The woke industrial complex scored a win on Monday after President Biden issued his first veto since taking office, rejecting a bill that would have reversed a Labor Department rule permitting fiduciaries to consider environmental, social and governance (ESG) factors when making investment decisions for retirement portfolios.
"I just vetoed my first bill," Biden tweeted. "
This bill would risk your retirement savings by making it illegal to consider risk factors MAGA House Republicans don’t like.
Your plan manager should be able to protect your hard-earned savings — whether Rep. Marjorie Taylor Greene likes it or not," he added.
Both the GOP-controlled House and the Democrat-controlled Senate voted last Wednesday to send the bill to Biden's desk - with Democrat Sens.
According to Will Hild, executive director of ESG opponent Consumers' Research, "This veto by President Biden goes directly against the interests of the American people and once again creates an illegitimate loophole for companies like BlackRock, State Street and Vanguard to exploit to put politics over profits with American pension dollars."
https://www.zerohedge.com/political/biden-kills-bill-reverse-esg-investing-rule
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