30 Nov '11, 3pm

Giant banks screwing the economy are also screwing the climate, says report

Giant banks screwing the economy are also screwing the climate, says report

When they're not making massively leveraged bets on the collapsing value of your savings account, the world's largest banks are doing their best to destroy the ability of this planet to support human life, says a new report . Watchdog group BankTrack investigated which banks are financing Big Coal, and discovered that America's largest financial institutions are knee-deep in the stuff. JPMorgan Chase, Citi, Bank of America, Morgan Stanley, Goldman Sachs, Wells Fargo, HSBC -- they all dominated the industry. Incredibly, China's two biggest banks don't even crack the top 10, even though China is the biggest producer and consumer of coal in the world. Oh, plus, the banks are lying to your face about it. Here's a list of over-the-top greenwashing compiled by BankTrack from the worst offenders. JPMorgan Chase: “Helping the world transition to a low-carbon economy” Citi: “Most i...

Full article: http://www.grist.org/list/2011-11-30-giant-banks-screwing...

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