Since I posted the video from Annie Leonard, I have learned a few more things about “Cap-n-Trade”. So in fairness, I am going to provide another view.
The Facts of Cap-and-Trade from Clean Energy Works on Vimeo.
Ref: Clean Energy Works
In Fairness: The facts in support of Cap-N-Trade by Clean Energy Works
The main attraction to the CNT is that over the years we will be forced to reduce our emissions.
I think the biggest question about cap and trade is how effective it can be on such a global problem? Cap and trade worked perfectly on SO2 acid rain back in the 1990s because acid rain from SO2 was more of a local issue, so it was easy to measure success. I think it's not the worst way of dealing with climate change, but I prefer a direct carbon tax plus sequestration efforts a la Jim Hansen.