Straight-up CO2 tax-with 100% rebate is the only policy move that keeps the loot out of the hands of the traders and the plutocrats. Of course the politicians will consider it their money but at least they can be hunted for sport.
From the Globe and Mail:
Prosecutors raid Deutsche Bank headquarters as carbon probe widens
State prosecutors searched offices of Germany’s biggest lender, Deutsche Bank, on Wednesday in a widening probe linked to a tax evasion scheme involving the trading of carbon permits.And from Reuters:
Frankfurt public prosecutors said they were investigating suspicions of severe tax evasion, money laundering and obstruction of justice against 25 bank staff and had arrested five of them.
Around 500 police and tax inspectors searched Deutsche Bank premises and private residences in Frankfurt, Duesseldorf and Berlin, prosecutors said in a statement.
Tax inspectors clutching backpacks and suitcases were seen leaving Deutsche Bank’s headquarters in Frankfurt, where about 20 police minibuses and two large coaches were parked outside.
Eight policemen wearing dark blue overalls and armed with handguns were stationed in the lobby.
In October, a financial source familiar with the matter said Deutsche had suspended a handful of employees after it was criticised by a judge last year during a trial into tax evasion on carbon permits. It was unclear when the traders were suspended....MORE
Deutsche Bank co-CEO drawn into widening tax evasion probe