It's selling hypothetical water that is not there and will never be there. It's a total scam that is going to bite drought-prone areas in the ass big time.
I'll try not get too distraught over the fate of people who live on Pueblo land and learned nothing from it
Never underestimate the ability of banking and finance to invent new financial products and then tell you how it's beneficial for everyone. (See financial crisis and derivatives for good example of this money making house of cards)
Thank goodness for polits like Warren, a regular target of repubs and wealthy individuals, greedy corps and crypto bros.
*As others pointed, like many other polits, Warren too should be called out for insider-trading. We need less cheerleading and greater accountability. Thank you folks for educating me on this.
Talking about a politician who insider-trades her way to tens of millions in gains each year.
The real fix here is to ban speculative trading on anything with either industrial or everyday use (like metals and real estate).
In Mexico there is a town run by Coca Cola and the people literally believe in what I think is Fanta. Everyone dies of diabetes and the undertaker sees what's going on, but it's part of the religion. Coca Cola owns the water in that town. I think it's a Vice report.
This sounds like a plot from fallout.
It's almost like Fallout is inspired by real life...
Brawndo's got what plants crave.
I am sure some Ivy League consultant or MBA was paid handsomely to exploit the illiteracy and/or faith of poor people.
What is even real anymore.
How can water rights be purchased when most of the western states follow prior appropriation? If this introduces riparian laws to the western US that seems like a terrible idea, in addition to the terrible idea of trading in water futures.
I am seeing more Warren in the news lately. Are they trying to make her an alternative to Biden?
She has been an important figure for decades. Biden's got Kamala Harris as VP, they don't need more than that.
Warren tried to fight a law in 2005 that made it more difficult for consumers to file bankruptcy. From 2006-2010 she worked as a member of the FDIC. Her career really started to take off after she was very vocal and harsh against bankers and financial institutions following the 2007-2008 financial crisis, which lead to reform, and later when she became the first female representative from Massachusetts sent to US Congress, she served as the chair for the Congressional Oversight Panel of the TARP. She then served as very first congressional advisor for the newly established Consumer Financial Protection Bureau. She repeatedly refused to run for President in 2016 despite strong support at the time.
So get used to hearing about her until the day she dies, so long as you follow US Politics.
No she's the next controlled opposition after Bernie dies. It's important to have a fake progressive in the Democratic party.
Reminder that she voted to block UNRWA aid and said "israel had the right to defend itself" for quite a while into the Genocide of Gaza.
If this bill fails we should all go long water and opt for physical delivery instead of cash settlement.
"Yes, seller of water futures, you have to deliver 800,000 cubic feet of water to my house. That's derivatives bruh!"
Seriously you have to talk to these finance bozos in the only language they understand- money. For some reason, "people need water (and housing etc.) to live" just doesn't get through to them.
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