I just came back from Europe and , and yes it is big scam talk everywhere in the papers , particularly old Eastern block countries doing under table deals...
"However, FoE fears that the area has been hijacked by speculators on the financial markets. Sarah-Jayne Clifton, the report's author, said: "The majority of the trade is carried out not between polluting industries and factories covered by carbon trading schemes, but by banks and investors who profit from speculation on the carbon markets – packaging carbon credits into increasingly complex financial products similar to the 'shadow finance' around sub-prime mortgages which triggered the recent economic crash."
