Climate Cultists Want The Next President To Force Financial Sector To Take Hotcoldwetdry Seriously

Remember, these are the same people who keep calling Donald Trump a Fascist and an authoritarian, who get upset when Trump uses the power of the Executive Office to do away with regulations, yet, want to use the same office to ram climate change policy down Everyone Else’s throat

The next president can force the financial sector to take climate change seriously

A growing chorus of voices is warning that the financial system — big banks, insurers, and other asset managers — is highly vulnerable to climate change. As Mark Carney, head of the Bank of England, explained in a 2018 speech, climate change threatens financial stability in three ways.

First, there are the rising physical risks of climate change. A Rhodium Group report last year labeled those risks — to “property and infrastructure, agricultural production, energy costs, labor productivity, and rates of mortality and crime in the US” — “clear, present, and underpriced.” Second, there are liability risks, as people who suffer from climate effects seek to hold business and institutions accountable. And third, there are the risks posed by a rapid transition to clean energy, if investment capital flees fossil fuel assets all at once and produces what Carney calls a “climate Minsky moment.”

Any combination of those risks could tip the US into a recession, potentially one that makes the 2008 recession look mild.

Interesting. Everything the Cult of Climastrology pushes could cause essentially a depression.

Or does it? A new paper from the Great Democracy Initiative — a reform-oriented think tank housed at the Roosevelt Institute — argues that Dodd-Frank, the financial reform legislation passed in 2010, already contains the authority necessary to jolt financial institutions into action.

It argues, in other words, that the next president doesn’t need Congress to get the financial sector on the right path. (snip)

With these risks in mind, lawmakers created the Financial Stability Oversight Council (FSOC). Its mandate directly addresses the two risks cite above.

The FSOC has the authority to designate non-banks as “systemically important financial institutions” (SIFIs), exposing them to examination and regulation by the Federal Reserve. And it was charged with developing ideas and proposals to mitigate systemic risks in the sector.

Funny how Warmists want more and more Bigger Government, eh?

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One Response to “Climate Cultists Want The Next President To Force Financial Sector To Take Hotcoldwetdry Seriously”

  1. FunnyThat says:

    The party that calls Trump and the GOP want Fascist policies from their government. Odd.

    A political philosophy, movement, or regime (such as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition
    2 : a tendency toward or actual exercise of strong autocratic or dictatorial control

    Sure sounds like AGW proponents to me. Demanding the government do this and do that and do this and do that and if they dont, god help them because we are coming for you.

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