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Some of Wall Street's biggest buyers of America's state and local government bonds are starting to ask questions about racial equity. Five investment giants — BlackRock Inc., Goldman Sachs Asset Management, Lord, Abbett & Co., Morgan Stanley Investment Management and Vanguard Group Inc. — are working with two minority-owned underwriters, Loop Capital Markets and Siebert Williams Shank & Co., to develop and distribute a questionnaire that governments will be asked to fill out before new bond deals are arranged. It will ask about policing policies, efforts to combat race-based inequality, social services and the demographic breakdown of the government's workforce, among other things.
BlackRock, by far the biggest funds manager, and other big Wall Street funds reportedly are buying up houses and converting them to rental units, thereby making housing unaffordable to many buyers and transitioning away from a nation of homeowners to one of renters. But by signing up to this SJW agenda, I suppose they hope to escape political condemnation from the left and the media.
"There are signs that ESG assets’ valuations may be stretched," the BIS, which holds regular meetings for the world's central banks, said as part of its latest quarterly report.
Claudio Borio, head of its monetary and economic department, referred to it as the "green bubble" risk, highlighting how the surge in ETFs and mutual funds was comparable to parts of the mortgage backed security market in the runup to the global financial crisis.
"You could have too much, too quickly of a good thing," Borio said. "We know valuations are rather rich".
originally posted by: Bunch
a reply to: TonyS
Without asking the most pertinent questions which is… what’s wrong with racial equiality? I will say this… none… absolutely none of this big time Wall Street hedge funds care one bit about racial equality. They might do some things here and there to save face but trust me, if these companies/corporations truly cared about racially equality then racial inequality wouldn’t exist.
So please do not worry, nothing is going to change, nothing will ever change. Many of us that were born with the different pigmentation have come to realize this a long time ago and so should you.