TO PROTECT STATE EMPLOYEE FUNDS
FROM BEING LEVERAGED WOKE
CORPORATE CAUSES.
JOINS ME NOW.
GREAT TO SEE YOU, THANK YOU FOR
BEING HERE.
WHAT EXACTLY HAVE THESE WOKE UP
FUNDS BEEN DOING WITH THE MONEY?
EXIT INDIANA ARE STATE LAWS ARE
PRETTY CLEAR. IT IS BACKED UP NOT NEW, FAIRLY
IT IS BACKED UP NOT NEW, FAIRLY
OLD CASE LAW.
HAVE A FIDUCIARY DUTY TO FOCUS
SOLELY ON RETURN ON INVESTMENT.
THE FINANCIAL RETURN ON
INVESTMENT.
AND FRANKLY I HAVE SEEN THE
BOARD IS DONE WELL.
WHAT THE PROBLEM IS, THERE’S A
BILLIONS OF DOLLARS HERE.
PEOPLES HARD EARNED MONEY
THEY’VE BEEN SAVING ALL OF THEIR
LIVES.
THE BOARD, LIKE AT ALL STATES
HAS TO GIVE THEM TO AN
INVESTMENT MANAGER.
WITH THAT INVESTMENT MANAGER IS
BLACK ROCK THERE IS A LIKELIHOOD
BASED ON THEIR OWN STATEMENTS
THAT THEY ARE INVESTING IN
COMPANIES THAT HAVE THESE WOKE
THE CSG MOVEMENT THAT PUTS THE
FINANCIAL RETURN ON THE BACK
BURNER AND FOCUSES ON THESE
IDEOLOGIES THEY COULD NOT GET
DONE TO THE BALLOT BOX.
>> IF I CAN PUT IT IN A NUTSHELL
ESSENTIALLY WHAT THEY’RE DOING
IS SHORTCHANGING THE PENSIONERS.
YOU COULD GET A BETTER RETURN
MAYBE ARE GETTING GOOD RETURNS
OVER THE PAST THREE YEARS
EVERYONE’S BEEN GETTING GREAT
RETURNS.
THE FACT IS THEY COULD BE
GETTING MUCH BETTER ONCE IF THEY
DID NOT HAVE THIS WOKE IDEOLOGY.
>> THAT IS THE THING.
IF YOU ARE EXXON FOR EXAMPLE AND
YOU DECIDE TO NOT BE IN OIL
COMPANY AND FOCUS ON WIND I
IMAGINE IS GOING TO AFFECT YOUR
PROFITABILITY IN THE LONG RUN.
AND IF SO IS THE INVESTMENT
MANAGER YOU JUST GOING TO INVEST
IN PEOPLE’S MONEY AND THOSE
KINDS OF COMPANIES THAT HAVE
WOKE IDEOLOGIES NOW, THEN YOUR
PROFITABILITY IS AT RISK.
WITH GROCERIES SO HIGH GAS SO I,
EVERYTHING GOING UP.
BECAUSE OF OTHER WOKE POLICIES.
IT IS A BAD TIME FOR INVESTORS.
WE NEED TO PROTECT THEM.
DAVID: WHAT ARE YOU DOING
ATTORNEY GENERAL TO MOVE THIS
PENSION MONEY OUT OF PEOPLE’S
HANDS?
>> IN THE END THIS LOSS PRETTY
DARN GOOD.
WHAT I DID FIRST WAS ISSUED AN
OPINION TO REMIND EVERYBODY
WHETHER IT WAS THE BOARD OR
INVESTMENT MANAGERS, OR EVEN THE
SHAREHOLDERS THEMSELVES IS WHAT
INDIANA LAW IS.
YOU ARE MANDATED TO FOCUS SOLELY
ON FINANCIAL RETURN.
TWO, THERE IS LIKE-MINDED
ATTORNEY GENERALS, JUST LIKE ME,
AND OTHER STATES THAT ARE
GETTING TOGETHER AND GOING AFTER
IT THE GOLIATH.
WHEN I SAY GOING AFTER WE ARE
LOOKING INTO THE BLACK ROCKS OF
THE WORLD.
TO SEE WHAT CRITERIA THEY ARE
USING WHEN THEY RATE COMPANIES
PAID WHEN THEY INVEST IN
COMPANIES.
AGAIN SOME BY THEIR OWN PUBLIC
STATEMENTS HAVE GONE WOKE.
BUT WE WANT TO DIG INTO THAT AND
SEE EXACTLY THAT THEY ARE DOING.
AND SEE IF THEY VIOLATED STATE
LAW LIKE IN INDIANA.
AND THEN WE WILL TAKE IT FROM
THERE.
DAVID: WE HAVE THE TREASURER OF
WEST VIRGINIA ON A COUPLE WEEKS
AGO.
OF COURSE WEST VIRGINIA IS A
COAL STATE.
MANY OF THESE WOKE OF COMPANIES
WILL NOT INVEST IN COAL.
PURSUE MEASURES NOT BY THEM BY
OTHERS.
TAKING OUT OF GOVERNMENT CONTRACTS.
THEY ARE DISENFRANCHISING THEM
WOULD YOU CONSIDER DOING
SOMETHING LIKE THAT?
OR WOULD YOU ELIMINATE THEM AS
THE PROTECTORS OF THESE PENSION
FUNDS?
>> FIRST LET ME APPLAUD WEST
VIRGINIA FOR THE COURAGE THEY
HAVE.
INDIANA DEPENDING ON WHAT YEAR
IS THE SECOND LARGEST COAL
PRODUCER IN THE NATION.
WE ACTUALLY TEAM UP WITH WEST
VIRGINIA ON A LOT OF LEGAL
ISSUES.
PROTECTING THE FOSSIL FUEL
INDUSTRY WHICH IS NOT ONLY A WAY
OF LIFE BUT STANDARD OF LIVING
FROM EVERYONE WHO BENEFITS FROM
THAT REASONABLE ENERGY THAT IS
VERY CLEAN.
I THINK A WEST VIRGINIA FOR
THEIR COURAGE I THINK THEY HAVE
BEEN ATTACKED.
YOUR BORROWING COSTS ARE GOING
TO GO UP.
IT’S GOING TO COST YOU MORE THAN
IT IS.
IT’S ULTIMATELY NONSENSE.
IF STATES HAVE BANNED TOGETHER
LIKE I AM PROPOSING WE DO HERE,
WE ARE GOING TO CREATE OUR OWN
MARKET.
WE HAVE SO MUCH MONEY.
YES, NEW YORK, CALIFORNIA WILL
BE WOKE RIGHT ALONG THE
COMPANIES AND THEY WILL BE FOR
SURE PAID THE REST OF US AS WELL
WELL.
THE BEST BANG FOR THE BUCK.
DAVID: I LOVE IT WHEN PEOPLE NOT
JUST MOUTHING OFF ABOUT PROBLEMS
BUT ACTUALLY DOING SOMETHING