Larry Summers, Harvard professor, economist, director of the National Economic Council under President Barack Obama and Secretary of the Treasury under President Bill Clinton, in an interview published Friday in “Wall Street Week” by Bloomberg, “Climate risks as central, systematic financial risks,” Larry Summers said despite the central banking movement. starting to focus on what they call”, such systematic financial risks are “quite distant” and much of the enthusiasm “comes from people who cannot legislate their climate problems.” the whole front”. and so they want to try to legalize it through the backdoor through central bank regulatory policy. ”
“I think people should first invest based on ultimate expectations,” Summers said. I think the problem arises when people who actually influence the environment try to connect economic motivation and make economic arguments that are not very strong. I think there’s been a whole movement in the central banking community to start focusing on what they call climate risks as if they were centralized systemic financial risks. And I don’t think there’s any real evidence of concern yet about the systematic financial risks we had in 2008, during the crisis that came just after COVID, possibly due to climate issues. I think this is a very wide-ranging risk.”
Source: Breitbart
