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Politics

Wall Street giants moving toward using financial power to pressure - cities to enforce SJW agenda

Posted: Sep 26th, 2021 - 12:38 pm

I doubt that we'll see a lot of leftists protesting against Wall Street titans bullying local governments now that the most powerful capitalist entities are joining to progressive racial agenda. Some Wall Street bullying is more equal than other bullying, it would seem. But this article from Bloomberg (hat tip: Ed Lasky) gives me the willies:

Some of Wall Street's biggest buyers of America's state and local government bonds are starting to ask questions about racial equity. Five investment giants — BlackRock Inc., Goldman Sachs Asset Management, Lord, Abbett & Co., Morgan Stanley Investment Management and Vanguard Group Inc. — are working with two minority-owned underwriters, Loop Capital Markets and Siebert Williams Shank & Co., to develop and distribute a questionnaire that governments will be asked to fill out before new bond deals are arranged. It will ask about policing policies, efforts to combat race-based inequality, social services and the demographic breakdown of the government's workforce, among other things. "The pandemic has brought up the broad range of inequity in our society and it's important to understand how everyone is working on that," said Daniel Solender, head of municipal bonds at Lord, Abbett, which manages about $36 billion of the securities.

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LINK/URL: Wall Street giants moving toward using financial power to pressure

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