Fmr. Anheuser-Busch Executive: Corporate Leftism Is Driven by Investment Firms Who Are Pushed by Government Officials

Breitbart ^ | 3 Jun 2023 | IAN HANCHETT

[Mr. Mojo]

On Tuesday’s broadcast of the Fox News Channel’s “Jesse Watters Primetime,” Strive Asset Management Co-Founder and former Anheuser-Busch executive Anson Frericks said that asset managers like BlackRock, State Street, and Vanguard impose things like ESG and DEI onto companies because the asset firms are pressured into doing so by government officials.

Frericks said, “You take a look at BlackRock, State Street, Vanguard, they manage $20 trillion worth of capital, but it’s not their own money. This is the money that everyday citizens, firefighters, police officers, doctors, who generally have their money either [in] 401ks or, in a lot of cases, large pension funds, large pension funds like the State of California, which manages the largest pension fund in the U.S. and the State of New York and then European pension funds as well. And a lot of the politicians in those states, in California, for example, they recently have mandated those large pension funds that they divest from things like fossil fuels and oil and gas, and then when Bill de Blasio (D), Mayor of New York was there, he did the same thing. But they also tell BlackRock, State Street, and Vanguard, if they’re going to manage their money, they have to commit to things like ESG, diversity, equity, and inclusion and adopt firm-wide commitments that they, therefore, then force onto all the major companies in corporate America.”

[griswold3]

Agreed.

[neverevergiveup]

This is one important reason why those who think boycotting is inappropriate should rethink their position. Why should we not use the power of the purse when others are using it against us?

[jacknhoo]

Atheistic Neopagan Fascism.

[Sicon]

Sounds an awful lot like fascism to me.

[Highest Authority]

Publish the full names and all info on the top people involved.

[AndyJackson]

And by Blackrock and Vanguard who get sweetheart deals from the government in return for supporting this garbage.

[libh8er]

I am reading Woke Inc now and it’s exactly what the book says. Govt doing through the back door what it can’t through the front .

[Erik Latranyi]

Remember when Obama FORCED financial institutions to take TARP money even if they didn’t need it?

It was all about gaining a foothold inside so they could impose their top-down communist ideology.

[blackdog]

If you paid attention to appointments to the SEC, the nominee had to commit to woke investment initiatives as part of their regulatory powers. Those were hearings in front of your congressional representatives and the media / press.

So I'm not so sure where the outrage comes from?

[RoosterRedux]

Leftism may be pushed from the outside by investors like BlackRock, but it is pushed internally by Wokesters in Human Resources departments who have planted their people all over the organizational structure.

And don't forget Legal. They are filled with lawyers sensitive to the complaints of BLM and others who scream "racism" all the time. Legal backs up HR because to do so is to reduce the risk of discrimination suits by litigious minorities and perverts.

[ridesthemiles]

SOOOOOOOOOO-—

Large ‘investors’ are pushing this agenda & they lose BIG when the company tanks——

GOT IT.

[Erik Latranyi]

SOOOOOOOOOO-— Large ‘investors’ are pushing this agenda & they lose BIG when the company tanks—— GOT IT.

Remember "Too big to fail" coming from Obama? That is what gives these investors assurance that they will not have consequences from implementing DEI and ESG

[joma89]

Then these companies need to stop being dependent on these investment companies. Go private and buy back their stock.

[BobL]

This woke crap STINKS of Leftist Governments (Ukraine War supporters) in action. It just didn’t make sense for companies to drop the brand positioning that they’ve had for decades, if not HUNDREDS of years...just to placate a few cross-dressing nutcases. Now, knowing that Leftist governments have guns to the the heads of these corporations starts to make FAR MORE SENSE.

And, as Rush used to say, “Elections have Consequences”.

[Justa]

Did you even read the excerpt?

Nope.

It says politicians are pushing it onto investment firms via their leveredge with their state pension funds the firms hold.

[fuzzylogic]

I don’t understand those that are against boycotts. It’s a form of non-violent protest. If we do nothing they win and we head toward CWII.

You can only hurt these people where it counts, in the wallet.

That said, I didn’t realize that politicians were pushing these investment firms, I should’ve figured. I’d assumed it was just the WEF and alike that were infiltrating these firms and driving these policies. I should’ve considered more that when politicians realize the power of these firms, along with the fact that the Constitution only stops _government_ from violating rights, that it could be done via those holding all this power and influence via retirement accounts.

Obviously these companies have too much power. It’s a new form of fascism.

[Shadow44]

This is stupid, nobody is forcing the head of Blackrock or Vanguard to do this, they personally agree with everything being done under ESG.

[neverevergiveup]

Obviously these companies have too much power. It’s a new form of fascism.

Agree entirely. Monopoly isn't just about controlling specific products or services. It's also about monopolizing financial power that can and is wielded politically.

[Starboard]

Good points but there’s another piece to this puzzle. The asset managers hold tons of shares in public companies (enormous voting power) and have an outsized influence on who the executive board members will be and what policies they promote.