How Tennessee is protecting freedom of speech and fighting ESG
ESG activists want to penalize individuals, not just corporations, for their political speech. New legislation in Tennessee will stop banks from denying services based on political ideology.
Wall Street firms are trying to bully America’s fossil fuel industry out of business. But it’s gotten more sinister than corporate boardroom spats — they’re also placing Americans’ individual financial futures in jeopardy in the process.
Tennessee is fighting back. House Bill 2100, which is being debated in the Senate this week, would prohibit banks and financial institutions from denying or canceling services based on an individual’s political affiliations or social credit score. It would require banks to simply do their jobs — to make decisions based on an impartial analysis of risk factors, not based on political whims. When we entrust our financial well-being to a bank, we should be able to trust that it’s putting personal political agendas aside and prioritizing its legal fiduciary duty.
This legislation comes shortly after several states, including Tennessee, have outlawed state contracts with companies that boycott the energy industry. Dozens of states have passed or are considering similar legislation — and some have already withdrawn funds from companies like BlackRock that publicly endorse the anti-fossil fuel, climate alarmist narrative. Just this week, Texas divested $8.5 billion in public education investments from BlackRock.
At the end of the day, these legislative debates aren’t about fossil fuels, though. It’s true that oil, natural gas, and coal are critical to our economy and to the smooth functioning of our everyday lives. Energy is essential to everything we do — every transaction we make, every item we own, every societal structure we depend on for our high quality of life.
But what’s more important is that we defend our financial institutions (especially, but not only, when it comes to taxpayer dollars) from politically influenced mismanagement, waste, and abuse.
Federal law explicitly prohibits corporations from colluding to restrain competition. That’s exactly what Wall Street is doing — going far beyond mere political posturing to create a cartel, colluding to de-bank and discriminate against the energy industry and, eventually, the individuals who support it. Hard-working Americans should know their financial interests are their bank’s number one priority, but under ESG investing, the leftist agenda is given equal or greater footing. It’s an affront to the free market and freedom of speech, and we should praise Tennessee for joining the strong and growing coalition of states fighting back.
I like this comment - "That’s exactly what Wall Street is doing — going far beyond mere political posturing to create a cartel" - our government is doing exactly the same thing with the renewable industry - they have created a cartel of rabid dogs going after our land, our food production, our tax money, - federal, state and local, and what ever other carnage they can create on the way, as long as it is putting money in their pockets. This is an international cartel, not just our own, though they are good at the game as well.
They are in our rural counties and they are holding them hostage, one dollar bill at a time. But unlike drug cartels - the populace doesn't even understand the consequences, or get to enjoy the high! We will be left with those superfund sites to clean up in a few years and that will be on us all!
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