"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.." - Winston Churchill
Saturday, June 26, 2010
DISGRACED FANNIE MAE DEEP IN CARBON SCHEME: Mortgage giant set to collect millions marketing homeowners' energy savings. (Please STOP voting democrat)
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 system for combining individual home loans into Collateralized Loan Obligations, or CLOs.
The patents give Fannie Mae the methods for identifying and measuring energy savings in homes that can be packaged and sold to carbon polluters as credits on a carbon exchange.
Instead of selling the Collateralized Loan Obligations to institutional investors, including financial institutions and banks, the energy savings in thousands of U.S. homes would be packaged by Fannie Mae and sold as Collateralized Carbon Obligations on a carbon exchange, such as the Chicago Climate Exchange. The buyers would be carbon emitters who emit so much carbon dioxide they are required to buy carbon offset credits. READ MORE...
Collection of devastating excerpts from the Fannie Mae/Freddie Mac hearings before Congress in 2004. These excerpts from the hearings show the "willful blindness" and corruption that went into the Democrats continual support for these two criminal enterprises, and the efforts made by the Republicans to clean up what everyone knew was coming.
Please stop voting democrat.. See the below video of the 'mentally challenged' Speaker of the House Nancy Pelosi displaying her typical hypocrisy and ignorance.
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That sounds like one (or two) of those stupid "business method" patents that involve no technology, no science, no engineering, but just a way of doing business.
ReplyDeleteIn the Old West, these snake-oil salesmen would have patented the "grocery store" ("a method for providing merchandise to customers by means of an enclosure (Figure A, "Store"), comprising one or more entrance means (Figure B, "Door"), one or more transaction surfaces (Figure C, "Counter"), one or more storage capabilities (Figure D, "Shelf"), and a means of transferring material from the "Store" to the Customer").
Anyone who built one of these things would owe the Patent Holders a license fee.