New research first reported on Friday by The New York Times suggests banks are shifting mortgages made riskier by the climate emergency over to financial institutions backed by U.S. taxpayers—findings that “echo the subprime lending crisis of 2008, when unexpected drops in home values cascaded through the economy and triggered recession.”

Readers described the Times report as “huge” as well as “fascinating and provocative.” It elicited immediate critiques and concerns regarding banks’ actions and the sweeping potential consequences for American taxpayers and the global economy.

It turns out they are protecting themselves, but not by issuing fewer mortgages. They’re just dumping them on taxpayers, a new study says.https://www.nytimes.com/2019/09/27/climate/mortgage-climate-risk.html …

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