by Dennis Ambler
The Banks are after our money again.
“Using public funds to remove risks” means that the wealthy may take any level of risk to further enrich themselves, because if anything brings huge losses, the taxpayers will be forced to bail them out. If the risks result in huge returns for the wealthy, the taxpayers received zero. Investment and loan guarantees by governments to large corporations and banks are wealth transfers at best, theft at worse.
this account comes from the Climate Group website: The Climate Group.
Date:July 23, 2011
“NEW YORK: On July 20, The Climate Group and Theodore Roosevelt IV of Barclays Capital hosted a roundtable dialogue with Andrew Steer, Special Envoy for Climate Change at the World Bank with senior members of the financial sector, to discuss how public sector funding could be used to stimulate the nearly $1 trillion of private sector investment needed to address climate change worldwide. (more…)