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Feb 20 • 8 tweets • 3 min read
So earlier this week a local Elmhurstian (Elmhurster? Elmhurstite?) asked me the question on everyone's mind: "why is Ron DeSantis coming here?" Sharing my theory, because it really goes to the heart of today's @GOP. Brief thread:
1/ Short answer: he's a racist and a coward who wants to secure the @GOP nomination for President. And Elmhurst fits the bill on all three fronts.
2/ He's a racist. "Chicago crime" is to 2023 what "Ebola" was to 2014, "Crackhead" was to the 80s/90s, etc. It's a racist dogwhistle. Desantis has to come to the Chicago region for the same reason that McCarthy has to go to the southern border. It ain't for knowledge.
3/ He's a coward. Elmhurst is a safe place. The Elmhurst Knights of Columbus, at an event not open to the general public is even safer. He'll tell us some story after about meeting with Chicago P.D. But that's as brave as going to a resort in Cabo to learn about border security.
4/ He wants to get the @GOP nomination for President. He's here to say he met with Chicago law enforcement and uniquely understands the issues. He is fantasizing that this might give him a great soundbite he can use at some debate full of crazies trying to out-crazy each other.
5/ But it's not to learn about crime, it's not to be educated, it's not because he's going to win the precincts in Elmhurst and it ain't about the general election. The fact that he's a leading nominee for the @GOP nomination says more about their party than him.
6/ Anyway, if you want to see a small, weak man from a distance getting out of a limo as he runs into a private room so that he can tell everyone how brave he is, here's a way to do so. Bring a good zoom lens!
7/ And if you just want a good chuckle (or a good cookie), read this. Fun fact: Hitler-loving Art Jones, mentioned in this article was the @GOP nominee for #IL03 4 years ago. Still waiting for "good Republicans" to condemn him. Or Ron DeSantis. /fin chicago.suntimes.com/columnists/202…

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More from @SeanCasten

Sean Casten Profile picture
Feb 20
Many of my colleagues across the aisle are silent today as one of their colleagues calls for sedition and disunion. She is not the first to oppose the United States from within and will not be the last. But take a page from history, my friends, and find the courage to stand up:
"Character is much easier kept than recovered, and that man, if any such there be, who, from sinister views, or littleness of soul, lends unseen his hand to injure it, contrives a wound it will never be in his power to heal..."
"...that which must more forcibly strike a thoughtful, penetrating mind, and which includes and renders easy all inferior concerns, is the UNION OF THE STATES. On this our great national character depends..."
Read 6 tweets
Sean Casten Profile picture
Feb 20
Every year or so I update this chart and it never ceases to amaze me. On an annualized basis (so adjusted for seasonality) renewables contribute more to our grid than coal. And that's about to be true even for more variable non-hydro sources. Image
There is an entire political economy analysis to be done here. King Coal reigned supreme for so long that they extracted massive subsidies from state, local and federal government. They would have died much sooner without it. But they still punch way above their weight.
Consider how many boondoggle coal-with-carbon-capture projects still get built. What other industry that lost 30% market share in just over 10 years still convinces politicians that they'll be fine if they can just get one last fix?
Read 13 tweets
Sean Casten Profile picture
Feb 17
This is shocking, if entirely unsurprising. We ignore climate financial risk at our peril: "...homes in flood zones are overvalued by as much as $237 billion."
grist.org/housing/homes-…
We've introduced multiple bills in the House over the last two terms to address these risks for banks, and non-banks, and to modernize SEC risk disclosure. But we have so much more to do.
Risk doesn't care about your feelings - but being honest about climate risks means grappling with the terrifying politics of voters suddenly realize that the thing they thought was valuable is not. See here from IN. eenews.net/articles/how-i…
Read 5 tweets
Sean Casten Profile picture
Feb 15
In light of today's news about David Malpass stepping down, let's chat briefly about climate change and global finance. nytimes.com/2023/02/15/cli…
1/ We are witnessing massive movements of capital in response to climate change. One of the most comprehensive reports on that movements was issued by the CFTC in the Trump White House. I recommend reading the whole thing. cftc.gov/sites/default/…
2/ Some of that movement is a flight away from risk. Insurers raising premiums or simply refusing to cover property in flood- or extreme-weather prone regions. Banks off-loading risk onto tax payers or less sophisticated players.
Read 10 tweets
Sean Casten Profile picture
Feb 6
So much of the anti-ESG movement is just people who are bad at business, whining about their own failures to keep up with market forces. indianapublicradio.org/news/2023/02/l…
Suppose you were the CEO of a company that made a product with collapsing demand and you had failed over the last 10 years to pivot to a new strategy. Banks would understandably pivot away from you! But not this guy:
...less than a decade ago, they raised $500 million in capital between 15 banks.

“This time around I expect the number... to be six, instead of $500 million to be $100 million. Our average ratio instead of being three and a half times is reduced to one. So think about that,”
Read 5 tweets
Sean Casten Profile picture
Feb 2
Today, the @HouseGOP is bringing a bill to the floor to "denounce socialism in all it's forms". Let's unpack that: a bunch of people who have a taxpayer-funded job, many of whom have never worked a day in the private sector are denouncing socialism. Riiiiight. Brief thread:
1/ This bill is non-binding. It will serve no purpose but to let clowns appeal to idiots who depend on the social safety net but like to cosplay as Ayn Rand-readin', gun-totin' independent capitalist cowboys.
2/ The text itself is a doozy. Give it a read and ask yourself what possible good it does that we are chewing up finite time and 435 members salaries (not to mention all the staff) to do this. congress.gov/118/bills/hcon…
Read 18 tweets

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