Biden Vetos Bipartisan Bill To Ban Woke ESG Agenda In Retirement Investing

Very few things in our current government are being done on a bipartisan basis, but this one happened to make it through with both Democrat and Republican support. The bill would have required fiduciaries that were investing the retirement funds of others to act in only the best financial interest of the investors rather than prioritizing woke ESG principles that might risk those investments. By vetoing this bill, Biden is allowing fund managers to prioritize woke political agendas over investors. For example, they can choose to invest other peoples’ retirement funds in something that meets their woke ESG standards but that isn’t necessarily as good an investment as another investment opportunity which does not meet their woke ESG standards. Side note–ESG stands for Environmental, Social, and Governance, and is an investment strategy which considers environmental and social impacts in their financial analysis. You know, like investing in things that are “anti-racist” or more compassionate to the climate. Silicone Valley Bank had a great ESG ranking, if that tells you anything.

Of course, that’s not how Biden’s official Twitter account framed the veto. He claims this is “extreme MAGA limitations on retirement funds,” despite the bill being supported by far more than just who could be considered “MAGA Republicans,” including three Democrats, Representative Jared Golden, Senator Jon Tester, and Senator Joe Manchin. Because what’s the veto of a bipartisan bill without a little gaslighting to back it up? Essentially, he used his very first veto to show us that he cares more about his woke political agenda than he does about the American people.