{"id":1627737,"date":"2022-08-31T07:06:17","date_gmt":"2022-08-31T11:06:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1627737"},"modified":"2022-08-31T07:06:22","modified_gmt":"2022-08-31T11:06:22","slug":"report-wall-street-bigwigs-are-left-wing-activists-using-your-money-to-push-their-politics","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-wall-street-bigwigs-are-left-wing-activists-using-your-money-to-push-their-politics\/","title":{"rendered":"Report: Wall Street Bigwigs Are Left-Wing Activists Using Your Money To Push Their Politics"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-wall-street-bigwigs-are-left-wing-activists-using-your-money-to-push-their-politics%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1627737&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A new <a href=\"https:\/\/streaklinks.com\/BLsRurH9_fYjUsMsvgs3giL4\/https%3A%2F%2F9b57ee93-8fae-434e-a844-6b3e2e6dcd24.usrfiles.com%2Fugd%2F9b57ee_e802252f21034ff18b2692b20a96d35b.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a> out earlier this month shows that Wall Street\u2019s near-religious adherence to environmental, social, and governance (ESG) standards is an effort run by Democrat political operatives at the nation\u2019s premier financial institutions. <\/p>\n<p>On Aug. 9, the American Accountability Foundation (AAF), a nonprofit governmental watchdog, published a 47-page report chronicling Wall Street ties at the \u201cBig Three\u201d asset management firms, BlackRock, Vanguard, and State Street, with Democrat politicians who have a history of radical activism. <\/p>\n<p>\u201cThe number of liberal staffers that are now serving in influential roles in financial firms raises the question \u2014 has a new \u2018revolving door\u2019 come to Washington?\u201d researchers wrote in their memorandum of the report. \u201cWhile traditionally D.C. staffers will go from official positions to K Street \u2014 there now seems to be a new trend emerging of D.C. staffers going from official positions to <em>Wall Street.<\/em>\u201c<\/p>\n<p>Together, the \u201cBig Three\u201d asset management firms control about $22 trillion in assets, of which BlackRock CEO Larry Fink <a href=\"https:\/\/twitter.com\/WillHild\/status\/1549897939501420545?s=20&amp;t=tsj-pq9pbsJJzs5ZaH4BsQ\">acknowledged,<\/a> \u201cnone of it is our money.\u201d Assets include taxpayer pension funds, 401(k)s, and IRAs, which inspired the title of AAF\u2019s report, \u201c\u2018None of It is Our Money\u2019: An Introduction to the Leftist Activists and Liberal DC Insiders at BlackRock, Vanguard, and State Street Using Your Money to Advance Their Political Agenda.\u201d <\/p>\n<p>In January, West Virginia Republican Treasurer Riley Moore <a href=\"https:\/\/thefederalist.com\/2022\/01\/18\/west-virginia-treasurer-riley-moore-drops-blackrock-over-woke-capitalism\/\">pulled<\/a> his state\u2019s taxpayer money from BlackRock\u2019s management over the firm\u2019s championship of ESG standards to constituents\u2019 detriment. <\/p>\n<p>\u201cEnvironmental issues in particular have become important to these asset managers,\u201d AAF researchers wrote. \u201cAll three of BlackRock, Vanguard, and State Street are signatories to the Net Zero Asset Managers Initiative \u2014 which requires signers to commit to an investment strategy aligned with achieving net zero greenhouse gas emissions by 2050.\u201d<\/p>\n<p>The emissions-free initiative has robbed states rich in fossil fuels such as West Virginia from critical investment as firms shy away from projects threatening to bring down their ESG scores, i.e., left-wing social capital. <\/p>\n<p>Researchers at AAF highlighted several influential individuals in particular involved with the three major firms\u2019 \u201cstewardship\u201d teams responsible for mediating shareholder engagement. BlackRock\u2019s Jon Rosen, the author of Fink\u2019s annual letter to shareholders, for example, is an alum of the Obama administration and worked on the former president\u2019s 2008 campaign. While at BlackRock, Rosen donated to Vermont Sen. Bernie Sanders\u2019 presidential effort, according to the report. In May, Rosen charged Republicans with supporting \u201cmass murder\u201d one day after a shooting in Buffalo left <a href=\"https:\/\/www.cnn.com\/us\/live-news\/buffalo-supermarket-mass-shooting\/h_a91977d2e5023d7786018e78902731ee\" target=\"_blank\" rel=\"noreferrer noopener\">10<\/a> dead. <\/p>\n<p>AAF also highlighted the radical left-wing activism of State Street Vice President of Asset Stewardship Holly Fetter, who <a href=\"https:\/\/www.linkedin.com\/in\/hfetter\" target=\"_blank\" rel=\"noreferrer noopener\">is on the board<\/a> of several left-wing groups including the Soros-funded North Star Fund. Since 2016, the North Star Fund has received more than $850,000 from Democrat mega-donor George Soros. In August 2020, the group sponsored an <a href=\"https:\/\/northstarfund.org\/event\/supporting-black-led-community-safety-and-abolition-for-nyc\/\" target=\"_blank\" rel=\"noreferrer noopener\">event<\/a> to \u201cabolish, defund, reform,\u201d police. <\/p>\n<p>Fetter\u2019s resume also includes a stint at Stanford University where she co-taught a course titled, \u201cWhat is whiteness?\u201d<\/p>\n<p>At Vanguard, John Galloway is the firm\u2019s global head of investment stewardship. Galloway previously worked in President Obama\u2019s Office of Management and Budget and served with the National Economic Council. After his time in the administration, Galloway led \u201c<a href=\"https:\/\/www.cbsnews.com\/news\/obama-staffers-prepare-for-life-after-the-white-house\/\" target=\"_blank\" rel=\"noreferrer noopener\">Future44<\/a>,\u201d a group at Georgetown University to help fellow alumni of the Obama White House find private-sector employment. <\/p>\n<hr class=\"wp-block-separator\" \/>\n<p>\n  Tristan Justice is the western correspondent for The Federalist. He has also written for The Washington Examiner and The Daily Signal. His work has also been featured in Real Clear Politics and Fox News. Tristan graduated from George Washington University where he majored in political science and minored in journalism. Follow him on Twitter at @JusticeTristan or contact him at Tristan@thefederalist.com.<\/p>\n<div class=\"article-comments mt-30 mt-sm-60\">\n<div class=\"article-comments-container d-flex flex-column align-items-center py-30\">\n    <img loading=\"lazy\" decoding=\"async\" width=\"110\" height=\"106\" src=\"https:\/\/thefederalist.com\/wp-content\/uploads\/2021\/12\/fdrlst-mark.svg\" class=\"img-fluid mb-20\" alt=\"The Federalist logo eagle mark\" \/>    <\/p>\n<p>Unlock commenting by joining the Federalist Community.<\/p>\n<p>    <a href=\"https:\/\/thefederalist.com\/plans\/pricing\/\" class=\"btn btn-on-white\">Subscribe<\/a>  <\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A new report out earlier this month shows that Wall Street\u2019s near-religious adherence to environmental, social, and governance (ESG) standards is an effort run by Democrat political operatives at the<\/p>\n","protected":false},"author":494,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1627737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1627737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1627737"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1627737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1627737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1627737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1627737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}