Progressive Craziness Of The Day: SEC Obsesses Over "Climate" Risk Disclosures
/This makes three posts in a row on the subject of a “progressive craziness of the day.” But then, there’s enough progressive craziness to have such a post every day; or, really, multiple. There is an endless supply.
As a reader of this blog, you may rarely pay much attention to what comes out of the Securities & Exchange Commission. If you should ever look, it probably all seems like a lot of inside baseball mumbo jumbo. On the other hand, if you are a senior executive or board member at a public company, or maybe a corporate lawyer at one of the big law firms, you must pay close attention to everything the SEC does. The Commission wields oodles of arbitrary and unaccountable power. When the SEC says “jump,” corporate America responds, “how high?”
Needless to say, the SEC is one of those government places filled with seemingly “smart” people with no practical sense or knowledge about how the world actually works. But they think that with their brilliance they can bring about perfection and utopia in the world with just a few more regulations and micromanagement of the little people.
Then — as has happened in the past few months — the real world intervenes, and shows what dopes these people are.