1677 ESG Veto, was he taking a nap when 'they/them' did this? (media.patriots.win) 🚽 DRAIN THE SWAMP 🚽 posted 75 days ago by MidnightDriver 75 days ago by MidnightDriver +1680 / -3 83 comments download share 83 comments share download save hide report block hide replies
My 401k gonna make so much money when it's invested in climate change awareness, transgender activism and Chinese made solar panels!!!!
FTX and SVB have already paved the way for you.
i get the sarcasm, just pissed its gonna destroy lives of many Americans whose retirement at old age is sold out to frw gambling ESG faggots.
It’s a method of control. Tie your finances to it so you are forced to support the system, or be destitute. The same “no jab, no job” principles in play. Only way out is a parallel system, and the inevitable destruction of “woke” in all forms, less we suffer our destruction instead. Coexistence is not an option.
Then maybe the current group of retirees who were around for the push to move from pensions to 401k's, and were all for it, should have realized the mess they were creating for themselves.
That's one of the various reasons the stock market should in no way be as central to daily life as it has become. It should be a side thing that companies can do if they want a bit of extra funding, not something that people worship as the economy.
Then direct it yourself and invest in overall market ETFs.
Most ETFs are composed of ESG tap dancers anyway
Because most of the market is into woke shit. You do that as a company past a certain size.
Or short the ESG faggot companies?
Also, isn't their an Anti-Woke Not-ESG index of companies?
No, you short selling doesnt cause their stock to dip. You buying puts doesnt cause their stop to dip as that means someone was willing to sell you that put.
I'm thinking the ESG faggot companies are going to fail for their woke idiocy sooner than later. Putting diversity hires in key positions will have predictable results.
The sad thing about that is most publicly traded companies have some sort of DEI shit going on.
:::SVB has entered the room:::
You think it's invested in that, but the Democrats are doing Solyndra 1000 times over using ESG and many of these companies or the initiatives they're pursuing to get that ESG rating exist to launder money.
ESG is horrendous for some businesses. A lot of corps are trying to get out of it. BlackRock and faggot Fink are responsible for this push.
Holding a gun to the heads of corps. But because of limitations and regs, their bottomline gets a lot closer. It is already a failure because of this.
Everything is done for a push to consolidate small companies into the big, then big controlling the masses. This is what is happening in the banking sector. This was never about money. It was always about control.
Once the banks are consolidated into the too big to fail, that's when they pull their move into forcing the CBDC. And you won't have a choice unless you go gold, silver, btc. They're desperate now. They need this now and Trump will fuck it all up for them.
you joke. look at the gender-activism index fund SHE vs S&P500.
dem activist investments are strictly worse than just investing following S&P500.
This is probably to prep folks for when he "vetoes" the 100% bipartisan (never happens) investigation into the origins of COVID.
Naw. The only reason that will pass is because they won't actually publish the real origins, just a cover story that they say "this time really really believe us"
How does one veto an investigation?
POTUS has no say in how the House conducts its affairs.
And since it was unanimous its veto proof.
How did we all overlook that?
Prolly the constant dissapointment in how things fail to work out for our side. Watch this get vetoed anyway.
ESG governance is more important to the elites than covid truth imo
Says that the legislation would have "overturned" the rule that allows considering ESG. So if he didn't veto Labor Dept would NOT have been allowed to consider ESG any longer.
OP makes this sound like a mistake, but the way I read it, I would have expected this veto because they want ESG
RIGHT! I've read this 10 times, and it doesn't make sense the way its written. So right now the labor department has a rule letting plans consider ESG. The new law would remove ESG as a consideration. Therefore Biden would obviously veto it because he wants ESG. Did I interpret this wrong? There is no mistake on Biden's part.
Was going to echo this - you cannot not have ESG.
The veto isn't normally used that liberally.
Right now everything is ESG which entirely allows companies to hire only black people and make performance based on your commit to saving water and preventing other bullshit green propaganda.
That's how I read it. This is a bad thing.
"Consider ESG principles". That's why he vetoed it. He doesn't want consideration, he wants to make it mandatory.
Legislation ruled against considering ESG in 401k. Biden vetoed that.
Your comment reads as though legislation allowed for considering ESG in 401k, with Biden vetoing that which would be incorrect.
Hey, listen Jack, when you're signing things with a big rubber stamp it's easy to mix up the "stamp" and "don't stamp" piles. I mean, c'mon man!
- Joe Biden
This worked well for Silcon Valley Bank.
ESG principles in investing are a violation of fiduciary responsibilities. One invests money to maximize profit on behalf of whom you make the investments. It's not "for the earth" or for affinity groups like BLM, or #MeToo. When these plans have our retirement savings, it's sure as hell not to invest in things that make LESS money than they otherwise could have made, but so that we have money for our retirement. Something insane must be happening with the powers that be for class action attorneys not to have sprung into action on this. ESG investing is just another way of saying, "we forego profit in order to force you to donate to our political pet projects." It's illegal as hell, but shitlibs only follow the laws they agree with, e.g. "sanctuary cities."
Correct, but that's where this "stakeholder capitalism" crap comes in. Business schools have been teaching it for years, telling people that your goal isn't to maximize profits, but to "maximize the benefits to all stakeholders."
Like if your supplier is overcharging you, you're not supposed to switch to a cheaper supplier because the supplier is your "stakeholder"? It never made any sense, it was always just feel-good marketing dressed up to look like it made sense.
This explains a lot. I'm 20 years out of school, and I've occasionally wondered "WTF are they teaching these days?" Your explanation about stakeholders clears things up considerably actually. Thanks.
They are teaching people to think irrationally so that they don’t realize they are being manipulated.
It's just marketing but people are actually starting to believe it. Businesses exist to make money. Corporations exist to maximize profit. It's just true. It's why they exist. But good luck getting any CEO to ever say that. They have half a dozen ways to dance around it because they know it makes for a bad soundbyte.
And this is how socialists sell capitalists the rope that they will use to hang themselves.
There you go, Biden is controlled by Klaus Schwab and his Degenerate Army.
Klaus Schwab meets Charles Schwab… and it doesn’t end well
Umm the logic is hard to follow here but my read says they voted AGAINST ESG investing for retirement plans, so Xiden overturned that with a veto
ESG = Everything So Gay
Such faggotry everywhere.
Because ESG effectively nationalizes Neo-Marxism. It's utterly amazing to me this shit is just being imposed with almost no pushback from actual American citizens.
It doesn't surprise me at all that leftists are trying to do it, but Americans have clearly been dumbed down to a dangerous level. ESG should be grounds for revolution in a free society.
Overrule it Kevin McCarthy
Companies are beginning to ditch ESG on their own, the only way the WEF can keep it going is to make it mandatory and make everyone bear the brunt of it.
I hope that's true. Vivek Ramaswamy has been blowing the whistle on this crap. Feels like people are finally paying attention. Red states are pulling their pensions out of ESG funds. The wokest and highest ESG companies are failing and getting mocked for it. Half the country is dancing on SVB's grave. Twitter is in Elon's hands and companies are getting mocked whenever the hold a drag queen event or whatever. Disney got spanked by Florida and Delta got their tax break taken away. DEI staff is getting laid off in droves, and being banned outright from universities in FL and TX. Now there's a bipartisan bill in Congress that Biden had to veto? Yeah this trend is on its way out.
Those are all great signs of things to come I believe. Even Vanguard signalled recently that they're pulling out. This veto override is an attempt to keep ESG on life support, but it is already souring in the public eye at a rapid pace (much like you said with DEI getting laid off everywhere). If there's no willpower behind it they will have a hell of a hard time enacting it, especially since ESG is a mouth that no one wants to put their money in anymore. A bad investment will always be a bad investment.
Which companies are doing ditching it? I've only seen a rapid increase in even non-Blackrock, Vanguard SSgA mafia owned companies adopting ESG. Perhaps in the hopes of becoming part of the mafia before they suffocate all other competition in order to gain total control.
You pretty much got the right idea, they're all in a rush to push it though and get in on it. Blackrock has the most riding it. Vanguard, however, appears to be heading the other direction. States are pushing back as well and there's even some blue areas pushing back on it (believe it or not)
It's also worth noting that DEI "workers", who are heavily funded by ESG, are being kicked out of companies
More bad news from ESG land
I chose to share MSM articles because you can feel the cope when you read between their lines
Can't wait for my 401k to say that I can't invest in oil companies because of their climate.
Instead they can push that money into transvestites' united because they help the climate by cutting their dicks off.
ESG is the core of their plans, it's the way they keep corporate America shackled to wokeness even though get woke go broke.
My 401k still hasn't recovered from Biden getting elected. It did better during covid than it did under the Biden administration.
Oh man I almost went an entire minute without being reminded that Biden is a faggot.
let me make sure I understand it correctly, there is a Labor Dept rule that allow retirement plans to consider ESG principles, there was a bipartisan legislation to overturn that rule, and Biden vetoed it. did I get it correctly?
This wording is extremely confusing. Did he veto legislation that would prevent ESG from being considered in retirement plan investing or did he veto legislation that would have allowed for it? It sounds like there is already rules on the book that allow for ESG and the legislation was trying to close that loophole but I'm not entirely sure that's the case here. Anyone more familiar with this that can pipe in?
Hey man, how else is Hunter going to get his bribes and give the big guy his 10%
the way this reads is something like: 'shall the government not allow the government to not allow the government to steal money from the taxpayer'
"The veto comes after the Senate voted 50-46 March 1 to pass a resolution blocking a Labor Department rule allowing for certain retirement plans to weigh environmental, social and corporate governance factors when selecting investments, instead of making decisions based solely on the best rate of return."
Yes!!!! Like all wise businessmen, invest in strip clubs letting minors strip!
ESG is no longer about making more money. They have more money than they know what to do with. ESG is purely about power and control. Suffocating every other competing entity. The global elite's final solution is on the way. Eternal digital tyranny. Get ready.
Never invest with anyone that even mentions ESG, unless the mention is shitting on it.
He struck down overturning it, which means he used his veto to enforce its continued operation.
It's like 2/3ds to overrule a veto right? Get working GUYS
You got it backwards.
I would consider ESG principles to be risky for investors...
It's possible that a lot of the climate change startups are funneling money to WEF and the uniparty.
Why did he veto it? Not clear it was due to the ESG changes... though it probably was.
There is no 2/3 majority to override this veto, not even close. Only 2 D Senators voted with Republicans on this legislation: Joe Manchin and Jon Tester.
It's not "If you go woke, you go broke." It's rather "If you're broke, then you go woke." They need to sucketh that ESG for global investors to make it rain.
Doesn't matter. We are heading into very hard economic times. No ESG business will survive.