And Obama. And W. And Clinton. And you. And everyone you know. And me. And everyone I know. Yadda yadda yadda.
Go watch it yourself. She basically said that you are responsible for whatever happens as a result of your lending. I’m on record here saying I don’t dislike her and that DC needs more like her (by that I mean free thinkers who are presumably beholden to nobody). But holy shit, she needs to stop acting like a kindergartner.
I'm not seeing where she made a fool of herself. if you lend to a group that then commits terrorism, you are held partly responsible. If you sell a hazardous substance to someone who then abuses it, you can be held responsible. and as AOC pointed out, if you over serve alcohol, you are held responsible. the risks of fossil fuel development shouldn't be socialized when little else is. it's a valid point.
Lord. There’s a difference between risk being socialized and a lender being held responsible, right? Where is your line on what a lender should be held responsible for?
what is the line for aiding and abetting a crime? if I get you drunk and let you drive off, I can be held criminally and financially responsible. funding a venture of a company with a poor track record to do development that ends up in an oil spill due to negligence or bad practices is extremely comparable. the only difference is that the more money behind the perp, the more latitude they seem to get in most people's minds
the American people shouldn't have to bear the costs of environmental disasters that are entirely the responsibility of developers and their financiers. the disaster should be privatized if the energy project is.
Ok so where is your line on whether or not a venture, based on the borrower’s history, should be the responsibility of a lender if something goes wrong. I appreciate the sentiment in theory, but damn.
