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Be Afraid of Big Banks and Government Seeking to Direct Businesses and Personal Financial Decisions

H. Sterling Burnett
By H. Sterling Burnett

Commentary

One of the subtlest and most perfidious paths through which the cabal of elitist activists, industrial and commercial interests, and national and international politicians and bureaucrats are trying to “reset” capitalism to prioritize “woke” social justice and green priorities is through the co-opting and takeover of global capital markets: banks, insurance, and stock and bond trading and investment.

Big financial institutions such as Bank of America and Mastercard, investment managers such as BlackRock and Vanguard, and hundreds of corporations are going all-in to push environmental, social, and governance (ESG) metrics.

These powerful institutions would have ESG metrics replace capitalization, revenue, profits, and profit margins as the new way of evaluating businesses. Under ESG, returns on investment and returns to stockholders and owners are not as important as a company’s embrace of left-wing causes. These causes include how “green” a company is, having the “right” ratio of minorities on its board, avoiding involvement in politically disfavored industries (such as gun manufacturing and fossil fuel production), and other woke leftist considerations…

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