Skip to comments.Disgraced Fannie Mae deep in carbon scheme
Posted on 06/26/2010 10:55:50 AM PDT by opentalk
With the Obama administration pushing for cap-and-trade legislation, former Clinton and Obama adviser Franklin Raines has positioned the government-sponsored mortgage giant Fannie Mae to make millions by selling carbon credits from American homes.
Two patents applied for by Raines as one of several "co-inventors" Nos. 6904336 and 7133750 create a "method for identifying, quantifying, and aggregating reductions in residential emissions into a tradable commodity." The patents are identically titled "System and Method for Residential Emissions Trading."
The idea appears to be for Fannie Mae to create "Collateralized Carbon Obligations," or CCOs, by utilizing a methodology similar to its system for combining individual home loans into Collateralized Loan Obligations, or CLOs.
The patents give Fannie Mae the methods for identifying and measuring energy savings in homes that can be packaged and sold to carbon polluters as credits on a carbon exchange.
(Excerpt) Read more at wnd.com ...
Gawd, I hate these fricking crooked leftists. When is this nightmare ever going to end???
Unfortunately I don't recall all the details on this one, but the idea was that they'd worked up some sort of deal using an "outsider" somewhere who would contract to work with USPS for a percentage of the cost savings benefit from ideas he'd implement that were actually gathered together by those two managers on the inside who were supervising the contract.
Then they'd split the profits.
As I recall they all ended up in a federal prison ~ maybe they'll get out someday!
This deal with carbon credits reminded me of the postal scam ~ and it's not because it was so similar ~ more like IT'S THE SAME SCAM ~ BUNCO is one of the applicable terms.
We have some serious laws against this stuff!
“Disgraced Fannie Mae deep in carbon scheme”
They had the good intention of keeping their accounting in the carbon.
Same as ever, same as any schoolyard bully, get right up in their butt ugly face, sure you might take a few hits and it may hurt, but you'all find they really can't fight near as well as they thought they could.
Glenn Beck covered this a couple of weeks ago when talking about crime INC..
There will never be a prosecution of these Leftist scam artists inside the RAT circles. That is, with the government as it currently exists. It would take a profuse flushing of all ranks to allow bringing such charges to the forefront.
By all rights, they should be excused from "service" given their numerous and prolific conflicts of interest.
I was a bit alarmed until I saw the source: WorldNutDaily. Honestly, they’d have more credibility if they went back to reporting on UFOs and the Y2K scare.
All more reason to petition the government to declare CO2 a non pollutant.
Set my CO2 Free. No cap and trade.
Too late. Obama already gave the EPA the right to regulate CO2, bypassing any Cap and Tax bill. Now these jokers want to make $$ off of carbon exchanges which are just like indulgences from the Catholic church. Only now it is the AlGore-Church-of-Global-Warming that will issue the indulgences, if you pay up big time. The ultimate in scam artist, when they can get you to pay for what you exhale and cannot be seen. The guys are criminals and NO ONE is standing up to them.
The idea appears to be for Fannie Mae to create "Collateralized Carbon Obligations," or CCOs, by utilizing a methodology similar to its system for combining individual home loans into Collateralized Loan Obligations, or CLOs. The patents give Fannie Mae the methods for identifying and measuring energy savings in homes that can be packaged and sold to carbon polluters as credits on a carbon exchange.If it's my house, and my mortgage, it would be my credits. Thanks opentalk.
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