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...