US carbon market worth $60bn in first year: CBO

http://www.pointcarbon.com/news/1.1134273

According to a new analysis by the Congressional Budget Office, the Waxman-Markey Climate Change Legislation currently moving toward passage in the U.S. House would create a $60 billion dollar carbon market in the U.S. Sixty billion dollars chasing carbon dioxide reduction. It reminds me of the great housing finance ideas of the past 10 years that led to our cuurent economic crisis.

Now the same politicians that helped to create our current crisis, prodded along by environmental and business interest groups, want us to trust them on this new money machine ponzi-scheme.

That would be a mistake of terrible propostion.