Hypocritical Wall Street are Just Left-Winged Activists Using Your Money For Selfish Purposes

the most prominent banks in the country are being led by Democratic Party operatives in their near-religious dedication to environmental, social, and governance (ESG) norms.

A 47-page analysis detailing the connections between the “Big Three” institutional stakeholders; BlackRock, Vanguard, and State Street with Democratic lawmakers with a history of radical activity was released on August 9 by the American Accountability Foundation (AAF), a nonprofit government watchdog.

“The number of liberal staffers that are now serving in influential roles in financial firms raises the question — has a new ‘revolving door’ come to Washington?” analysts penned in their report memo. “While traditionally D.C. staffers will go from official positions to K Street — there now seems to be a new trend emerging of D.C. staffers going from official positions to Wall Street.”

BlackRock CEO Larry Fink said, none of it is their money, referring to the roughly $22 trillion in assets managed by the “Big Three.” This study was titled “‘None of It is Our Money’: An Introduction to the Leftist Activists and Liberal DC Insiders at BlackRock, Vanguard, and State Street Using Your Money to Advance Their Political Agenda” because the assets at stake are pension funds, 401(k)s, and IRAs funded by taxpayers.….










Read more: https://trendingpolitics.com/hypocr...-using-your-money-for-selfish-purposes-olarm/







The move of Democrat staffers from Washington DC to Wall Street is now being widely felt. They are coordinating with liberal fund managers and owners to control our passive accounts with mutual funds and ETF’s. They are managing our money and voting our shares in the companies invested in to advance policies that are anathema to main st small investors.

 

Red states and local governments are now pulling their retirement and other investments out of those investment firms and individual investors like myself are doing so as well. I started by getting out of Black Rock and Vanguard energy ETF’s and bought DRLL. Now it’s time to unload all funds from those three companies with equivalents from anywhere else.

 

Another victim of the boogie man thread.

 

Social Justice investing... More fleecing of uninformed sheeple. The best thing that can be done is to ignore these funds, as they die quiet neglectful deaths. Good riddance. When your investment fund folks fly around on Private aviation, and they force you to walk... the incongruity of it all makes for the ultimate do as they say, but not as they do.

 

More evidence that the left is bitter that their actions have been exposed and called out so they blame the victims of said abuse rather than their perps.

 

They are huge funds managing trillions against us. Ignoring is not enough. We need to pull out of them and invest in their competitors directly. These three firms our controlling our money and leveraging it against us.

 

Boo!

 

The won’t be saying that as investments and the companies we invest through and in become as partisan as everything else. Sell vanguard, black rock, and state street. Take away their power to control our lives.

 

That you believe your life is being controlled says it all. You really are a victim

 

The super rich don't really care about political agendas.

They do things because they decide it is profitable.

If they think promoting trans rights is profitable today, they will do it.

Tomorrow if they think promoting the KKK is profitable, they will do it.

 

Exactly. These types of companies are all about making as much money as they can. They will never be led to make less money

 

Message to the right-wing media echo chamber: If you run into an ******* in the morning, you met an *******. You run into *******s all day, YOU'RE probably the *******.

 

OK. You do that, and let us know how it turns out...

 

You are going to sell VDE and move into DRLL instead? If you look at the holdings they are almost identical. So I am guessing it has nothing to do with investing in ESG companies because they are essentially the same. That leads me think you disagree with voting practices of the fund managers.

Lets take the top holding of both funds: Exxon Mobile (XOM). Both funds hold around 22%. Which voting did the Vanguard fund managers vote on that you disagreed with? Was it a particular corporate action? Was it a director you did not like? Was it an acquisition? If you have no idea then you are just a SJW that is willing to change your investment portfolio on a whim to troll the left.

 

LOL, you can always put your money in a can, bury it somewhere, draw a map for you to remember where it is, and not complain again.

But the moment you put your money in a mutual fund, an EFT or other types of passive accounts, the professional managers will handle the whole account to maximize the yield possible, not you.

 

Breaking Up the ESG Investing Giants.

'Three of the largest investment shops in the U.S.—BlackRock, Vanguard and State Street—have long used their dominance in passive-investment funds to force corporations to comply with their preferred set of environmental, social and governance policies. Their reign, however, may be nearing its rightful end, as America’s law enforcers are waking up to the threats the Big Three pose to investors and the economy.'

BREAK THEM UP!

'In an Aug. 4 letter to BlackRock CEO Larry Fink, 19 state attorneys general questioned how the company’s ESG advocacy squares with its fiduciary duties to investors. The attorneys general specifically raised whether BlackRock’s “coordinated conduct with other financial institutions”—i.e., the two other investing giants—to demonetize the oil-and-gas industry raises potential antitrust issues.'

IT DOES. NEVER TRUST A FINK.

'The attorneys general are digging into an important matter, but there is a much more worrying question they must explore: Why are the Big Three pursuing these policies in lockstep? Why have no institutions in the financial-services industry except one—the recently launched Strive Asset Management—opted to place the investor first, by giving priority to profit over social issues? The seeming answer raises concerns far beyond the Big Three’s anti-oil-and-gas collusion.'

THEY ARE COLLUDING

'Through their management of passive investments, the Big Three collectively hold the largest voting blocs for nearly the entire S&P 500. Among them, they control a predominant share of the exchange-traded fund, or ETF, market, and of most participants in nearly every other market. Two of the three (BlackRock and State Street) are publicly traded companies, and so their officers disclose under oath in regular federal filings their institutional shareholders. In this paperwork, they regularly tell us not only what they own, but who owns them.'

SO WHO OWNS THEM?

'The answer reads like a punch line: The Big Three own each other and themselves.'

CONVENIENT

 

I’ve already started. So far so good.

 

TIME FOR SOME GOOD OLD FASHIONED TRUST BUSTING:

Prosecuting these colluding 'companies under Section 7 of the Clayton Act—an antitrust statute, enacted in 1914, that bars any stock acquisitions or ownership that “may substantially lessen competition.” Those concerns should be even stronger when the players in question not only own but control each other. The U.S. hasn’t seen this sort of corporate entanglement since Teddy Roosevelt and William Howard Taft busted the original trusts a century ago.'

BREAK THEM UP!

'The Big Three’s present relationship explains why none of them defect from the ESG game. They can’t, because they’re not independent actors. The few other genuinely independent actors in the system—such as Fidelity—are privately held and controlled by families wealthy enough to prioritize luxury beliefs over productivity. Similarly, ownership and control explains why no other major player in the American financial-services industry defects and challenges the investing giants. State Street qualifies as one of the 15 largest banks in the U.S. The Big Three collectively hold controlling shares of 13 of the 14 others—with their directly controlled ownership shares ranging from about 17% to 25%, and their indirectly controlled ownership shares ranging from about 24% to 45%.'

MOST STRANGLING FINANCIAL ARRANGEMENT WE'VE SEEN IN OVER A CENTURY:

'No substantive competition exists within the ESG paradigm because under the noses of our antitrust regulators the Big Three have acquired shared control over one another and almost every potential competitor. That’s not a situation that can be fixed with probing letters or industry-specific litigation alone. We’re now facing the original problem that Congress wrote American antitrust laws to address—coordinated ownership of everything by concentrated cliques pursuing their own priorities at the expense of the common good.'

These 19 brave and courageous State AG's are putting up a good fight, but, they need to aim higher, they need to go after the head.

 

Unless you invest in Stash and buy fractional shares of individual companies and mimic the investments of a managed fund on your own. Or find funds whose managers aren’t diametrically opposed to your ideas.

 

Great post. Let’s cheer the 19!

 

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