CelloMomOnCars , to random
@CelloMomOnCars@mastodon.social avatar

The #ClimateCrisis will make the 2008 mortgage crisis look like a walk in the park. With ice cream.

" Rising seas, bigger #floods, and other increasing #climate hazards have created a dangerous instability in the U.S. financial system. "

That, on top of developers building in flood plains and wildfire-prone places, and the US government providing the #insurance.

#ClimateChangeIsTheLastStraw
https://yaleclimateconnections.org/2023/04/bubble-trouble-climate-change-is-creating-a-huge-and-growing-u-s-real-estate-bubble/

CelloMomOnCars OP ,
@CelloMomOnCars@mastodon.social avatar

"Yellen said it’s necessary for FSOC to examine how these shifts may affect the wider financial system.

, established after the global financial crisis to identify and address systemic vulnerabilities in the financial system, includes the heads of the Treasury Department, Federal Reserve, Federal Deposit Insurance Corp. and Securities and Exchange Commission, among other regulators."

https://fortune.com/2023/07/30/janet-yellen-protection-gap-insurance-climate-change-disasters-treasury-secretary/

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