Letters to the Editor: Big Oil scuttled a Fed nominee because of her climate concerns. We’re doomed
To the editor: It’s pretty discouraging to see the failure of the Senate to confirm Sarah Bloom Raskin as the Federal Reserve’s vice chair for supervision.
How are we as a nation going to face the serious climate-related financial disasters ahead if the fossil fuel industry can (still) use its considerable muscle to stop a regulator who wants to consider these costs in determining the health of these institutions?
It seems like good common sense to me and something we will be very sorry we did not deal with when we had the chance.
Gerda Newbold, Santa Monica
To the editor: Raskin’s bid was not killed because of questions regarding her qualifications and experience. Nor was it killed by the fossil fuel industry.
It was called into question because she seems bent on expanding the role of the fed into areas best left to other agencies. The role of the Fed is to be focused on inflation and employment, not global warming.
The concern was that she would pick winners and losers, assuring that the Solyndras of the world got capital, not the fossil fuel industry. That is not her job.
Kevin Minihan, Los Angeles
To the editor: If you say “war” or “invasion” to Russian President Vladimir Putin, there are consequences. If you say “climate change” or “global warming” to Sen. Joe Manchin III (D-W.Va.), there are consequences.
Bob Fey, Orange