SEC reinvents itself, now a global warming pressure group

• Of interest, 1/27/10 after Obama's speech, Mary Kissel of the Asia Wall St. Journal said the US White House and Australia are the only places that still buy into (man caused) climate change.

Useless at protecting Americans against frauds like Bernie Madoff, the Security and Exchange Commission turns to the proven fraud of global warming and its relentless profiteers. It plans to force US companies to show changes they are making to deal with (non-existent) global warming.

• Two US Representatives wrote to SEC Chairman Mary Schapiro today (1/26) to address this change in direction:

"“We note with interest that the Securities and Exchange Commission evidently has concluded that, having

• permitted the now-imprisoned Bernard Madoff to bilk as much as $50 billion from trusting investors, it will now turn its investigative eye
• toward global warming
• instead of investor protection,”

Barton and Walden wrote. “Had the colossal failure of the commission to notice the Madoff Ponzi scheme after

• six separate and substantive tip-offs not occurred,

• and even if you had not overlooked a top SEC official’s
• romantic involvement with Mr. Madoff’s niece

during that disgraceful episode, we would be troubled by an undertaking which seems so transparently political and such

• a breathtaking waste of the Commission’s resources.”" via Tom Nelson*********

9/17/07, Global Warming enforcement group aims at Security and Exchange Commission: ""The SEC exists to make sure that investors have the information that they need to make smart decisions," said Mindy Lubber, president of Ceres, a group that promotes environmental standards among private companies. Ceres and the Calvert Group, an asset management firm, said in a January report that more than half of the companies in the Standard & Poor's 500-stock index "are doing a poor job of disclosing climate change risk."...

• They said that by filing a formal petition, they hoped to

• prod the SEC to act....

The petition to be filed...asserts that financial risks -- and opportunities --

• from climate change meet

• the test of being material.

Although the SEC hasn't insisted on disclosure of climate-related matters,

• some companies are complying on their own.

American Electric Power, the largest greenhouse gas emitter in the United States, did a lengthy study in 2004 of how climate regulation might affect its earnings. For its investors,

• a law that would regulate those emissions is

• a billion-dollar question. At least."...

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