AMAC, the largest association of 50-plus aged conservative Americans, strongly condemns Biden’s veto of bipartisan legislation – H.J.Res. 30 — to protect individuals’ retirement savings from being unilaterally invested by their fund managers in woke governed enterprises, thereby relieving them from their fiduciary responsibilities to maximize financial returns on the investments they manage. This legislation was passed overwhelmingly to block a new Labor Department rule encouraging retirement savings fund managers to consider environmental, social and corporate governance (ESG) issues in their investments.
AMAC CEO Rebecca Weber says, “Once again, the Biden Administration demonstrates how it continues to put politics ahead of hard-working Americans’ pension plans. Environment, Social, and Governance (ESG) is a new form of woke ideology that hurts seniors who have invested money in 401(k)s and other investment vehicles.”
Weber continued, “The finalized regulation putting ESG over fiduciary duty as part of making investment decisions leaves senior Americans worse off over the long run. Biden’s veto rule puts retirees at risk, as investment decisions are no longer about ensuring returns. Biden effectively weaponized investment funds in order to reshape society at the expense of average Americans.”
CEO Weber closed in saying, “The previous two years have shown true ineptitude on behalf of the Biden Administration in dealing with the needs of seniors. It is not hyperbole to say the damage done to seniors’ longevity, prosperity, and legacy by the Biden administration is the worst in the last 50 years….And, there they go again.”
Government employees and military are screwed as their retirements. are linked to thrift saving plans that are controlled by the US Government. BOHICA
I view ESG as a way for wealthy liberals and corporations to circumvent campaign laws and deny the American voter a say in what should be decisions on Environment, social and governance that should be determined by the electorate. Surely a conservative constitutional lawyer should be able to bring a Supreme Court case on the matter. Business government partnerships are really monopolies against the people!
Excellent article.
Good job, AMAC.
I agree that this was an excellent article. Just another way of showing Biden doesn’t care about Americans, only himself and his cronies!
Who’s going to stop him?
Even if he were to be blasted from the office it would not make difference There is his clone waiting to be placed in
Instead of FILLING the NATIONAL STRATEGIC OIL RESERVES and SECURE THE BORDERS for NATIONAL SECURITY FIRST.
Beijing biden rolls out the red carpet for Hollywood losers and pushing that Loser WOKE GARBAGE including ESG GARBAGE along with that Global Warming LIE (11,600 years ago there was a Major NATURAL global warming and MAN had NOTHING to do with it. Amazingly how the Earth does things NATURALLY without lies).
Biden doesn’t even know WHERE he’s at most the time, let alone what he’s suppose to be doing. He just takes orders from Obummer and Nazi Soros. Need to get rid of all 3 of them.
AND just what did you expect out of Biden. Kyle L>
If there was ever an occupant of the White House who deserved to be IMPEACHED OUT of office and on trial for treason, it most certainly is Joe Robinette Biden. Not a day goes by that he hasn’t harmed this once great country with his democrat party agenda to weaken us, blows trillions of taxpayers money, embarrasses America, ruin our global reputation, worry our allies, embolden our enemies, attacks our rights and liberties, overuse of Executive Privilege like a tyrant does, and lies about everything he is doing, and trash talks about half of our country. LET’S GO BRANDON!!