Al Gore Begs for More Money!

Chris slams Al Gore and David Blood’s Wall Street Journal plea for more green energy cash. Their ‘sustainable investing’ pitch? A scam propped up by taxpayer funds and government handouts—not solid returns. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst and trader Chris Markowski.

Speaker 2 (00:16):
So al Gore and his partner in crime, David Blood
have taken to the Wall Street Journal today and are
begging for more money. That's right. They're none too happy
about the investment climate when it comes to green stuff.
So their op ed today is the business case for

(00:38):
green energy and oh they are Oh they miss it.
They're getting nostalgic here. It seems like yesterday that we,
as advocates for a sustainable economy had the wind in
our sales. At the twenty twenty one United Nations Climate
Change Conference in Glasgow, many of the world's largest asset managers,

(01:02):
banks and insurers pledged to decarbonize their investment portfolios, loans
and insurance policies in line with the Paris Agreement. The
world today looks very different for al Or. Many of
Glasgow's signatories are stepping back from their commitments. Others are

(01:25):
playing down their climate action to avoid controversy, particularly in
the US. The fossil fuel industry. It's allies and captive
policymakers seek to punish companies and investors pursuing sustainability goals
with frivolous lawsuits, smear campaigns, and the withdrawal of state
controlled funds under management. There we go, state controlled funds.

(01:48):
That's taxpayer money. That's the money that politicians take from
you and I to keep these boondoggles afloat and keep
al Gore, dvid blood and their ilk rich, filthy rich.
You know, think Daffy Duck back in the looney tombs.

(02:09):
I'm rich, I'm rich. I take you, I'm rich, I'm rich.
That's all of these people in this business, this business scam.
And they're oh no, these developments, they couldn't come at
a worse time. Yes, Oh my god, last year hottest,
hottest on record. All humanity is suffering. What a crock
of crap. We can't afford to ignore the climate crisis,

(02:33):
the instruction of vital natural systems, and increasing economic inequality.
Oh again, here we go. The poor and powerless suffer
the most significant consequences of a warming and deteriorating planet.
We would all lose out in the long run. Shouldn't
be this way, and he says that asset managers deploying capital,

(02:58):
they're not investing their own money, They're investing others savings,
pension assets, retirement accounts. They have the duty to take
into account all relevant risks and opportunities as they try
to protect those assets and increase them. Yeah. Yeah, if
your investments were so wonderful, why did why did Joe

(03:21):
Biden have to sign in basically a get out of
jail free card for asset managers for investing in these stuff?
This crap you want them to invest in after they
lose people money. We believe the business case for sustainable
investing is beyond question. Then invest okay, okay, sell it,

(03:45):
al go, go, go, go ahead, go well, listen, sell
us to try to sell me on your freaking windmills man, Okay,
try okay. If it was such a wonderful investment, it
wouldn't need mandates and signatories and government pressure nor government financing.

(04:10):
Wouldn't need a dime it would it would people would
people would be throwing money at you if it was
so fantastic. But it's not. It's a racket. Al Gore said,
sense establishing our firm with five other partners. In two
thousand and four, we've faced opposition to our approach a blone. Okay,

(04:35):
you've got in bed government right away, and I'm going
to take everybody back in time.

Speaker 1 (04:41):
Yep.

Speaker 2 (04:41):
November two thousand and four, I wrote a column entitled
al Gore goes to Wall Street and at the time
I'm like, well, Al Gore is going to be an
investment manager. And this was from the London Financial Times.
Al Gore, the former vice president, is to put his

(05:03):
expertise in global sustainability issues into practice with the launch
today of a fund management firm. Gore has teamed up
with David Blood, former chief executive at Goldman Sachs, to
set up Generation Investment Management, a London based boutique that
will invest in global equities. Yes they will. Partners have

(05:25):
contributed total of double digit millions of dollars to kickstart Generation,
which plans on attracting new funds next year. Again I
looked at this and at the time I'm like, I
didn't really get exactly what they were going to do.
They did talk about transparency, eco efficiency, nurturing employees, all

(05:48):
this stuff. Again, this is two thousand and four. Again
al Gore, at the time investment manager. The Club for
Growth actually took a look at al Gore's track record
with investments and according to the Club for Growth, he
happened to be the most incompetent investor, they said, on

(06:10):
the face of the earth. And again just made fun
of just how poor he was. Maybe he didn't hang
out with Nancy Pelosi enough and he had basically no
investments whatsoever. And again all of a sudden, bada boom,
bada bing, he's a big money manager. Well, he had
the connects, he had the rolodexes. And once you present

(06:32):
yourself like Generation Asset Management did to all of these
powers that be that you're going to get them involved
and get them rich on your green scam. Two. Sure, Hey,
these are politicians and ninety nine point nine percent of
them are cheats and liars, and they'll do anything for
a quick buck. They have no problem taking your tax

(06:56):
dollars and throwing it at various different boondogs. This is
one of the things is that people need to understand.
If you've got a good idea, you've got a great technology,
you'll find investments. You don't need taxpayer dollars. You don't
need a regulatory capture. You don't need the government stepping in.
People will do it anyway. People do it anyway. You

(07:20):
show me, You show me that I put solar panels
on the roof of my house. You show me that
it's cost effective, makes sense without any government subsidies, handouts
or any other crap. I'll do it, but you can't,
so I won't. Watch dog on Wall Street dot Com