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Collateralised emissions obligations (view source)
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{{a|myth|{{fwmd|Emissions allowance|}}}}[[Collateralised Emissions Obligation]], an apocryphal transaction type that did not, but had it existed, surely would have, precipitated a global financial crisis, as [[Carbon trading|carbon traders]], hopped-up on absurd amounts of [[synthetic alpha]] blew up not just the financial markets but the entire planetary ecosystem with their leveraged bets on the squirrely commitments of G20 nations to act on climate change. | {{a|myth|{{fwmd|Emissions allowance|}}}}[[Collateralised Emissions Obligation]], an apocryphal transaction type that did not, but had it existed, surely would have, precipitated a global financial crisis, as [[Carbon trading|carbon traders]], hopped-up on absurd amounts of [[synthetic alpha]] blew up not just the financial markets but the entire planetary ecosystem with their leveraged bets on the squirrely commitments of G20 nations to act on climate change. | ||
“A five-times leveraged derivative of hot air!” traders would chortle, selling these things out to the most vulnerable and credulous people in society: hospitality workers, the | “A five-times leveraged derivative of hot air!” traders would chortle, selling these things out to the most vulnerable and credulous people in society: minimum-wage hospitality workers, the elderly, the infirm, the illiterate and regional German ''landesbanks''. | ||