Bank of America Branch in Ridgewood
Bank of America,will contribute $50 billion over the next 10 years to address “climate change” …oh my
June 13,2012
James Foytlin aka PJ Blogger
Ridgewood NJ, Three years after taxpayers rescued Bank of America, to a tune of a $45 billion bailout during the financial crisis, Bank of America Corp. (BAC) announced it will contribute $50 billion over the next 10 years to address “climate change”. Bank of America latest company to be snookered by the climate change hoax.
The bank’s new initiative includes lending, equipment finance, capital markets and advisory activity and carbon finance, as well as advice and investment help.The Bank will focus on promoting energy efficiency; renewable energy, including wind, solar and hydropower; lower-carbon transportation like electric and hybrid vehicles; and water and waste treatment and disposal initiatives. Don Quixote would be proud.
The company stated the noble goal is to reduce its energy consumption by 25% from 2004, as well as reducing its paper and water consumption, and disposing of electronic waste through certified vendors all by 2015. We all know how these noble experiments seem to always end up ,just look at the idea of “universal home ownership” and its net result ,the collapse of Lehman Brothers and Bear Stearns and the following financial tsunami we are still attempting to deal with.
Since the financial crisis Bank of America has become the poster boy for everything wrong with “crony capitalism” , financial ineptitude. and the blind incompetence of regulators combined with the weak leadership roles of business executives. Critics smell a “quid pro quo” with the Bank looking to return the favor to special interest groups who bailed the bank out with tax payer money.
Given the banks recent history confidence in this latest folly does not give much hope for maligned shareholders and over extended tax payers The bank mismanagement of home mortgages is legendary giving hope to climate change skeptics that the banks involvement is sure to create the spark needed to generate and overwhelmingly strong backlash to the bogus climate “science” being used by politicians world over to raise taxes and undermine individual liberties in the US and around the globe.
