by Karl Denninger
Market-Ticker.org
Read this Twitter thread in full.
Today, we issued a final rule that allows retirement plan investors to take climate change and other environmental, social and governance (ESG) factors into consideration when making investment decisions:
Oh really?
Did you not just see a prime example of what happens when “ESG” takes over a corporation? Why, you did. It’s called Twitter.
Three quarters of the people, all hired with “ESG” in mind, were just fired by Musk who as a private owner has zero obligation to any such so-called “principle.” The various screaming parties in the ESG cult all predicted immediate doom and disaster. No such disaster has occurred; the firm’s only service it provides to the public is running just fine with one quarter of the staffing load — and thus cost — it used to have.