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Vanguard, State Street, BlackRock

By Stephen Moore, CNSNews, Jan. 17, 2023

President Joe Biden’s Labor Department recently announced a new rule that will permit money managers to play politics with trillions of dollars of people’s retirement savings.

The administration is pushing environmental, social and governance investing, which allows retirement fund managers to select stocks of companies based on their positions on social and environmental issues.

Put simply, retirement savings will be used as leverage to force companies to reduce their carbon emissions and establish racial and gender quotas and other social justice fads completely unrelated to securing a high return on workers’ lifetime savings. …

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