House Democrats are picking this nasty fight with Ron DeSantis over wokeness

May 29, 2024

Ron DeSantis is leading the charge against the Left’s woke agenda.

His big victories over wokeness have put a bullseye on his back.

Now House Democrats are picking this nasty fight with Ron DeSantis over wokeness.

Florida fights back against woke Wall Street scheme to shortchange investors

Democrats have run into a roadblock in Congress in passing some of the most extreme parts of their environmental agenda.

That is why they have been trying to harness the power of Wall Street to enact the political agenda through the backdoor.

Environmental, social, and governance (ESG) investing shifts the priority from securing the best return possible for an investor to playing political games with money.

Industries favored by the Left like green energy are prioritized under ESG investing while politically disfavored companies like oil and gas are shunned.

The goal is to choke off capital from companies the Left doesn’t like while boosting companies essential to their political agenda.

Investors are getting the short end of the stick so left-wing Wall Street companies can push toward political goals like ending the use of fossil fuels.

Florida Governor Ron DeSantis signed a sweeping law banning the state government from participating in ESG investing in 2023.

The state’s massive pension funds for public employees began to pull back. 

Florida divested $2 billion from BlackRock, the leading Wall Street firm pushing ESG.

House Democrats investigating Florida for banning ESG investing in state pension funds

Representatives Jerrold Nadler (D-NY) and Luis Correa (D-CA) sent a letter to Florida Chief Financial Officer Jimmy Patronis (R) about the performance of the state’s investments after dumping ESG.

The letter cited a bogus study to claim that Florida was hurting teachers and policemen by not using ESG.

“When states substitute politics for the reasoned judgment of investment professionals, taxpayers foot the bill — along with the teachers, firefighters, and others who served their states and depend on well-managed public pension funds to safeguard their retirement savings,” Correa and Nadler wrote.

This is a preview of the type of investigation that House Democrats want to conduct if they retake the majority after the 2024 Election.

Currently, 14 states have passed restrictions on ESG, and the tide is beginning to turn against it.

Democrats want to find a way to keep this scam going. 

Patronis’ Chief of Staff Frank Collins fired back at them in a letter.

He pointed out that ESG investing has mostly been a failure after several major funds dedicated to it closed.

“ESG is a loser. That’s why ESG funds are closing down and ESG hiring has slowed,” Collins said. “When BlackRock was obsessing over ESG, the CFO looked at their returns, saw their performance deteriorating, and divested. Since then, the Treasury has experienced a record $2.1 billion in interest.”

BlackRock CEO Larry Fink admitted that ESG has become so toxic that they no longer use that name.

Collins said that Nadler and Correa should be asking Florida for help in a statement to the news site, The Capitolist.

“Jerry Nadler and Luis Correa have just joined Sheldon Whitehouse in the club of Leftwing Washington officials, from Blue States, obsessing over Florida. The people they represent in New York and California are moving to the Sunshine State in droves, they’re bringing their pensions with them – and firing off an angry letter isn’t going to change that,” Collins said. “Rather than attacking Florida, they should be asking for help.”

Florida is throwing a monkey wrench in this woke Wall Street scheme.

DeSantis Daily will keep you up-to-date on any developments to this ongoing story.

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