Critics decry 'massive step in wrong direction' as big banks move to buy up fracking industry assets
[link:https://www.rawstory.com/2020/04/critics-decry-massive-step-in-wrong-direction-as-big-banks-move-to-buy-up-fracking-industry-assets-with-coronavirus-bailout-funds/|
"Taxpayers shouldn’t be required to backstop oil and gas companies that were already in trouble prior to the pandemic."
Critics decry ‘massive step in wrong direction’ as big banks move to buy up fracking industry assets with coronavirus bailout funds
Published 32 mins ago on April 10, 2020By Common Dreams
Climate advocates are slamming banking interests after a report Thursday revealed that JPMorgan Chase, Wells Fargo, Bank of America, and Citigroup are planning to take over distressed oil and gas companies assets in the wake of an industry collapse, likely by using new access to federal bailout money included in the coronavirus relief package passed by Congress.
"If these banks want to get their hands even more bloody, so be it, we are taking tally.”
—Dallas Goldtooth, Indigenous Environmental Network.
Much more at link.
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