Guest essay by Eric Worrall
Democrat candidate Elizabeth Warren has stepped up efforts to discover new reasons to be outraged.
Warren calls on big U.S. banks for steps on climate risk
SAN FRANCISCO/WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren, a contender for the Democratic Party’s presidential nomination, is asking the biggest U.S. banks for details on their assessments of and preparations for risks related to global warming.
“To protect themselves and the economy from climate-driven catastrophes, large financial institutions must act quickly to address risks,” Warren, a frequent critic of big banks, said in letters sent on Tuesday to top executives at Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan, Morgan Stanley, State Street and Wells Fargo.
“I write to ask for more information about the risks caused by the climate crisis on the financial industry and your institution’s practices, including what steps, if any, your institution is taking to adapt to mitigate these risks,” she said in the letters, provided to Reuters.
She asked for detailed written responses by Feb. 7.
…
Read more: https://www.reuters.com/article/us-usa-election-warren/warren-calls-on-big-u-s-banks-to-disclose-preparation-for-climate-risk-idUSKBN1ZL1VQ
Warren has also demanded more anti-corruption investigations of President Trump, anyone who ever met President Trump, and probably anyone she doesn’t like who ever heard of President Trump.
The only investigation Elizabeth Warren has not called for is an examination of close family members of leading US politicians who received money from the Iranian Government, which might be because if US business links to Iran were investigated, Elizabeth Warren would face uncomfortable questions about her son in law.
Hopeless.
That’s also the plan.
Shouldn’t they also have plans for an asteroid impact? A general plan, and a special plan for an impact in Hollywood.
ROTFLMAO!
This is a farce. The banking system will collapse LONG before anything detectable happens to the Earth’s climate. Maybe they should plan for that instead.
Plan for a banking Collapse?
Greg they had a plan to CAUSE a collapse. It was The toxic mortgages created by Dodd/Frank to force banks to issue subprime equity based mortgages to unqualified buyers and then repackage the junk mortgages into REITs after passing them Off to Fannie Mae and Freddie Mad.
Personally I don’t think they planned to collapse the banking system, its just that these Morons, that we know affectionately as Swamp Creatures, are too stupid to understand what kind of damage they are capable of because they don’t know their poohole from a hole in the ground.
To say nothing of nuclear war, pandemic, super volcano, solar flare etc. Our benign unremarkable climate shouldn’t even be on the list.
“I write to ask for more information about the risks on the financial industry and your institution’s practices, including what steps, if any, your institution is taking to adapt to mitigate the risks of Elizabeth Warren becoming President,” she said in the letters, provided to Reuters.
If an asteroid impacts Hollywood, the plan is for a BBQ on the beach and an immediate upward revision of the average US IQ by 25 points.
Dear Ms Elizabeth Warren,
Thank you for your inquiry. Here is our bank’s climate risk plan:
“The full IPCC report is an admirable description of research activities in climate science, but it is not specifically directed at policy. The Summary for Policymakers is, but it is also a very different document. It represents a consensus of government representatives (many of whom are also their nations’ Kyoto representatives), rather than of scientists. The resulting document has a strong tendency to disguise uncertainty, and conjures up some scary scenarios for which there is no evidence.
Science, in the public arena, is commonly used as a source of authority with which to bludgeon political opponents and propagandize uninformed citizens. This is what has been done with both the reports of the IPCC and the NAS. It is a reprehensible practice that corrodes our ability to make rational decisions. A fairer view of the science will show that there is still a vast amount of uncertainty — far more than advocates of Kyoto would like to acknowledge…”
– Dr Richard S. Lindzen, Sloan Professor of Meteorology (retired), MIT
Scientists’ Report Doesn’t Support the Kyoto Treaty
Wall Street Journal, June 11, 2001
http://eaps.mit.edu/faculty/lindzen/OpEds/LindzenWSJ.pdf
Accordingly Ms Warren, we conclude that there is no real catastrophic human-made global warming or climate crisis. Should we encounter extra-cold or extra-hot days, we will give our employees the day off and provide them with essential necessities, including hot toddies or cold beer. That is our climate risk plan.
While we appreciate your inquiry, our bank would sincerely appreciate if you would concern yourself with real societal problems, both domestic and international, and not waste our time carping about “scary scenarios for which there is no evidence”.
Yours truly,
______________________________________
“The Friendly Bank”
That is a brilliant response, if only just one of them would have the balls to use it. Stand up for themselves for once just like Coca cola did in refusing to stop using plastic bottles for economic reasons.
Should they all have to post exigency plans in the case a Loonacrat gets elected?
She’s done anyway. Interesting question: If Bernie seems headed for victory as Biden collapses in a heap of corruption, will the Dems embrace Bloomberg?
We already know what Bernie Bros have planned for billionaires: breaking rocks in the gulag. Since most billionaires seem to be Dems, perhaps they will switch to Bloomy.
Only problem is Bloomberg doesn’t need more deep pocket donors, he needs more grass-roots-throwback-hipsters to jump on board
Sounds likely.
I would immediately sit down and draft a response spelling out how the respective financial institution is/would be affected by Climate mitigation regulations and what negative affect potential carbon fees and probable GND Wealth Transfer Schemes would have on future Returns on Investments. Making certain to include sections on how the economy will continue to be negatively affected by increasing energy costs associated with mandated use requirements for unreliable/intermittent/weather-dependent energy sources.
Bryan A: Very good suggestion. Unfortunately, bankers are more likely to focus-group with climate activists to find out which apology will cost the least.
On another subject, amazing you found a pic of Liz when she’s not hectoring some bernie, errr somebody. What does it say about her that she’s hypersensitive to being called a liar? That she KNOWS it?
If I was an owner of a Big Bank, I would write back and say to Elizabeth: “What climate crisis?” But that’s just me.
This is Warren’s governing style: Demands. She is an authoritarian behind that not-very-effective mask she wears. Corporations are right to be wary of her.
Love that last sentence, explains some of the outrage from the Dems re Suliamani’s demise.
Elizabeth Warren in her prose of – “You have money, I demand you spend it the way I want.”
Banks have money, most of it is ours.
A grumpy grandma in the White House. What’s not to like?
Can we have our little ice age temperatures back granny pleeeeease ??
I’m not a big Trump fan, but I hope he wins next year to help save us from morons like Fauxahontas.
They have something in common, they say the darndest things.
If even half the things President Trump said at Davos are true, he’s a better friend of the working person than any lying betraying Democrat.
Solemn Democrats on their procession to deliver articles of impeachment to the senate (and Warren).
Oh my. She even set a deadline of February 7 for their detailed responses. She is obviously a very important person in her mind.
Elizabeth Warren has apologized to the Cherokee Elders for claiming to be a Cherokee Indian. She claimed DNA proof to be 1/1000 part Cherokee. The great-great-great-grandfather of Elizabeth Warren was not married to a Cherokee but actually rounded up the Cherokee in Georgia, North Carolina and Tennessee to set them on the tragic ‘Trail of Tears’.
Elizabeth Warren’s latest loonie calls for the big U.S. banks to step up action on climate risk are even less credible or well-founded. If Elizabeth Warren was not one of the Democrat Untouchables, little men in White Coats would now be quietly escorting her off-stage,
Reparations might call for her scalp.
Her fear of [political] climate change is palpable.
Uhm, Elizabeth,
These institutions are bankrolling the monetzation of atmospheric gases.
The point is to make money from a non-crisis, silly, Fauxahontas.
https://phzoe.wordpress.com/2019/12/25/why-is-venus-so-hot/
https://phzoe.wordpress.com/2019/12/24/hot-plate-heat-lamp-and-gases-in-between/
Desperate hyping of the propaganda in the face of Trumpageddon. The Dems know they have to get those signatures to enforce climate lies- have them enshrined in legislation to escape the truth ever being revealed.
As for the banks, it is a waste of resources having to plug in false figures to create a fairytale story to fit the warmist agenda to in turn fit with the Dems political agenda which is based on lies and deception.
Is she referring to changes in long term weather trends or catastrophic changes in the political climate that she is determined to cause?
Just checked. Warren does sit on the Senate Banking, Housing, and Urban Affairs Committee (which gave us forced subprime lending and the 2008 mortgage disaster). But, she is not even the ranking minority member. So has NO authority to issue such a unilateral demand letter.
The banks answer to her demands should be to pound sand.
She should provide her own money to develop these plans. I understand that she has no authority over the Cherokee Nation money. (Or over my money).
Uh Lizzy darling … How to put this gently. You may want to look into “geographical redundancy”. Just saying.
There have always been weather related disasters, they were and will be tragic.
However, Warren is depending on the gullible to believe that floods, wild fires, earthquakes etc in the news are new events with frequency and severity rapidly escalating.
Currently banks are not expected to provide “disaster plans” for extreme weather. Even if they were to bow to Sen Warren, they should only be asked to plan for events beyond what has been experienced in the past and which are the result of Climate CHANGE.
Miami was built almost 100 years ago below king tide. Granted it is sinking, but I think the residents and the banks can figure our how to cope with small fractions of an inch per year. (They can always ask those in the Netherlands.)
Banks should have disaster plans in place for the more likely event of her election.
Yes, that’s the worst case scenario. Thankfully, an unlikely outlier.
she’s going for the under 18 vote….
The Democrats already have the post biological vote locked up.
Banks: “Climate Disaster Plan? Lock the vault until given the all clear. It’s waterproof, fireproof, blizzard-proof, and tornado-proof. However, it’s not goof-proof, so don’t start fixing something that ain’t broken.”
Why do I think there must be some statistical fun to unearthed from this study?
https://www.cbc.ca/radio/quirks/jan-11-fires-in-australia-cuttlefish-watch-3d-movies-coal-pollution-harms-crops-and-more-1.5418816/the-cost-of-coal-pollution-takes-lives-but-also-costs-food-1.5418830
https://www.nature.com/articles/s41893-019-0453-5.epdf?referrer_access_token=ehIFhedmeeSh9kY8eSYfodRgN0jAjWel9jnR3ZoTv0M4FDzN_P9eq7R-5jYw5CvMwMs7tbs0rJ8USssv4vTnlc0bNMQ2KU-B97t0usxOHYDhuPKVFw3rmywtLqrafzxjhuCJAFVkNp48ej2hKJ4C6TfOweVH4Q5mUNhr74p2JF–SYOEKw4NhWw1zLxJsY1HmybWXmfOLUEEke5tG4pl_gWRBn1xB9HnfP5aQbVzI_x2fQ3f4xSjvgbB6Cnrc4APqP6DdQ2UxXlkVuZWDcwU8bCo6i0jJ2XP9bvbBq99KeFXr1K76C_HgJNGqus9xm6q7R0kypXg9FkJzcSSGKzd-lEPSqOGIFEY7AVS6dXhhM8yAGAbKP1SbqBNklzKZ6IxLOMmdtrMSYMv_5M9r8_tDyM6KRksROi0MET9DfI82l4%3D&tracking_referrer=www.cbc.ca
@TomRude,
Looking at “The Cost of Coal”, a huge chunk of the “lives saved” were in Las Vegas. A year after they started their study, the state of Nevada implemented the Nevada Clean Indoor Air Act.
“… what steps, if any, your institution is taking to adapt to mitigate these risks”?
My simple response as ‘the bank’ is:
“We simply do not understand what your are asking/requiring. Was adapt intended as adopt? Please clarify your demand, and adjust your required dote of required response appropriately, based on the dote of your clarification. Thank you, and don’t hesitate to contoct us if you hove any questions.”
Nicely dane, DanM.
The Banks need to make disaster plans for the coming Economic Collapse brought on by themselves.
Sounds like she is worried her investments might tank.
If I was a bank CEO, I’d sit naked on a photocopier, take a picture of my butt, and mail that in as the company’s ‘climate disaster plan’. But that’s just me.
A wise cracker, eh?