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The Erick Erickson Show

S10 EP180: Hour 2 - Progressives Come for Your 401(K) and Private Business

The Erick Erickson Show

Erick Erickson

News, News Commentary

4.5874 Ratings

🗓️ 25 October 2021

⏱️ 40 minutes

🧾️ Download transcript

Summary

The left is now coming for your 401k with a law dictating the kinds of companies your investment firm can invest in with devastating consequences for the free market and retirees plus the fun police are again coming for your halloween costumes.

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Transcript

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0:00.0

Hello and welcome. It is Eric Erickson here. Delighted to have you with me. The phone number. If you want to be on the program, 877997, Eric, 877977-9-7-3-7-4-25. We got to go down the way. It should be a rabbit hole. Unfortunately, it's not a rabbit hole. It's reality.

0:21.4

And this is going to make some of you mad.

0:26.4

This is one of those things.

0:28.1

This should make you mad.

0:29.6

This really should make you angry with the way progressives are operating in Washington right now.

0:39.3

There is this thing you're going to start hearing about called ESG.

0:46.2

ESG.

0:47.7

It stands for environmental, social, and governance.

0:57.7

And right now, one of the provisions in the Democrats' reconciliation plan, beyond the $600, now now $850 a month spying on your checking

1:17.2

account is a provision that would require your managers of your 401k to steer you towards investments in groups with good environmental

1:35.7

scorecards, good social justice scorecards, and good gender equity scorecards for

1:42.3

governance.

1:42.8

You got enough women on the board.

1:46.2

This is in the Democrat's reconciliation plan.

1:49.3

Your 401k manager will no longer be allowed to just invest in the best stock for you.

1:57.4

Your 401k manager will be presumed to not be investing in the best stock unless the company

2:03.6

that it's investing in is good for the environment, good for social justice, or good

2:09.8

governance, meaning women got enough members of the alphabet gang on the board.

2:19.1

This is coming.

2:21.2

This is in the legislation.

2:24.6

It has been taken out and put back in repeatedly.

2:27.6

It's in now.

...

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