Banks, asset managers should ignore calls for ESG and woke capitalism and stick to what they do best
Fox News
By promoting ESG, the Left uses capital, the banking industry and Wall Street’s largest asset managers to shape policy in ways they can’t achieve through the legislative process.
In the first six months of 2022, BlackRock lost $1.7 trillion of their clients’ money. Similarly, Sri Lanka had a nearly perfect ESG rating and was lauded globally by liberal elites, yet it was forced to declare bankruptcy, and its president was forced to resign after the country could no longer afford basic fuel and food for the nation.
The Left uses capital, the banking industry and Wall Street’s largest asset managers to shape policy in ways they can’t achieve through the legislative process. Now agencies from the Securities and Exchange Commission (SEC), to the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Consumer Financial Protection Bureau (CFPB) want to get into the ESG business.
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