The House of Representatives, on a nearly party line vote, failed to override President Joe Biden’s veto of a resolution that would have repealed the Labor Department rule allowing retirement plan managers to give preferential deference to environmental, social & corporate governance (ESG) factors in their investment decisions for retirees. A two-thirds vote from both bodies was needed to override the president’s veto. Alaska’s Rep. Mary Peltola voted with the Democrats and blocked the veto override.
Maine Rep. Jared Golden was the only Democrat to vote yes with all Republicans to override Biden’s first veto of his presidency. It doesn’t matter how the Senate votes; there are not enough votes to override the veto. It means retirement accounts may be managed for a Green New Deal agenda rather than for solely considering what is best for the account holder.
Rep. Mark Green of Tennessee said “I am disappointed the House didn’t vote tonight in favor of overturning the Biden administration’s veto of H.J. Res. 30. Inviting ESG considerations into retirement investing is a threat to the future security of retirees.”
The rule by the Biden Administration allows retirement fund managers to put their thumb on the scale in favor of funds that are considered more acceptable to progressives, without giving priority to their responsibility to the retiree to invest for the highest return and appropriate safeguards on risk. It may make companies behave more politically, too.
Before Biden, fund managers had a legal duty to the retirees, but this administration now gives them the option of investing as they see it may be best for the planet, according to ever-changing progressive goals.
Earlier this year, Peltola had voted for the “woke” investment rules, in line with the Democrats, when she voted against a Congressional Review Act disapproval of the Biden rule.
Is “woke” anything MRAK opposes, or does MRAK have a definition of what “woke”. Is “woke” like porno, you know it when you see it?
Yes, “frank”, so-called “woke” is obvious — it is the neo-Marxist radical leftist political agenda translated into investments. “Woke” is doing the exact opposite of what prudence, morality, common sense and fiscal responsibility would dictate. In other words, just another manifestation of the radical leftist extremist denial of reality, and embrace of a cult of nihilism and death.
Woke is policies of the Left; divisive, anti religious & anti-capitalism; at the same time, pro socialism & communist.
Capitalism is “the goose that laid the golden egg”, we should not kill it.
It is not gay & transgender people that are protesting societal norms that have been in place for hundreds of years, it is ‘leftist’ gay & transgender people.
I know I have 2 children like this (woke) & I personally know conservative gay people that are not.
Woke thinks rent should free (corporations will pay it, as opposed to their rich shareholders) along w/ food, clothing, & a little spending $.
The Left has succeeded in much of this agenda – free food, free medical, subsidized rent, free welfare money.
The woke left has control of our colleges & schools now & are attacking w/ an army of woke students.
WE are the “rich shareholders” Frank. Police, fireman/woman, school teachers, 401K contributors, union people, government workers, small biz owners – the middle class.
We have our futures in American markets & businesses that the woke want to tear apart, because “it’s not fair”
Or, to put it simply …. woke is communism in disguise, to each according to their need.
Woke is incorporating a more complete history of slavery and discrimination into our education curriculum. Not as complicated as you make it.
OMG this is…beyond parody.
Really, asking (forcing) people to use different pronouns is about slavery?
Asking (forcing) companies & organizations to stop dealing w/ entities that drill or promote oil (while you drive around like everyone else) is about discrimination?
You’re a joke of an individual.
If that was all that woke was, I do not think a single person would have any problem with those that are woke.
Frank, with you pally, my family were all Slaves to the Habsburgs in Europe. It really sucks knowing that my family for generations untold were field hands on that Plantation!
Somehow Gramps escaped in 1906 and made his way to that Shining City on a Hill.
Yeah, let’s teach how slavery was the NORM the world over until GB and the US outlawed it. Let’s learn how all cultures, including Alaskan Native Tribes practiced slavery and understand the how and why that it is here in the USA that it ended.
Not complicated at all Frank.
But sadly Frank that’s not what the wokesters want is it?
Nailed it! ?
It’s Identity Politics – not hard to find. Wikipedia has it in their lineup. Identity Politics is based on the concept that the family unit is a threat to Communist governance. If you break down the patriarchal family unit, allow government to raise the children then the battle against Communism is lost. Read anything written by Karl Marx. It’s all laid out.
Woke, per another commenter on MRAK is being awakened to the injustices in the world.
Which is a ridiculous description.
Woke is being offended on behalf of other people.
Woke is seeking to find offenses, instead of seeking out similarities and common ground.
Woke is putting diversity, inclusion, and equity ahead of maintaining and growing the wealth that allows one to care about DIE.
Woke is “raising awareness” instead of actually doing something about the issue.
Woke is what children do because they can get a pat on the back and told “good job.”
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Woke is not a singular thing, it is an attitude characterized partially by the traits mentioned above.
Peltola, and almost all democrats hate us and want us to fail.
What other excuse is there?
I am closing all IRAs and paying off the house.
Get rid of Peltola, or whatever her last name is this month.
Well, the Silicon Valley Bank in Californication is a Woke, ESG Bank and we know how that went. On the plus side, this is more good news for my Junior Mining Stocks…..
“Paper money eventually returns to its intrinsic value – zero ” — Voltaire
Sounds like someone pulled up stakes (as per usual ) and left the banks broke. Now who could that be?
Did the wicked witch of the north fly in on her broom and drop another load on retirees pension plans? You dont say! I am shocked again! Retirees dont deserve all that cash anyway. It is more useful in Bidens family business… Hunter has a new business plan “He is going GREEN all the way$$$$$$$$$$$$
The idea that investments should be made based on a political ideology instead of the profitability of the investment is counter to the very idea of investing.
she is just another dimlibby leftwing nut!
RCV sure put a bite on Alaskans!
Again, no surprises from Peltola..Alaska’s woke voters got exactly what they wanted while the unwoke were asleep at the rank choice wheel and fighting the “My Republican candidate is better than your Republican candidate” battle, much to the glees of the woke Alaskans seating their own in the House..Lesson learned? I doubt it…
Not Woke, Not Awakened, and brain dead bleating MAGA Palin-bots own this.
BTW, anybody seen Sarah Palin? I thought she was leading the Charge to End RCV. Thankfully she has escaped to warmer climes and hopefully will leave Alaska the f**K alone from here on out.
Gotta agree that Palin screwed up the election with gusto with her late entry after Begich had already established credible territory..and the Trumpster exacerbated the screw up with his endorsement..Disappointed that AK Reps fell for it and insured Peltola’s laughing all the way to the swearing in ceremony. Regardless, Alaskan Republicans were pissing all over their favorite candidate’s GOP opposition right here on MRA..Gotta admit that Lisa’s plan to succeed via RCV worked like a charm to seat her and her buddy Peltola
Last seen in NYC. Fortunately for us, very far from here.
Expect her to pop up again to support Trump.
If any good has come from the Mary P debacle, it’s been exposing and hopefully ending the cult of Sarah.
Accept FOX news blabbers keep resurrecting her for her useless opinion on the color of shite. They think she is the subject matter expert on the Alaskan culture, and believe that whatever she regurges is gospel. It’s time to let that sleeping dog of a failed politician lie, never to be heard from again. Sarah who?
Yeah, so the broom hanging on the wall says it all.
No surprise here (again). She is a complete and total Democrat hack with no real desire to serve her constituents. She is a combo diversity hire/RCV poster child.
I noticed the broom also. Where did that photo come from, Suzanne? You have a unique talent Suzanne!
It should be challenged in court. Violates the fifth amendment the takings clause. It has also been shown that investing this way is a losing strategy.
A plague on the Peltola’s retirement accounts. May they go “broke.”
Another legacy of electing a senile fool and blowing the easiest election putt in modern history.
The only thing worse than Democrats are Republicans.
The woke road runs both ways. Like it or not.
You seem to be lost Gregg. The woke you speak of stems completely from the left. Remember politically correct and participation trophy crowd? There you go. Your welcome for being corrected once again.
But she has a nice smile and loves fish.
Thanks, again Sarah Palin.
You misspelled Begich!.he shuld have dropped when he lost in the first round of primary
Why did your daughter resign again? Gonna give that money back that built that house of yours?
No? Well then I guess it’s going to get demoed.
Pie Spy, LLC
Exactly what has Nick Begich been up to? Oh wait, once Sarah and him played their roles seemingly have ridden off into the sunset.
I saw Nick Begich at the Governor’s prayer breakfast yesterday. I also caught him on the radio last week talking about the banking collapse.
Of course your right Sarah hasn’t been in the state but what else is new.
Bad optics with the broom in the background. Maybe she’s a witch. Or something else…
As if we needed another reason to get rid of RCV!
Always preflight the broom before flight.
Look, if a bank/investment firm wants to offer ESG/Woke funds/portfolios I am perfectly OK with that. There is a choice when investing in those things.
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All too often, there is no choice in what is available in retirement investment portfolios, especially when they are offered through your employer. And, that is the hugest problem with this failure to override the veto.
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If you want to risk your own money by investing in an ESG fund, great, no problem, have at it, and I hope you do well.
But, if you want to allow the fund manager for my 401(k) to chose based on ESG principals, and I have no way to opt out of those funds, I have a problem. A HUGE problem.
I can’t wait to see what Peltola does once they have something to blackmail her with!
As far as being someone e who represents Alaska, needs, or views she is completely worthless and I knew she would be. How could anyone vote for her. She represents Switzerland.
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