Meanwhile, over at Wired . . .

This comment struck me as particularly revealing vis a vis the coming backlash:

No argument here about the parasites. There was a story on NPR last month called "Young, Green Entrepreneurs Flock to Carbon Market" (http://www.npr.org/templates/story/story.php?storyId=89424934 ). Hmmmm, kids with no experience exiting college for six-figure salaries in a "market" based on unenforceable promises between parties...what could possibly go wrong. After some of the jerkoffs they interviewed figure out how to create carbon credit-backed securities, I'm sure NPR will explain what happened 10 years from now when we're bailing out the banks they fool into investing in their schemes, and paying to do the actual cleanup this market was invented to prevent. One of the dudes they interviewed was actually gloating about how jealous his doctor/lawyer/investment banker friends are that he has such a "sexy" job. !smart.

Phil

Carbon offset trading backed securities to fund your pension plan anyone? Carla Dearing is a former investment banker, and no doubt a good one. Maybe carbon offset mission aligned investments for your foundation? We could have carcinogen offsets too. They dump poison into the water supply in Omaha and offset it by cleaning up a stream in Switzerland, next to their vacation home or corporate retreat. We could have social injustice offsets, where for every woman trafficked by a private contractor in Iraq we send one black kid to summer camp. You know, it takes a heap of education to make a real Fool, and a bit more to make a Knave.

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