Sixteen Republican Attorneys General are blaming President Joe Biden’s leftist climate and energy agenda for helping to crash a major Silicon Valley bank.
leftist climate and energy agenda for helping to crash a major Silicon Valley bank.
Federal Reserve Board Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on March 7, 2023. ollows the collapse of SVB earlier this month, which has been referred to as the “Death of the Climate Bank.
Your warping of the financial regulatory system undermines both the safe and sound operation of financial institutions and the public’s faith in the fairness and efficacy of the regulatory regime.It is time to turn away from this mistaken path and refocus federal efforts on actual financial risks that have the ability to do real harm to the national economy. Attempting to use the financial system to pursue environmental goals does nothing but increase risk.
Serving a diversified customer base means having customers who generate cash flow that can help a financial institution offset the struggles of other customers.and note that declining to serve customers for failing to comply with unrealistic climate initiatives like achieving net zero by 2050 is a threat to the financial system. You should make clear that
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