Why any adult agrees to be questioned by the likes of Reps. Rashida Tlaib and Alexandria Ocasio-Cortez remains a mystery, yet here we are.
During a House committee meeting on Wednesday, U.S. Rep. Tlaib (D-Mich.) called upon any individuals who bank with JPMorgan Chase to close their accounts and effectively default on their loans after she failed to elicit a promise from CEO Jamie Dimon and the heads of five other major banks to divest from fossil fuels.
Tlaib threw her wrong-headed gauntlet down (remotely, of course) as the House Committee on Oversight and Reform proceeded in a matter not to her liking. She sought to remind the CEOs of such banks as Citigroup and Bank of America that they made a verbal commitment to fight climate change and reach net zero emissions by 2050.
“You have all committed, as you all know, to transition the emissions from lending and investment activities to align with pathways to net-zero in 2050… So no new fossil fuel production, starting today, so that’s like zero. I would like to ask all of you and go down the list, cause again, you all have agreed to doing this. Please answer with a simple yes or no, does your bank have a policy against funding new oil and gas products, Mr. Diamond?” Tlaib asked.
For his part, Dimon seemed to answer her without equivocation.
“Absolutely not, and that would be the road to hell for America,” he said.
Whom do you think knows more about economics and prosperity: Rashida Tlaib or Jamie Dimon? If you think the former, you require a mental wellness check. https://t.co/ASUnZ7dpsC
— Ben Shapiro (@benshapiro) September 22, 2022
Dimon’s response sent the Michigan Democrat into a frenzy of conflations and non-sequiturs concerning student loan forgiveness.
“Yeah, that’s fine. Sir, you know what, everybody that got relief from student loans [who] has a bank account with your bank should probably take out their account and close their account. The fact that you’re not even there to help relieve many of the folks that are in debt – extreme debt – because of student loan debt and you’re out there criticizing it.”
Tlaib’s attempt at a cash grab and her thoughts on debt forgiveness (wealth redistribution) were previously disabused when Dimon simply mentioned the outrageous cost of college tuition.
“I wish they had targeted the people who actually needed help… They still haven’t fixed the underwriting and they haven’t fixed the cost of college.”
Other CEOs of the largest banks in the world essentially said the same but qualified it with a promise to work toward “green” energy sources, perhaps not realistically but merely in order to get Tlaib off their collective backs, which is understandable.
“We will continue to invest in and support clients who are investing in fossil fuels and in helping them transition to cleaner energies,” Jane Fraser, CEO of Citigroup said.
Brian Moynihan, CEO of Bank of America, echoed Fraser’s commitment to a transition that is rooted in reality.
“We are helping our clients make a transition, and that means we’re lending to both oil and gas companies and to new energy companies and helping monitor their course towards the standards you’re talking about,” he said.
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Frank (Chip) Webster is a musician and composer, former teacher of percussion and U.S. Army Infantry veteran. He holds a degree in English from Arizona State University.
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