Mississippi State Treasurer David McRae issued the following statement.
State Treasurer David McRae joined financial officers from 15 states on a letter condemning the Biden administration's attempts to pressure banks and other large financial institutions into divesting from coal, oil, and natural gas companies. The letter comes in the wake of reports that Special Presidential Envoy for Climate John Kerry has privately pressured banks to cut off lending for fossil fuel industries.
"As a collective, we strongly oppose command-and-control economic
policies that attempt to bend the free market to the political will of
government officials," the Treasurers wrote. "It is simply antithetical
to our nation's position as a democracy and a capitalist economy for the
Executive Branch to bully corporations into curtailing legal
activities."
Cutting off lending to these industries, which are engaged in
perfectly legal activities, would do substantial harm to Mississippi's
economy and could result in significant job losses. In their letter, the
Treasurers committed themselves to closely monitoring which financial
institutions bow to the Biden administration's pressure campaign.
"As the chief financial officers of our respective states, we
entrust banks and financial institutions with billions of our taxpayers'
dollars," they wrote. "It is only logical that we will give significant
weight to the fact that an institution engaged in tactics that will
harm the people whose money they are handling before entering into or
extending any contract."
Kingfish note: The combined portfolios are approximately $600 billion.
13 comments:
Closer every day. Purchase whatever ammunition you can get your hands on ASAP.
Atlas Shrugged.
Holy shit that's brave!
"It is simply antithetical to our nation's position as a democracy and a capitalist economy for the Executive Branch to bully corporations into curtailing legal activities."
That's fucking rich. The last President spent 4 years trying to get private industry to do what he wanted when it suited him. See: Twitter, Facebook, Goodyear Tires, Harley Davidson, Rexnord, Carrier, GM, Ford Motor Company, Boeing, every media company, and many, many more.
I missed the David McRae letters over that bullshit.
Is there any precedent for these types of actions from our federal government? You know, I have to admit I've sort of shunned the notion that we may one day have to act against the feds (and I don't mean just talking ugly to them), but every time one of these new "measures" is revealed, I begin to think it's not implausible that serious action could be a possibility.
I never thought losing our democracy was a real possibility, not from the inside, anyway. I've seen the pendulum swing back and forth MANY times in my life. However, unfortunately this swing seems to be quite different. There's something fundamentally different going on, and our first line of protection - the Republicans in Washington - better damn well get off their asses and realize it's not only the possibility of being taken off the cool democrat party lists that could happen. It can and will be losing their jobs......or worse!
Wonder if McRae thinks the US and State governments should stop providing subsidies to the oil industry as well?
@4:01 PM
Closer to what? You going save your ammo and keep waiting for yet another Q Anon revelation? Going to wait until they drag 45 out of 1600 Pennsylvania Ave?
Maybe you are going to wait for the fuel supply to get cut off or for the shelves to be bare of food? You are going to die waiting in a hospital bed while an adult DACA is your nurse at UMMC.
You people are both impotent and pathetic.
John Kerry s--t his pants when he received this letter.
f
For the life of me, I do not understand what that ketchup heiress saw in Lurch.
Doesn't Kerry have something better to do, like delivery more money to Iran?
Thank you Treasurer McRea - at least you and your fellow treasurers are calling Kerry (and the administration) out on this ridiculous overreach of the federal government's power to enact a political policy.
Now that Biden has sent a few billion to your office to place with banks, I'm sure that they would rather listen to you and your fellow treasurers on a local basis than to put up with this crap.
Now that y'all have gone on record - let us know if any of the state's money had to be moved from a particular institution due to their following Heinz-Kerry's directives so we can make similar, although much less significant, actions.
Banks will be the next Facebook, being ordered to cancel customers. Buy Bitcoin
Who is John Galt?
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