Posted on 06/01/2022 4:02:59 AM PDT by MtnClimber
The greatest enemy of America’s financial future is not any foreign nation, government regulator, or dangerous ideologue. The existential threat to America today is the “woke” financial establishment. It is presently politicizing business and weaponizing investment in policies that will have a devastating effect on America and the world.
Big business has always tended to be politically liberal. Over the decades, major companies have supported causes that seemed to work against their self-interest. Such action has rarely prevented them from registering profits or jeopardizing stockholders’ investment. Many thought that by groveling to these leftist causes, they might buy the support of rich liberals and favorable media. There was always a calculation with an eye on a return on investment.
Moreover, these causes are very unpopular among American consumers and the general public. Companies used to exercise some caution, fearing the backlash from appearing too radical. The danger of the saying “go woke, go broke” was only too real.
Introducing New Tactics to Force Compliance
However, those pushing for change are now employing different tactics that sidestep public rejection. The forces being brought to bear upon corporate America come not from woke corporate boardrooms but activist index funds suddenly empowered as enlightened “stakeholders.” Politicized investment managers want to call the shots and push companies to tow the leftist line.
(Excerpt) Read more at americanthinker.com ...
The ESG scores being pushed by Blackrock and Vanguard are the way they are pushing wokeism on other companies. They are forcing woke rules that could never be passed as laws.
Not just companies, small farmers like us.
SEC Published May 26
SEC’s proposed ESG rule will leave small farms in the lurch, lawmakers from both parties say
Farmers would be forced to give onerous climate data to public companies under SEC’s proposed ESG rule, lawmakers warn
Gary Gensler, SEC chair.
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