Bankers are just nice people
A major banker, worth $2 billion, says the government needs to take land away from poorer people and build machines on it to change the weather.
CEO Jamie Dimon says he “is a red-blooded, patriotic, free-enterprise and free-market capitalist” while he promotes government control of markets, land, clouds, wind and rain. ” We simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives” he complains, suddenly unhappy with the free-market, and sounding like a red-blooded communist on steroids instead. Even the Soviets didn’t try to micromanage the planet’s weather.
Dimon’s annual letter to Shareholders starts with all the right catchphrases. He comes in “defense of democracy and essential freedoms, including free enterprise”, but he doesn’t seem too interested in private property rights. He’s exasperated with people who won’t consider a carbon tax to stem climate change, though he doesn’t say anything about people who have considered it and think it’s Shamenistic VooDoo.
h/t To John Connor II, Climate Depot and Marc Morano
Seize property to build wind and solar farms, says JP Morgan chief
by Simon Foy, The Telegraph, UK
The chief executive of JP Morgan has suggested that governments should seize private land to build wind and solar farms in order to meet net zero targets.
Jamie Dimon, the longstanding boss of the Wall Street titan who donates to the Democratic Party, said green energy projects must be fast-tracked as the window for averting the most costly impacts of global climate change is closing.
In his annual shareholder letter, Mr Dimon said: “Permitting reforms are desperately needed to allow investment to be done in any kind of timely way.
“We may even need to evoke eminent domain – we simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.”
Eminent domain is when a government or state agency carries out a compulsory purchase of private property for public use and compensates the asset holder.
The bankers just want to save the world
From the letter to shareholders itself:
As you know, we are champions of banking’s essential role in a community — its potential for bringing people together, for enabling companies and individuals to attain their goals, and for being a source of strength in difficult times.
The window for action to avert the costliest impacts of global climate change is closing.
Massive global investment in clean energy technologies must be done and must continue to grow year-over-year.
Policies like the Bipartisan Infrastructure Law, the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, and the Inflation Reduction Act (IRA) — that hold the potential to unlock over $1 trillion in clean technology development — need to be implemented effectively.
JPMorgan Chase has financed more than $170 billion in green initiatives in the last two years, which presumably will do better if the government slaps on carbon taxes and offers up easy land.
But it probably has more to do with the unholy alliance of corporate power and Big Government, both feeding off each other in a cosy arrangement that fears only that the masses might figure it out.