The $3.5T Reconciliation bill will no longer allow 401K investors to pick the best stocks. They will be forced to select ESG low-performing stocks, that invest in companies that may underperform but meet the extremists demands on climate change, social justice, and gender equity issues.
This is in the Reconciliation bill. Democrats have taken this out under pressure, but then put it back in. It’s not going anywhere. You should know this is also art of The Great Reset plan.
ESG — equity, social justice, and gender — is the new socialist/communist investment plan. The Great Resetters want stocks to concentrate on corporation social credit scores over productivity. Ultimately, the goal is to force you to invest in what they want you to invest in.
It’s really happening. BLACK ROCK and NASDAQ want the FCC to impose their social credit goals on all public companies, and eventually the private companies. It is very CCP-ish.
The Wall Street Journal reports in an opinion piece:
BlackRock CEO Larry Fink has threatened to vote against director slates of companies that don’t comply with the Sustainability Accounting Standards Board’s environmental, social and governance (ESG) disclosures. Nasdaq is requiring companies that list on its exchange to include two “diverse” board members or explain why not.
[No more hiring on merit, hire people by insignificant physical attributes and persuasions.]
The SEC noted when blessing Nasdaq’s de facto diversity quota in August that studies on the “effects of board diversity are generally inconclusive.” However, Nasdaq’s proposal would “lead to more efficient collection and use of the information by investors.” Translation: This will make it easier for Mr. Fink to bludgeon non-compliant companies.
Democratic Commissioners Allison Herren Lee and Caroline Crenshaw issued a separate statement that “there is more work to be done in improving both diversity and transparency at public companies and in our capital markets more broadly.” In short, the Nasdaq rules are merely step one, and they want to broaden ESG mandates beyond public companies.
Unfortunately, bad companies focus on these sustainability and social credits to get people to buy their stock. Now, the problem is the government wants to force Americans to buy these bad or weak stocks.
Democrats do not believe in the free market. They see it as standing in the way of their goals because the free market demands efficiency. Extreme climate agendas and diversity are not efficient.
Smaller companies can’t always spend money on meeting environmental extremist standards.
This is Far-left Democrats controlling our lives, how we live, and how we invest so their friends can make money. The Great Reset/World Economic Forum, perpetrators of ESG investing, also want one bank globally, The Green New Deal, ESG investing, and they want you to do what they say.
Can someone explain how anyone can be compelled to buy any stock or bond? Forcing one to invest or spend their own money or assets is a violation of the US Coinstitution. BTW, I thank the author for informing me of the new “diversity” requirements of NASDEQ.