Syndetics cover image
Image from Syndetics

Capitalist punishment : how Wall Street is using your money to create a country you didn't vote for / Vivek Ramaswamy.

By: Material type: TextTextPublisher: New York, NY : Broadside Books, 2023Edition: First editionDescription: xix, 215 pages ; 24 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 9780063337756
  • 0063337754
Subject(s):
Contents:
What is ESG? -- The biggest fiduciary breach in US History -- Does ESG make money? -- Terrible at picking stocks, great at picking laws -- No manager can serve two masters -- Too big to compete -- Government conscripts employees into ESG warfare -- The power of the presidential pen -- How ESG's efforts to save the world are hurting it -- Solutions.
Summary: A Wall Street cartel has quietly seized control of the American economy, and they are forcing governments and businesses to bow down to their political agenda--using your money to do it. Three Wall Street firms have quietly amassed more money than Jeff Bezos, Elon Musk, Andrew Carnegie, and John Rockefeller combined. But the money isn't even theirs. These asset managers have accumulated all their power through "passive funds," as most investors no longer believe anyone can reliably pick stocks. Yet the Big Three have decided that they can reliably pick the right social policies instead. As entrepreneur Vivek Ramaswamy reveals, the results are all bad--and working their way into every corner of the economy. They force US companies to adopt "racial equity audits" and "emissions caps" while supporting human rights atrocities in China. They coerce Western companies to produce less oil while shifting production to dirtier places like Russia. They allow companies like FTX to take victory laps on good management while collapsing like a house of cards. They charge high fees to mom-and-pop investors for so-called sustainable funds that are effectively identical to lower-fee index funds. Worst of all, they're celebrated as heroes--at least so far. Capitalist Punishment lifts the veil on the largest fiduciary breaches, antitrust abuses, and First Amendment violations of the twenty-first century, misdeeds that are hiding in plain sight. This isn't just a threat to capitalism. It's a threat to democratic self-governance itself. Capitalist Punishment is an easy-to-follow educational tour de force for every participant in financial markets--which, to the surprise of most Americans, includes nearly every single one of them.
Holdings
Item type Home library Collection Call number Materials specified Status Date due Barcode Item holds
Adult Book Adult Book Main Library NonFiction 330.122 R165 Available 33111011265093
Total holds: 0

Enhanced descriptions from Syndetics:



A Wall Street cartel has quietly seized control of the American economy, and they are forcing governments and businesses to bow down to their political agenda--using your money to do it.

Three Wall Street firms have quietly amassed more money than Jeff Bezos, Elon Musk, Andrew Carnegie, and John Rockefeller combined. But the money isn't even theirs. These asset managers have accumulated all their power through "passive funds," as most investors no longer believe anyone can reliably pick stocks. Yet the Big Three have decided that they can reliably pick the right social policies instead.

As entrepreneur Vivek Ramaswamy reveals, the results are all bad--and working their way into every corner of the economy. They force US companies to adopt "racial equity audits" and "emissions caps" while supporting human rights atrocities in China. They coerce Western companies to produce less oil while shifting production to dirtier places like Russia. They allow companies like FTX to take victory laps on good management while collapsing like a house of cards. They charge high fees to mom-and-pop investors for so-called sustainable funds that are effectively identical to lower-fee index funds.

Worst of all, they're celebrated as heroes--at least so far. Capitalist Punishment lifts the veil on the largest fiduciary breaches, antitrust abuses, and First Amendment violations of the twenty-first century, misdeeds that are hiding in plain sight.

This isn't just a threat to capitalism. It's a threat to democratic self-governance itself. Capitalist Punishment is an easy-to-follow educational tour de force for every participant in financial markets--which, to the surprise of most Americans, includes nearly every single one of them.

Includes bibliographical references.

What is ESG? -- The biggest fiduciary breach in US History -- Does ESG make money? -- Terrible at picking stocks, great at picking laws -- No manager can serve two masters -- Too big to compete -- Government conscripts employees into ESG warfare -- The power of the presidential pen -- How ESG's efforts to save the world are hurting it -- Solutions.

A Wall Street cartel has quietly seized control of the American economy, and they are forcing governments and businesses to bow down to their political agenda--using your money to do it. Three Wall Street firms have quietly amassed more money than Jeff Bezos, Elon Musk, Andrew Carnegie, and John Rockefeller combined. But the money isn't even theirs. These asset managers have accumulated all their power through "passive funds," as most investors no longer believe anyone can reliably pick stocks. Yet the Big Three have decided that they can reliably pick the right social policies instead. As entrepreneur Vivek Ramaswamy reveals, the results are all bad--and working their way into every corner of the economy. They force US companies to adopt "racial equity audits" and "emissions caps" while supporting human rights atrocities in China. They coerce Western companies to produce less oil while shifting production to dirtier places like Russia. They allow companies like FTX to take victory laps on good management while collapsing like a house of cards. They charge high fees to mom-and-pop investors for so-called sustainable funds that are effectively identical to lower-fee index funds. Worst of all, they're celebrated as heroes--at least so far. Capitalist Punishment lifts the veil on the largest fiduciary breaches, antitrust abuses, and First Amendment violations of the twenty-first century, misdeeds that are hiding in plain sight. This isn't just a threat to capitalism. It's a threat to democratic self-governance itself. Capitalist Punishment is an easy-to-follow educational tour de force for every participant in financial markets--which, to the surprise of most Americans, includes nearly every single one of them.

Powered by Koha