SEC Agrees to Insanity

This story is getting very little press. But just ponder the implications of the SEC's vote. Forcing businesses to acknowledge a bogus scientific theory, and then having that bogus theory affect their bottom line. This is a huge defeat in the war against global warming nimrods.

The commission, in a 3 to 2 vote, decided to require that companies disclose in their public filings the impact of climate change on their businesses -- from new regulations or legislation they may face domestically or abroad to potential changes in economic trends or physical risks to a company.

Chairman Mary L. Schapiro and the two Democrats on the commission supported the new requirements, while the two Republicans vehemently opposed them.

"I can only conclude that the purpose of this release is to place the imprimatur of the commission on the agenda of the social and environmental policy lobby, an agenda that falls outside of our expertise and beyond our fundamental mission of investor protection," Republican commissioner Kathleen L. Casey said.

I really can't wait to see how these companies address this requirement in their public filings.