Jaime Raskin’s wife, Sarah Bloom Raskin, is as radical and far left as her husband. She is Biden’s nominee for the position of Vice Chair of the Federal Reserve. Raskin’s overriding goal in life is to recreate the nation via The Great Reset and “reimagine the economy” without fossil fuels.
She could become the foster child for soaring energy prices. Her statements telling banks to stop lending to oil-and-gas companies appears to be a full-scale effort to bankrupt the fossil fuel industry. By politicizing the Federal Reserve as vice chair, she could easily do exactly that.
Sen. Patrick J. Toomey of Pennsylvania, the ranking Republican on the Senate Banking Committee, said during Thursday’s hearing that her proposals to mitigate “climate-related financial risk” would have “devastating consequences not just for energy workers, of which we have millions, but also consumers, who would have to pay much more for energy.”
“The real risk is unelected officials like Ms. Raskin who want to misuse banking regulatory powers to impose environmental policies that Congress has refused to enact,” Mr. Toomey said.
“Ms. Raskin has repeatedly and specifically advocated that the Fed allocate capital away from the fossil fuel industry as a way to combat climate change. She says the quiet part out loud,” he added.
Republicans zeroed in on her support for using financial regulations to steer capital from fossil fuel companies, which she has called a “dying industry,” and her 2020 op-ed urging the Federal Reserve to prevent oil-and-gas firms from accessing emergency pandemic lending under the CARES Act.
“The Fed is ignoring clear warning signs about the economic repercussions of the impending climate crisis by taking action that will lead to increases in greenhouse gas emissions at a time when even in the short term, fossil fuels are a terrible investment,” Mrs. Raskin wrote in her New York Times op-ed.
Under questioning, Mrs. Raskin said that “the whole point of the op-ed was that the Fed should not pick winners and losers,” prompting Sen. John Kennedy, Louisiana Republican, to retort, “except for oil and gas. You said they ought to be allowed to go broke.”
Raskin plans to weaponize the Fed and use it to attack industries like oil and gas.
Laura explains how Raskin has also gamed the system for herself in the clip below.
Chuck DeVore Vice President of the Texas Public Policy Foundation said on Fox News last night that she wants to end the oil and gas industry. This position as vice chair would enable her to do that. She would be able to tell the Federal Reserve what to do.
DeVore told host Laura Ingraham on her show last night that Raskin wants “to starve the oil and gas industry” of funds they need to provide cheap oil and gas, thus making it extremely expensive to heat your home or fill up your gas tank. She wants to use the “awesome power of regulatory rules of unelected bureaucrats to do things that Congress doesn’t even want to do themselves.”
Raskin claims she won’t do any of that. That’s absurd. Of course, she will. Her plan is to politicize the Federal Reserve against the oil and gas industry.
Watch:
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Anybody that wants to eliminate all fossil fuels just shows their complete ignorance. Until there is found some source of energy that can replace the amount of energy we get from fossils we will depend on fossil fuels for a long tome to come.
Id like to know how they think they are going to heat homes, work spaces, charge all their ele cars etc. Wind , Solar makes up like 5-10% of ALL ele power. These are complete and totally stupid people.
They always use ironic names that are the opposite so building it back is actually burning it all down.
There won’t be anything left but a smoking crater of third world misery in 2024.
Still have faith in the Grand Old Politburo fellow travelers?
I feel sorry for you.
The greatest danger to America is un-elected Bureaucrats with power. ALL Laws and Regulations should be voted on by Congress. Bureaucrats should have ZERO power.