West Virginia Blocks Wall Street Titans Pushing ESG Agenda
West Virginia blocked five major Wall Street banks Thursday from doing business with the state for pushing a green agenda, Environmental, Social and Governance (ESG).
How Republican-led states are targeting Wall Street with ‘anti-woke’ laws
More States Follow Florida’s Lead With Anti-Woke Business Laws.
ESG May Be an Antitrust Violation
The biggest antitrust violation in history may be in plain sight. Wall Street banks and money managers are bragging about their coordinated efforts to choke off investment in energy.
ESG Investing—The Great Wall Street Money Heist
ESG refers to the Environmental, Social, and Governance risk theoretically embedded in a business. However, while ESG investing is about taking these risks into account in investment decisions, these are all the things NOT on a company’s balance sheet or earnings statements. Such is the inherent problem.
Wall Street’s Pandemic Bonanza
Two years to the week after the first covid-19 cases in this country were confirmed, it’s increasingly clear who the biggest economic winners have been. The tech giants that benefitted from the shift to remote work, such as Amazon and Microsoft, are the most obvious ones, but the list also includes major Wall Street banks and large financial firms. Last Friday, JPMorgan Chase, the biggest bank in the country, announced that it had made a post-tax profit of $48.3 billion in 2021. Nearly fifty billion dollars. That’s about thirty-five per cent more than the thirty-six billion dollars that JPMorgan Chase made in 2019, the year before the pandemic, which was itself a record figure.
Christian investors, what are BlackRock and other Wall Street giants supporting with your money?
One of the little secrets about these money management firms is that they don't just get to make money on your investments as a client (which, of course, is fine), but that they get to vote on your behalf about a wide variety of social and political corporate policies according to BlackRock's value system, and not yours.
Mainstream Media Has Morphed from Battling the Fed in Court in 2008 to Groveling at its Feet Today
It’s now day 13 since the Fed released the names of the Wall Street trading houses that borrowed $4.5 trillion cumulatively, just in the fourth quarter of 2019, from the Fed’s repo loan facility.
SEC Chief to Wall Street: The Everything Crackdown Is Coming
The joke in Washington is that Gary Gensler could inspire his own version of the game, “Drink Every Time…” The rules: Down a shot every time the U.S. Securities and Exchange Commission chief says he’s “asked the staff” to consider new regulations.
Conservative investment funds take aim at ‘woke’ corporations
Fortune 500 corporate boardrooms increasingly have embraced a “woke” agenda — such as Gillette lecturing its shavers about toxic masculinity and Bank of America having guest speakers declare capitalism evil. In response, some Wall Street players now are offering exchange-traded funds (ETFs) that exclude left-wing companies, taking a page from the activist playbook that created investment programs to boycott enterprises deemed environmentally unfriendly.
On ‘Capitalism, Socialism and ESG’
For the better part of a century, the Left has been waging a slow, methodical battle for control of the institutions of Western civilization. During most of that time, “business”— and American Big Business, in particular — remained the last redoubt for those who believe in free people, free markets, and the criticality of private property.
Capitalism, Socialism and ESG
Big claims are being made for ESG (environmental, social, and governance) investment strategies: ESG will reconcile society to capitalism while making investors—and Wall Street—more money. BlackRock, the world’s largest fund manager, is pushing ESG as part of a marketing pitch to millennials, who put “improving society” ahead of “generating profits.” Much of the buy-side pressure for ESG comes from state and municipal pension funds playing politics with taxpayers’ and pensioners’ money, many of which are in poor financial shape.