Elizabeth Warren Proposes More Futile Progressive Legislation in Prep for 2020 Run
“The Climate Risk Disclosure Act”
If you want proof that Elizabeth Warren is planning to run for president in 2020, look no further than her actions.
She has been busy for months with tons of progressive busy work which is likely to go nowhere, but that’s not the point. She’ll likely use it to distinguish herself from the other 30 people vying for the Democratic nomination.
Her latest plan is to try to force public companies to disclose threats to the climate. We already have laws which protect the environment from pollution, so this is something different.
Francine McKenna reports at Market Watch:
Elizabeth Warren leads push by Democrats to force public companies make climate-risk disclosures
Elizabeth Warren of Massachusetts is spearheading an effort by Democratic senators to bring a bill that would require public companies to disclose more information about their exposure to climate-related risks.
The bill, called the Climate Risk Disclosure Act, would direct the SEC, in consultation with climate experts at other federal agencies, to issue rules within one year that require every public company to disclose:
• Direct and indirect greenhouse gas emissions
• All fossil-fuel related assets it owns or manages
• The effect on the company’s market valuation if climate change continues at its current pace or if greenhouse gas emissions were restricted in compliance with the Paris accord goal; and
• What strategies are in place to address the physical and transition risks posed by climate change.
Al Gore just loves the idea:
“Senator Warren is demonstrating strong leadership by introducing legislation to assess the financial risks of climate change and require that they be disclosed to the public. This is a critical step toward breaking our addiction to fossil fuels and accelerating the transition to a clean energy economy,” Gore wrote in a press release issued by Warren.
As I said, this isn’t likely to go anywhere. It’s progressive resume padding. She has already joined the left wing chorus calling for the abolishing of ICE and she is suddenly interested in being seen helping Native Americans.
This newest initiative is very similar to her recent attempt to inject social justice into corporate America.
My colleague Mary Chastain wrote about it last month:
Elizabeth Warren wants to weaponize and federalize corporations for social justice activism
Sen. Elizabeth Warren hates capitalism and has never made an effort to hide it. Now she’s taken that hatred a step further and introduced a bill (pdf.) that would literally nationalize all the things. The government must step in and tell CEOs how to run their companies.
Warren penned an op-ed in The Wall Street Journal about her “Accountable Capitalism Act” to sell it to the public. She gushes over how the bill would help workers and give more power to them.
That sounds familiar…*cough*VladimirLenin*cough*
In reality, the bill gives more power to the government because Warren’s bill tells a company EXACTLY how it should run. In other words, capitalism is accountable to the government, not the people or workers. Reason summed it up:
Warren’s “Accountable Capitalism Act” would require that corporations that earn more than $1 billion in revenue a year (note “revenue,” not “profits”) would need a federal “charter” in order to operate. This charter would obligate these companies to consider all “stakeholders,” not just shareholders, when making decisions. The bill would also require these corporations to permit employees to elect 40 percent of the company’s board of directors; a super majority of 75 percent of directors and shareholders would have to approve political donations. (Gee, I wonder if somebody will propose something similar for unions?) Shareholders would be permitted to sue the company if they felt its actions were driven purely by profit and did not reflect the desires of its many “stakeholders.”
You can already see her on a debate stage saying something like: Look at all the great things I’m trying to get done.
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Typical Democrat – their knee-jerk response is to regulate and thereby strangulate.
Why not just force companies to rate themselves on how they abide by the progressive platform, on a scale of 1 to 100? That’s a lot easier. Then the mobs know who to go after. Start to boycott the 1-50, and after you put them out of business, recalibrate.
You MUST obey us!
Fauxcahontas qualifies for the “F C” award – Fake Cherokee and some others that I will let you use your imagination for.
…to bring a bill that would require public companies to disclose more information about their exposure to climate-related risks.
Why stop at public companies? Why not include future Presidential campaigns, and former Vice Presidents? Their use of private jets to flit about the country, and the world, should be under just as much scrutiny as public companies.
The effect on the company’s market valuation if climate change continues at its current pace…
Or, the effect on a former Vice President’s net worth due to promoting the climate change hoax.
One day this will followed by a bill requiring every American to disclose their individual risk to the environment. How much power one uses, exhaust emitting machines, etc. Of course, certain people will be exempted for as we all understand: all animals are equal, but some more equal than others. It’s coming, fight for freedom and defeat Warren.
Speculative harm is not a required disclosure.
Climate
Risk
Assessment
Policy
.
Sticking with her expertise.
Hmmm. The “Accountable Capitalism Act” . . . too bad the “Accountable Government Act” died in committee.
Lizzie AXED it?
The only dangerous change in climate is the heated political and social climate fostered by the Left. Their climate warming starts with Molotov Cocktails.
We are already suffering from an environment that makes it very difficult for promising companies to go public in the United States thanks largely to Sarbanes Oxley. Adding nonsensical legislation like this will only further increase the burden of being public…. it adds cost without one iota of improvement in business fundamentals.
The number of publicly traded companies per 1 million people in America peaked 1996 at 30. Today it stands at 12 as the number of publicly listed companies has dropped from close to 8,000 to just over 3,500 today.
This limits company access to equity and debt capital and hurts investors by limiting access to promising young companies.
Elizabeth Warren can’t appreciate this because it appears she hold no equity investments. A review of her tax returns shows that despite making hundreds of thousands of dollars per year and frequently over $1M/year in income she and her husband consistently report negligible interest and dividend income and no capital gains or cap gains distributions that would come from holding mutual funds. I have no idea what they do with their excess income (it doesn’t go to charity because like most Democrats they give very little… usually 2-3%). Perhaps it is all sitting in CDs or money markets.
In other Warren news she held a town hall meeting in Quincy MA yesterday. From the Boston Herald:
Warren argued against rolling back health care coverage and for addressing the $1.5 trillion student loan debt. “Never before in our history have we put this kind of burden on young people,” Warren said. “It is obscene the federal government is crushing people with student debt.”
In her warped mind it is the Federal Government that is crushing people with student loan debt not the colleges and universities with their $1M+ presidents, ever increasing staffs of Provosts and VPs pulling in hundreds of thousands of dollars per year and huge staffs of diversity hustlers making equally obscene amounts for fostering identity politics and deep divisions on campus.
It takes a sociopathic mind to be able to actually utter those words in public when one has been among the prime beneficiaries of the escalating cost of higher ed and never ever spoke a word about it before becoming a politician.
She is vulnerable — there are uncomfortable questions she should be asked, that she can’t or won’t answer.
Check out “Twelve Questions for Fauxcahontas and Her Progressive Tribe: posted yesterday: http://www.trevorloudon.com/2018/09/twelve-questions-for-fauxcahontas-and-her-progressive-tribe-part-i-of-iii/
She is vulnerable — there are uncomfortable questions she should be asked, that she can’t or won’t answer.
Check out “Twelve Questions for Fauxcahontas and Her Progressive Tribe: posted yesterday: http://www.trevorloudon.com/2018/09/twelve-questions-for-fauxcahontas-and-her-progressive-tribe-part-i-of-iii/
She’s hoping to become a Rodham cousin. Did she show up to check on Massachusetts residents when three natural gas fires blew things up, last week? I doubt if she even knows where Andover is.
Fauxcahontas is about as relevant to Massachusetts as Hillary was to New York.
The more junk bills like this which are voted down (based on obvious flaws and technical problems), the more she can run on a platform of “see, I’m trying to help you, but these neanderthals in Washington D.C. are blocking me at every turn.”
So in a way it’s to her advantage she keeps on shilling very bad and obviously flawed laws: it allows her to support a narrative of the “outsider” being thwarted at every turn by a hateful Trump Administration. In a way, it’s a smart strategy–so long as no-one looks too deeply into the record of bad law she keeps proposing.
How about these ahole politicians start ranking themselves on a scale called the Freedom Risk. They can all disclose how much freedom they believe in and tell us what maximum personal and corporate income tax they believe in and spell out where they stand on the 2nd Amendment and a personal right to self protection.
I
This bill can be subtitled “The Destroy Any Company We Want” bill, mostly from this one line:
• Direct and indirect greenhouse gas emissions
So company XYZ under this bill discloses that it has indirect CO2 emissions of 100 tons. Two years later, the government decides that the company needs to be destroyed, declares that the company actually emitted 25,000 tons indirectly, and proceeds to drag them into court for knowingly filing a false report.
(Technically, this will not be the *only* thing the company is dragged into court for, but it will be one cut in the death of a thousand cuts.)
Who is a bigger thrower of feces: hillary klinton, or Fauxcahontas?
We can sick them on Kilauea Corp. on the Big Island for excessive SO2 emissions and non-permitted excavations. Being idiots, they will just run with it and expose themselves to the fence sitters.
Don’t forget unpermitted dumping in the ocean.
Will someone please get this fool a new blazer, she wears it 7 days a week.