Just when you think the fictional economy cannot get any worse, we get this. The Cap & Trade is based on a new derivatives market. Oh gee! Just what the nation needs, yet another fictional mathematics market so a few traders can put the entire global economy at risk!

The banks are preparing to do with carbon what they’ve done before: design and market derivatives contracts that will help client companies hedge their price risk over the long term. They’re also ready to sell carbon-related financial products to outside investors.