European Carbon Trading System Run By Mob

As you know, PresBo wants to implement a Cap & Trade system of carbon trading in order to curb carbon emissions and fight global warming. I think it is useful, therefore, to look at other such systems already in place to find out how they are doing.

It turns out, however, that the European Union (EU) carbon trading system is rife with fraud and almost completely controlled by organized crime.
http://pajamasmedia.com/blog/climategate-european-carbon-credit-trading-system-plagued-by-fraud/

The European Union’s flagship cap-and-trade carbon credit trading system is plagued by massive fraud and is effectively under the control of organized crime, according to a December 9 statement issued by European police. Europol, an EU-wide criminal intelligence agency similar to the U.S. Federal Bureau of Investigation, says bogus trading at the EU’s Emission Trading Scheme (ETS) has exceeded €5 billion (U.S.$7 billion) over the past 18 months alone. Europol says that in some EU countries, up to 90 percent of the entire market volume is fraudulent.

Coming soon to a country near you... courtesy of President Barack Obama and Congressional Democrats.