Investors the entire US “is being captured by people who … don’t want to increase retirement benefits, but want to push the left culturally and politically,” according to Rep. Bill Huizenga, R-Mich.
“Forcing low-income Americans who are trying to build a better financial future is wrong,” Huizenga said Wednesday to the House Financial Services Committee. to hear entitled “Protecting Investor Interests: Examining Environmental and Social Policy in Financial Regulation.”
“This approach undermines traditional norms and, indeed, public law and has turned the financial system into a political arena.”
“But I’m here to tell you that the American people are waking up.” They are waking up to the persecution of this government on their retirement accounts,” Huizenga, chairman of the House Financial Services Committee’s. Subcommittee on Monitoring and Investigationhe said, adding:
In this debate, one thing is clear: companies have a choice to make. Are they going to stand by and let the regulators in Washington raise money and burdens, and destroy those who sell them every day? Or will they stand with policies that are not affected, that are not pushed by this administration?
The audience included James Copland, director and director of law enforcement at the Manhattan Institute; Ted Allen, vice president of policy and advocacy at the Society for Corporate Governance; Benjamin Zycher, director of the American Enterprise Institute; Lawrence Cunningham, special counsel at Mayer Brown; and Keith Ellison, Minnesota’s attorney general.
The value of ESGwhich represents environment, culture, and governanceis a business plan that elevates environmental and social initiatives above profits and creates value for owners and has become popular with businesses and investors.
“We are here today to ensure that US markets remain healthy, strong and the envy of the world,” Rep. Patrick McHenry said in response at the beginning of the trial. “This year, our committee has achieved bipartisan agreement on solutions to strengthen our public markets and increase opportunities for all investors.”
“I believe that today we will continue this encouraging work. “Unfortunately, we’ve seen the Biden administration’s approach to regulating our capital markets, especially at the Securities and Exchange Commission,” said McHenry, RNC. political. This flawed approach has resulted in a large increase in the capital gains of participants in the United States stock market.”
McHenry added:
These politically motivated laws not only prevent private companies from going public, but also hinder the competitiveness of America’s public companies.
In addition to Wednesday’s hearing, three House Financial Services Committees are involved additional charges on ESG, including two on Thursday and one on Friday.
Ryan Walker, co-ordinator of Heritage Action, the founding arm of The Heritage Foundation, reflected on four meetings this week and their importance. (The Daily Signal is an article of The Heritage Foundation.)
“Earlier this year, conservatives put pressure on it [President Joe] Biden to issue the first veto of his presidency, a veto in defense of the ESG raising funds, “Walker he told The Daily Signal in the text sent by email. “With his veto, Mr. Biden has increased the loss of the ESG strategy – the way in which money raises issues in American companies and makes American retirement 401k tools against them and their beliefs.”
“House Republicans are doing the right thing to expose this dangerous policy and complement the work of more than a dozen states to fight ESG policies,” added Walker. “With their collective efforts, conservatives are winning the battle against ESG.”
Will Hild, head of Consumers’ Research, reflected on this week’s meetings and why he thinks they are important, saying that “he is encouraged that leaders of the House like Chairman McHenry are taking action to ensure that the retirement income of the American people will not have weapons against their interests.
“This week’s hearing in the House Financial Services Committee is an important continuation of the national conversation surrounding ESG and its negative effects on consumers,” Hild told The Daily Signal in an email.
“Super people like BlackRock [CEO] “Larry Fink should be concerned because this discussion shows that Congress is engaging in ESG fraud,” added Hild.
BlackRock did not respond to Hild’s comments at the time of publication.
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