whatyareckon

By Peter Adam ~

President Biden is doubling down on efforts to compel (“nudge” is the preferred euphemism) investors to put their hard-earned dollars into schemes that supposedly promote often misguided — but highly politicized — environmental, social and governance (ESG) priorities.

On Monday, March 20, he vetoed – his first such action – a bill, which would have reinstated a Trump-era ban on federal managers of retirement plans from considering factors such as climate change, social impacts or pending lawsuits when making investment choices.

As things now stand, a decades-old rule requiring these fiduciaries to maximize returns has been reversed. A congressional override of his veto isn’t in the cards. It would take a two-thirds Senate-House vote to do so, of course, and sufficient support just isn’t there.

Though applauded by the left, the President’s veto is not widely hailed; far from it. The original bill in question enjoyed…