How exactly should we read President Trump's meetings with Putin, Zelensky, and European leaders? Andrew S. Weiss weighed in on today's Carnegie Connects. Listen to the full discussion with Andrew, Eric Ciaramella, and Aaron David Miller here: carnegie-connects.simplecast.com/episodes/can-t…

🧵 As Americans grow more vulnerable to extreme weather and natural disasters, the country’s infrastructure will have to adapt. In two new Carnegie papers, Susan Crawford explains what’s at stake and charts a path forward ⬇️

Wall Street’s AI bubble gets headlines, but there's important news about accelerating warming. New studies about abrupt Antarctic melting and a looming collapse of Atlantic ocean currents—flooding and chaos for millions are closer than we think. open.substack.com/pub/susanpcraw…

Susan Crawford’s smart point//The market fell on news suggesting the AI bubble could be about to burst. If only people paid as much attention to news about climate risks.

The risk that really matters isn't on Wall Street open.substack.com/pub/susanpcraw…

Most home insurance rates aren’t driven by climate risk but mainly by credit scores. Crucial price signals about danger get lost, while lower-credit (often lower-income) Americans pay the most as risks climb. Needed: pricing transparency from insurers. open.substack.com/pub/susanpcraw…

Markets’ capital allocation functions are distorted because we fail to demand impact risk pricing. Excellent example Susan Crawford: credit scores, not physical risk, drive insurance. But, higher credit scores subsidized to live in disaster risk areas. Why? susanpcrawford.substack.com/p/how-insuranc…

Rob Majteles Susan Crawford Distortion in insurance pricing is just one symptom of a broader issue - our failure to accurately price risk. This has far-reaching implications for capital allocation, as Majteles pointed out.

Right now, municipal bonds are booming, but few investors—or rating agencies—are facing up to long-term climate risk. With extreme weather rising and climate threats mounting, today’s muni bond mania could be tomorrow’s bubble. open.substack.com/pub/susanpcraw…

"It is just mind-numbing that there's just so little attention on the credit side in terms of this [climate] risk in the municipal bond market," Tom Doe of Municipal Market Analytics told Susan Crawford #munibonds

What will it take for investors to price any climate risk, anywhere? “Betting on bonds, ignoring climate risk: mind-numbing that there's just so little attention on the credit side in terms of this [climate] risk in the municipal bond market” Susan Crawford susanpcrawford.substack.com/p/betting-on-b…

Toxic landfills and storm surges don’t mix: when hurricanes hit, they can unleash leachate, methane, and poisons into water and soil. But bond markets ignore the risks. Column today - open.substack.com/pub/susanpcraw…

Investing in a beach house? You’re making a bet—just like traders in crypto perpetual futures. There are risks you can’t control, from sudden price swings to back-to-back climate disasters. In 2025, holding property in harm’s way is close to speculating. open.substack.com/pub/susanpcraw…

Climate risk hammering LA’s housing market: insurance harder to get and more expensive, homes stuck on the market, price cuts happening. Insurers and the state’s FAIR Plan reel. Market repricing underway. Investors and the Fed still looking the other way. open.substack.com/pub/susanpcraw…

California’s FAIR Plan seeks 36% rate increase as wildfire risk and insurer exits surge. With $650B in exposure but just $1.5B cash on hand, the math no longer works. Homeowners face costly coverage, rising assessments, and a volatile market going forward. open.substack.com/pub/susanpcraw…

Taking Fannie Mae and Freddie Mac public harnesses American faith that markets always rise and housing always recovers. But the mortgage giants hold loans tied to climate‑vulnerable places. Public still on the hook. open.substack.com/pub/susanpcraw…

Good read on a challenging topic and a plan that makes very little sense.