"...if the rich and powerful were so concerned about global warming, why are banks they own still funding coastal real estate development?"
Because their greed, already blinding them to the feelings of other people (like wanting to stay alive), also makes them very stupid as to climate change. Besides they sell their investments and get out as soon as they can turn a big profit. And with people trying to soothe everyone on this issue they can keep on selling their projects to misinformed people. "Soothe" Remind you of anyone?
It takes 30 years to get your money back on mortgage loans. If the land is underwater, you take a loss. You don't make huge intergenerational fortunes by making shortsided decisions. They aren't concerned about global warming. They're interested in using cap and trade to control people and tax them.
Posted using Partiko Android