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Grift Capitalism: The GOP’s Brilliant Strategy For Ripping Off Ordinary Americans
Forbes ^ | Jul 5, 2022,04:59am EDT | Robert G. Eccles

Posted on 07/24/2023 7:50:17 AM PDT by JayGalt

...In this little video the confident and smooth Ramaswamy is almost mesmerizing in creating his own upside down world regarding fiduciary duty and ESG. Although he admits to his sympathetic interviewer that he doesn’t know what ESG is, he boldly asserts his commitment “to put excellence over politics.” (Keep this in the back of your mind as you read further.) He earnestly attacks “The Big Three” of BlackRock, State Street, and Vanguard as being driven by ideology rather than returns. “It’s the money of everyday American citizens that’s being used to advance this ideology that most of them disapprove of.”...

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Government; Politics/Elections
KEYWORDS: election; presidential; vivek; woke
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..Sorry to trouble you with a fact Mr. Ramaswamy, but these asset managers have a fiduciary duty to maximize the long-term returns of their clients. It is you, not they, who is the ideologue and the one who is playing politics. One of your major bête noires, BlackRock, has made clear they understand their fiduciary duty. In their January 2022 “BlackRock Investment Stewardship: Global Principles” report, the first sentence reads: “BlackRock’s purpose is to help more and more people experience financial well -being.”..Grift Capitalism is going to transfer potentially trillions of dollars in the pension funds of ordinary Americans to potentially less capable—but politically correct in the grifter sense—asset managers. ..
1 posted on 07/24/2023 7:50:17 AM PDT by JayGalt
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To: JayGalt

Ramaswampy is perfect proof that Americans of today, even supposed conservative ones, are mesmerized by smooth talkers, and too lazy to do any actual research, much less critically analyze that data.

To think a Hindu, big pharma exec, who championed a medical tracking database of all Americans, and claims he never even voted for most of his adult life can be trusted as President is ridiculous.

This guy is just a big of a cut out as Obama was.


2 posted on 07/24/2023 7:59:01 AM PDT by Golden Eagle (Ultra Conservative)
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To: JayGalt

Forbes is a Chinese owned rag.

I read your 1st comment 3 times and still have no idea what you’re trying to convey- besides using FR to shill for the low scum at Blackrock.


3 posted on 07/24/2023 7:59:25 AM PDT by AAABEST ( NY/DC/CA media/political/military industrial complex DELENDA EST)
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To: JayGalt

Did you actually read this article?


4 posted on 07/24/2023 8:00:17 AM PDT by traderrob6
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To: Golden Eagle

How much college scholarship did Soros provide him??


5 posted on 07/24/2023 8:01:37 AM PDT by ridesthemiles
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To: JayGalt

ESG is far from a Republican strategy, although the anti-Desantis wing of the party needs to put more fight into the effort to stop it.


6 posted on 07/24/2023 8:01:48 AM PDT by Socon-Econ (adi)
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To: JayGalt

You have made it your mission to tear down Vivek, the guy actually committed to the conservative cause and an American revival. And you quote who ? A “Tenured Harvard Professor” attacking Republicans. Not going to read that garbage.


7 posted on 07/24/2023 8:03:54 AM PDT by libh8er
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To: JayGalt

“asset managers have a fiduciary duty to maximize the long-term returns of their clients.”

That is their duty—which they are ignoring in the name of obeying Cabal orders.

If you can’t see that it is time for some new or better glasses.


8 posted on 07/24/2023 8:06:06 AM PDT by cgbg (Claiming that laws and regs that limit “hate speech” stop freedom of speech is “hate speech”.)
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To: JayGalt

He doesn’t understand that its not personal its just business.


9 posted on 07/24/2023 8:08:12 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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.

BlackRock’s purpose is to help more and more people experience financial well -being.

"More and more people" isn't the same as "shareholders."

That's the problem.

10 posted on 07/24/2023 8:22:24 AM PDT by Mr.Unique (My boss wants me to sign up for a 401K. No way I'm running that far! )
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.

BlackRock’s purpose is to help more and more people experience financial well -being.

"More and more people" isn't the same as "shareholders."

That's the problem.

11 posted on 07/24/2023 8:22:24 AM PDT by Mr.Unique (My boss wants me to sign up for a 401K. No way I'm running that far! )
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To: JayGalt

Ramaswamy looks to be taking his cues from a book called PONZI. His company is in increasingly negative profit territory with increasing overhead. Success is always in the next deal and they just need more money.

Still don’t like blackrock’s boy larry.


12 posted on 07/24/2023 8:25:29 AM PDT by Sequoyah101 (Procrastination is just a form of defiance.)
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To: libh8er
A “Tenured Harvard Professor” attacking Republicans.

Exactly. From the article:

Grift Capitalism is built on a strong foundation of four inalienable rights.

1. The right to privacy but only for straight white males.

2. The right for everyone to have guns even though many must die as a result.

3. The right to call concerns about climate change a conspiracy of the elite.

4. The right to decry ESG and Woke Capitalism as existential threats to America.

Eccles will say this about any Republican...even Trump.

Why Freepers would jump in with this guy is beyond me.

13 posted on 07/24/2023 8:37:35 AM PDT by Mr.Unique (My boss wants me to sign up for a 401K. No way I'm running that far! )
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To: JayGalt

Why do you believe that claptrap from the very Leftwing bishop of ESG???

https://roberteccles.com/

Talk about a grifter!!! How does ESG really work? It tries to go after companies for not being ESG enough by proposing that their efforts to make them more ESG friendly will hurt them in the long run if they don’t go along. Then then recruit and harvest all the Left wing forces they can from academia to everywhere else into fulfilling that threat by getting every to go after the companies that are not friendly enough to ESG.

Ramaswamy opposes all that, and yet you play into the ESG bishop’s attack on him.


14 posted on 07/24/2023 8:39:28 AM PDT by Wuli
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To: JayGalt

You just made my “no further read” list.


15 posted on 07/24/2023 8:41:32 AM PDT by Wuli
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To: Wuli
Ramaswamy opposes all that, and yet you play into the ESG bishop’s attack on him.

Rama didn't even know what the ESG is.
16 posted on 07/24/2023 8:41:50 AM PDT by Observator
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To: JayGalt

Bilgewater.


17 posted on 07/24/2023 8:46:14 AM PDT by gitmo (If your theology doesn’t become your biography, what good is it?)
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To: Observator
Rama didn't even know what the ESG is.

False. There's an entire chapter about it in his book that I'm currently reading.

18 posted on 07/24/2023 8:48:36 AM PDT by Mr.Unique (My boss wants me to sign up for a 401K. No way I'm running that far! )
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To: Observator

“Rama didn’t even know what the ESG is.”

You are quoting what the bishop of ESG said, not what Rama says. That claptrap bishop of ESG knows full well that Ramaswamy knows full well what so called ESG is:

https://www.wsj.com/articles/anti-esg-activist-investor-vivek-ramaswamy-presses-for-changes-at-apple-and-disney-11663684474


19 posted on 07/24/2023 8:49:38 AM PDT by Wuli
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To: JayGalt

ESG (environment, social, governance) is a particularly dastardly war against Christianity, humanity and the rule of law. IMHO, any, and every, organization that espouses support for ESG is vile and debauched.


20 posted on 07/24/2023 9:08:16 AM PDT by Montana_Sam (Truth lives.)
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