Fox Business: 13 States Reportedly Wage Regulatory War on Vanguard Group Over Its Woke ESG Obsession

U.S. states have reportedly had it with leftist behemoth hedge funds like Vanguard Group exploiting woke environmental, social and governance standards to overhaul American culture into a leftist dreamscape.

Thirteen Republican attorneys general led by Utah Attorney General Sean Reyes (R) “filed a rare motion Monday” asking the Federal Energy Regulatory Commission “to prevent” Vanguard Group from “purchasing shares of publicly listed utility companies,” according to Fox Business. The reason? The hedge fund has a particular obsession for ESG investing. The AGs are reportedly asking “to hold a hearing examining whether Vanguard Group should be given blanket authorization to purchase large quantities of public utility stocks due to its support” for ESGs.

ESGs are wielded to coerce companies to change their corporate policies to abide by a leftist ideological structure on issues such as climate change and gender.

Sounds like they're referring to the pervasive woke Corporate America. Here's a fun little game: Try to find even one Corporate America Vice President of DEI (or Executive Vice President of Diversity) who isn't black. Good luck.

Corporate America pretends it's not racist. In fact, Corporate America is constantly bragging that it's relentlessly fighting supposed "institutional racism" and supposed "structural racism" at every turn by intensely pushing its DEI agenda and brain-washing all new employees with mindless DEI platitudes. So basically, Corporate America is saying: "Corporate America is extremely, institutionally and structurally racist, and we are extremely against our institutional and stuctural racism." (That's exactly how all Corporate America clueless CEOs think.) For those who still don't know, DEI stands for Diversity, Equity, and Inclusion.

It's clearly true that Corporate America continues enthusiastically promoting racism in its everyday activities. How so? Here's just one of many examples: Every major U.S. corporation has a Vice President of DEI. That executive position could alternatively be called VP for Diversity. And in every single case, at every corporation, the VP for DEI is black. The two required criteria for any Vice President of DEI position is: (1) a college degree (preferably in critical race theory or gender studies); and (2) being black. Comically, Corporate America believes nobody other than a black person can possibly comprehend and enforce DEI. Just as comically, Corporate America also thinks DEI is not ridiculously asinine (which it is). Yet all companies in America still laughably claim they're not racist. So, if you can find even just one non-black Vice President of DEI at any corporation in the United States, you win the Freeper Prize. Good luck because you'll need it ...

"I am not sure of the accuracy of a news report that describes Vanguard as a hedge fund."

EXACTLY my first thought. If you start off not knowing that the Vanguard Group is first and foremost is an investor-owned company, you're already losing credibility with me.

If you have any investment in a Vanguard sponsored fund, you are an owner - one of over 30 million other investors.

Where I can see this potentially being an issue is how Vanguard votes the shares they hold for benefit of the shareholders. I know I don't vote the shares of Exxon-Mobile held in an S&P 500 index fund with them.

So, do they throw their weight around in the corporate boardrooms - pushing DEI and ESG agendas? Are they just a rubber-stamp for what the board and corporate execs recommend when voting proxies? I don't know - but would like to know.

“Vanguard Group is first and foremost is an investor-owned company”

and just about the only big mutual fund company that is like that.

“So, do they throw their weight around in the corporate boardrooms - pushing DEI and ESG agendas?”

Vanguard have a few specifically ESG funds, so if you want that sort of investing you can choose those funds.

https://investor.vanguard.com/investment-products/esg

With their range of index funds, they own part of just about every publicly traded company, but they don’t compare to hedge funds and private equity funds which really do get involved in the companies they own.

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