Byron Dorgan said "the Wall Street crowd can't wait to sink their teeth into a new trillion dollar trading market in which hedge funds and investment banks would trade and speculate on carbon credits and securities. In no time they will create derivatives, swaps, and more for that new market. In fact, most of the investment bankers have already created carbon trading departments. They are ready to go. I am not." @ PoliticalQuotes.com

On the recordAugust 5, 2009

the Wall Street crowd can't wait to sink their teeth into a new trillion dollar trading market in which hedge funds and investment banks would trade and speculate on carbon credits and securities. In no time they will create derivatives, swaps, and more for that new market. In fact, most of the investment bankers have already created carbon trading departments. They are ready to go. I am not.

Said by

Byron Dorgan

Democratic · North Dakota

Source

congress.gov

Editor's note · Context

Dorgan warns about Wall Street's eagerness to exploit cap-and-trade for profit.

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