The American Spectator : The Spectacle Blog : Whooda thunkit: Enron-created scheme inherently invites fraud

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The Spectacle Blog

Whooda thunkit: Enron-created scheme inherently invites fraud

By Chris Horner on 1.4.10 @ 9:39AM

So, the Telegraph reports that "the very nature of carbon credits makes them 'an incredibly lucrative target for criminals', Rafael Rondelez, who was involved with the Europol investigation, has warned."

Get used to it.

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Pingback| 1.4.10 @ 10:15AM

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…Button to your Blog or Web Site. WordPress Web Sites 1 Shortened Links Linking to the spectator.org page http://bit.ly/6EPItM info 2 tweets tweet The American Spectator : AmSpecBlog : Whooda thunkit: Enron-created scheme inherently invites fraud spectator.org/blog/2010/01/04/whooda-thunkit-enron-created-s – view page – cached So, the Telegraph reports that "the very nature of carbon…

Sean| 1.4.10 @ 10:46AM

The whole thing is a fraud so what do you expect.

Dean| 1.4.10 @ 1:25PM

Who couldn't see this coming. My favorite part from the articl though was this: "This organised criminal activity has even "endangered the credibility" of the current carbon trading system, according to Rob Wainwright, the director of Europol. "

What credibility could their be in trading air?

Cara Ellison| 1.4.10 @ 7:11PM

For the record, Enron never traded carbon credits. It had planned to, but it was such a very teensy aspect of the business - and it was never implemented - that it hardly mattered at all. After Enron's collapse, it became easy to blame Enron for this scheme.

Enron wasn't scamming anyone by coming up with the market for carbon credits. It was taking advantage of an idea that was just coming into public consciousness. Today, Goldman has the market on carbons, but that doesn't mean Goldman is corrupt.