Showing posts with label Wall Street. Show all posts
Showing posts with label Wall Street. Show all posts

Thursday, November 1, 2012

NY Mayor Michael Bloomberg Endorses Obama for "Climate Change", NY Governor Cuomo Wants Everyone to Chip In to Make Up For Lost Revenues "in the World's Financial Hub"


The very predictable meme of "Hurricane Sandy was caused by global warming (now morphed into "climate change" for many, as in the case of Mayor Bloomberg)" has quickly spread, and now it's the reason for presidential endorsement. And everyone outside New York should pay for the lost economic revenue in New York.

First, NY Mayor Michael Bloomberg's Op Ed piece (11/1/2012):

A Vote for a President to Lead on Climate Change

The devastation that Hurricane Sandy brought to New York City and much of the Northeast -- in lost lives, lost homes and lost business -- brought the stakes of Tuesday’s presidential election into sharp relief.

The floods and fires that swept through our city left a path of destruction that will require years of recovery and rebuilding work. And in the short term, our subway system remains partially shut down, and many city residents and businesses still have no power. In just 14 months, two hurricanes have forced us to evacuate neighborhoods -- something our city government had never done before. If this is a trend, it is simply not sustainable.

Our climate is changing. And while the increase in extreme weather we have experienced in New York City and around the world may or may not be the result of it, the risk that it might be -- given this week’s devastation -- should compel all elected leaders to take immediate action.

Here in New York, our comprehensive sustainability plan -- PlaNYC -- has helped allow us to cut our carbon footprint by 16 percent in just five years, which is the equivalent of eliminating the carbon footprint of a city twice the size of Seattle. Through the C40 Cities Climate Leadership Group -- a partnership among many of the world’s largest cities -- local governments are taking action where national governments are not.
Leadership Needed

But we can’t do it alone. We need leadership from the White House -- and over the past four years, President Barack Obama has taken major steps to reduce our carbon consumption, including setting higher fuel-efficiency standards for cars and trucks. His administration also has adopted tighter controls on mercury emissions, which will help to close the dirtiest coal power plants (an effort I have supported through my philanthropy), which are estimated to kill 13,000 Americans a year.

...One sees climate change as an urgent problem that threatens our planet; one does not. I want our president to place scientific evidence and risk management above electoral politics.

Of course, neither candidate has specified what hard decisions he will make to get our economy back on track while also balancing the budget. But in the end, what matters most isn’t the shape of any particular proposal; it’s the work that must be done to bring members of Congress together to achieve bipartisan solutions.

Presidents Bill Clinton and Ronald Reagan both found success while their parties were out of power in Congress -- and President Obama can, too. If he listens to people on both sides of the aisle, and builds the trust of moderates, he can fulfill the hope he inspired four years ago and lead our country toward a better future for my children and yours. And that’s why I will be voting for him.


(Full article at the link)

Governor Andrew Cuomo wants the federal government to pay for the expected 6 billion dollar economic damage because of Hurricane Sandy. What damage?

From Yahoo News quoting Reuters (10/31/2012):

Governor Andrew Cuomo said he is asking fellow Democrat, President Barack Obama, to pay 100 percent of the estimated $6 billion bill, at a time that state and local government budgets remain constrained by a weak economic recovery.

... Cuomo said in a letter to Obama that "initial estimates project up to $6 billion in lost economic revenue in the greater metropolitan area and the state" due to disruption to business in the world's financial hub.


Yes, the world centers around New York, and Wall Street. Everyone should worry about the well-being of New York and Wall Street. Indeed, Hank Paulson and Ben Bernanke successfully threatened the Congress to authorize $700 billion TARP money in 2008 fall to bailout the US and international financial institutions.

Meanwhile, some New Yorkers are busy dumpster-diving for scraps of food, as partisan pundits ridicule Romney for trying to collect and distribute relief goods instead of collecting money for Red Cross so that Red Cross can buy stuff. So, where's Red Cross, distributing food?