Honey, Biden Just Shrunk Our Pension

Commentary
President Joe Biden recently issued his first veto since taking office on Jan. 20, 2021.
Biden rejected a bipartisan bill that would have required investment fund managers to take politics out of their investment decisions and to stay focused on providing the best return to their clients as much as possible.
Why should you care? Because Biden was, in effect, saying it was permissible for fund managers, who have control of trillions of dollars in pension accounts, to take into consideration a company’s ESG score (related to how it stands on racial justice, climate change, and LGBT issues) when they decide where to invest the money….