Rogue trader in $38.6 billion 'green jobs' fraud

Telegraph
"The fraud appears to have centred around an arcane taxpayer-swindling system first devised by Kenneth Lay of Enron known as "Clean tech" or "green jobs." B.O. – who joined the bank in January 2009 – is believed to have persuaded colleagues and shareholders that he could boost the institution's flagging profits by spending $38.6 billion on a "loan guarantee program" for clean tech start up companies. He also claimed that in the process he would create "65,000 jobs".

Correctly anticipating that in the open market no one would actually want to buy such overpriced, economically inefficient energy as solar or wind, B.O. hit on the ingenious scam of ramping up demand by spreading misleading rumours. He persuaded high-placed friends at institutions including NASA, the EPA and the IPCC to promote junk-science data grotesquely exaggerating the dangers of carbon based energy and the benefits of "renewable" energy. BO then poured sums of up to half a billion dollars into Ponzi schemes – aka Green Tech – run by sympathetic friends."