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HomeNewsDonald Trump promises action 'radical left garbage' investment 'scams' and woke capitalism

Donald Trump promises action ‘radical left garbage’ investment ‘scams’ and woke capitalism


Former President Donald Trump boasted about his record of restricting retirement funds from investing in environmental, social and governance-focused assets during his time in office, saying Friday that the people who promoted them were “sick.”

“These underperforming financial wake-up scams are rubbish from the radical left that would never fund itself and certainly never fund itself on its own merit,” he said in a video obtained exclusively by DailyMail.com.

In the video, he laid out his plans to sign an executive order to protect investor cash before working with Congress on the legislation.

It comes three days after Vivek Ramaswamy launched his campaign for the Republican nomination, restaking some of the same ground.

Ramaswamy made a name for himself as a crusader against ‘wake up capitalism’.

Former President Donald Trump vowed Friday to take new steps to prevent retirement funds from investing in environmental, social and governance assets.

He won’t be the last candidate to try to squeeze into Trump’s populist playbook.

The two and a half minute video, recorded before Ramaswamy’s announcement, shows how the former president’s campaign will build on the achievements of his time in office to protect his turf.

“I am very proud that, as president, I issued a landmark rule that prohibited Wall Street and employers from investing their 401ks, pensions and retirement accounts in so-called ESG investments, or environmental, social and governance, for political reasons… strictly for political reasons. reasons,’ he said.

These people are sick.

ESG investing weighs non-financial factors in investment decisions. That could include avoiding firearms manufacturers or fossil fuel companies, for example.

According to accounting firm PwC, more than 20 percent of all managed assets will be in ESG funds by 2026.

The idea has gained ground on Wall Street, but Republicans have condemned financial institutions to make decisions in accordance with what they see as a political agenda.

Trump’s rule was struck down by the Biden administration, though that decision faces a challenge in Congress as Republicans, along with Democratic Sen. Joe Manchin, seek to keep the rule in place.

The former president said he was pleased that Republicans were following suit.

“The entire ESG scheme is designed to funnel your retirement money to maniacs on the radical left. The rule we issued under my leadership was the first ESG ban anywhere in the world,” he said.

“And I’m delighted that Republicans in Congress and across the country have taken notice of this threat and have followed my lead.

“Unfortunately, Joe Biden tore down my ESG rule, and now his Department of Labor has declared that fund managers can play politics on our seniors’ hard-earned savings.”

Vivek Ramaswamy, author of 'Woke Inc.'  launched his campaign for the Republican nomination on Tuesday, restaking some of the same ground as Trump.

Vivek Ramaswamy, author of ‘Woke Inc.’ launched his campaign for the Republican nomination on Tuesday, restaking some of the same ground as Trump.

The video is the latest in ‘Agenda 47’, a series of policy announcements that form the first phase of Trump’s campaign.

He used his latest to criticize Biden and the way struggling stock markets had eaten up 401ks and other savings.

But his main goal was to invest in ESG.

“He’s trying to use his money to fund left-wing fringe causes at his expense,” he said.

You are paying the price for all this and it is destroying our country.

“In addition, when I return to the White House, I will sign an executive order and, with the support of Congress, a law to keep politics out of America’s retirement accounts forever.

“I will demand that the funds invest your money to help you, not for them.”

He maintains the early lead in the race for the Republican nomination, but has seen challengers begin to emerge.

Last week, his former ambassador to the United Nations, Nikki Haley, announced his candidacy from the party’s more traditional conservative wing.

Ramaswamy followed her on Tuesday. He rose to fame as a director of the financial firm Strive, which provides funds for investors who believe companies should put profits before social issues, from climate change to racial justice.

He resigned from the company to continue his career.

He’s an unlikely candidate, but he seems to be banking on having an impact similar to Trump’s in 2016, entering the race as a businessman and outsider with unorthodox ideas before pulling off an upset.

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