John Delaney 🇺🇸

@JohnDelaney ↗

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Last Checked Aug. 12, 2021

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Thu Apr 22 11:52:45 +0000 2021

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John Delaney 🇺🇸 @JohnDelaney

Mortgages were highly levered in our financial system and when their value collapsed institutions failed The same could happen with climate. Many assets linked to weather patterns such as insurance contracts, coastal real estate etc could drop in value fast. — PolitiTweet.org

Posted April 22, 2021

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John Delaney 🇺🇸 @JohnDelaney

When assets perceived to be risky go down in value it has less impact because people always thought they were risky and therefore they are not highly levered This is why the financial crisis was so bad because mortgages - which were perceived to be safe - went down in value — PolitiTweet.org

Posted April 22, 2021

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John Delaney 🇺🇸 @JohnDelaney

If this were to happen, it could trigger significant damage to banking and insurance institutions and trigger a financial crisis. This is just another reason why we should be acting on climate change now and transitioning ourselves to a more sustainable economy. — PolitiTweet.org

Posted April 22, 2021