Good news, Americans! President Biden is𝄹 here to protect your retirement funds from “extreme MAGA limitatioꦫns”!
Formerly known as the rules requiring fund managers to seek out the best returns for your pension or other reti🃏rement savings.
Welcome to the new Newspeak, where basic fiduciary duty is so𒁏mehow fascism-adjacent.
Biden’s Labor Department recently issued a rule to let fund managers use so-called ESG metrics when investing your funds.
That lets them prioritize the liberal agenda (climate alar🏅mism, for example) over actual returns💎.
For the record, eight of the 10🍨 biggest ESG funds underperformed the S&P aver🔜age last year; the other two basically matched it.
The Labor Department move, that is, eviscerates the decades-old rule that r🐻etirement funds aim to maximize returns.
That’s why the Democratic Senate passed a House-approved bill to block it.෴
Yet Biden vetoed that bill Monday, claiming that not sinking your money into woke companies “would put at risk the retirement saving𒁃s of individuals across the country.”
More, his Twitter account outright lied, insisting the bill would make “it illegal to consider risk factors MAGA House Republicans don’t like.”
Nope: It only stopped them from ignoring realities the left dislikes.
It’s Biden and his allies risking your retirement via investm🐓ents in economically dubious but politically favored businesses.
It was bad enough when he called his disastrous Afghan bugout a “success.” Now he’s claiming to “protect your hard-earned savings” by issuing a license to loot them.