Monday, May 17, 2010

Dodd Financial Reform Bill Heads to Floor Debate with Carbon Derivatives Prohibition Amendment

Via K Street Research "40 More Amendments to S. 3217 (The ‘Dodd Bill’)" we find the Barasso amendment (SA 3920):
SA 3940. Mr. BARRASSO (for himself and Mr. ENZI) submitted an amendment intended to be proposed by him to the bill S. 3217, to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes; which was ordered to lie on the table; as follows:
On page ___, between lines __ and __, insert the following:

Notwithstanding any other provision of law, no person or corporation, limited partnership, trust, or affiliate of any such entity chartered as a for-profit or nonprofit entity shall be eligible to sell, purchase, or trade carbon derivatives as the result of the establishment by the Federal Government of a carbon market.

Oh my. Isn't that short and sweet.
Here's Senator's Kerry and Lieberman's 987 page discussion draft American Power Act.
The relevant section, Subtitle E-Regulation of Greenhouse Gas Markets, runs from pages 624 to 665.