When the people find that they can vote themselves money, that will herald the end of the republic.“ - Benjamin Franklin.
“When people get used to preferential treatment equal treatment seems like discrimination.” - Thomas Sowell
Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler
Last edited by DGUtley; 11-30-2022 at 06:38 AM.
Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes
Actually that isn't exactly true. These funds are taking over in the pension markets, led by Black Rock. I have been following this issue here.
Like you, I don't care if these funds are available in the market for those who want to invest in.
The problem is that the ESG advocates are getting the SEC to use its rulemaking (regulations) authority to change the fiduciary duties (maximize profits for shareholders) to include environmental, social, and corporate governance issues (ESG). These issues by no means are profit generators, especially short term, and likely lose money. They should not be added to the fiduciary concept nor should anyone be forced into these questionable investments. Especially with retirement funds that they often have little control over.
See my thread for detailed coverage, link above.
Last edited by Peter1469; 11-30-2022 at 06:25 AM.
ΜOΛΩΝ ΛΑΒΕ
DGUtley (11-30-2022)
I don’t think there is any intention of doing that. It’s just giving people a choice. My 401k let’s me choose from about 30 different funds. If they added 2 that were “woke”, I don’t think that will hurt anything. It would be awesome to see those outperform the majority of others, but that’s beside the point.
Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes
Chris (11-30-2022)