Having spotted a very familiar format in carbon trading, I remembered an article I read on the fall of Enron, who wanted to hide a huge loss by inventing future profits for the following year and hoped to make up the difference so by the time the year had completed the trick would not be noticed. Once the immediate problem appeared to have been solved, they realised it was just as easy to keep the system going as it gave the impression they were making money from nowhere and was attracting lots of new investment.
Basically they used a newly coined scam called 'energy credits', where to simplify something which was only a smokescreen anyway, it made people believe they had future profits to collect based on a complex formula they used to confuse people enough to take them in. As it was on such a huge scale it wasn't possible to hide it forever, but once the nakedness was apparent there had to be a fraud trial where for a rare example (along with Bernie Madoff) the board went down for a long stretch. But before this revelation, Ken Lay, the CEO, had a meeting with President Clinton and VP Gore on how to raise money from energy usage, and suggested their own system which had been working very successfully in the private sector. As with Corleone, the proven fraud of energy credits is now legalised as carbon trading. Fancy that.
Like Capone, although so far nothing has even been tried let alone tested, the closest Al Gore got was a hearing on the topic, where he used the ancient defence of amnesia, a full and total exoneration for all offences without a direct witness. Gore testimony