I think the amount of the fund number should be viewed as X number of Madoffs.
If the number is $500 billion that should read 10 Madoffs.
The whole event is a farce and at this point many politicians know they look like fools and many scientist know it too.
No countries will actually end up putting money in the fund. It is entirely a fraud like Madoff, with a comparable fabricated story behind it.
How many Madoffs will be announced at Copenhagen?