This obviously ain’t about their customer base. I suspect it’s directed at investors, since the big funds are all over this schitt.
'cept Florida who just yanked $2Bn from Blackrock...
I would add (a subset of highly vocal) employees to the driver of this farce.
Blackrock is the poster child for woke ESG funds, which is why FL yanked the bucks. Funds are supposed to focus on making money for their customers, not changing the world. Other states are doing the same thing as FL, since the purpose of those investments is to pay for the retirement of state employees.
This ain’t new. As far back as the Clinton years, wokies were pushing to have fat state retirement accounts invested in “socially responsible” things like risky mortgages for people who were low-income. Robert Reich, Clinton’s Labor Secretary was one. Those fuggers don’t care one bit that the people who rely on those funds will suffer because of their dumbass notions; none of them are members of their country clubs, though they may end up working there to supplement their underfunded pensions.
