BlackRock in crosshairs as conservative activists take aim at 'woke capitalism,' ESG investing



Conservative groups are launching a campaign aimed at stopping ESG's 'woke capitalism' from decimating investors' retirement savings, the Wall Street Journal reported Sunday.

BlackRock, the world's largest asset manager, the first to exceed $10 trillion, is directly in the groups' crosshairs.

"The ESG movement is polluting our culture and assaulting the dignity and worth of people," Federalist Society co-chairman Leonard Leo told WSJ. "Our enterprise stands with a growing group of Americans who are fighting to crush leftist dominance in this arena."

ESG is an acronym for environmental, social, and governance investing. Investopedia's nutshell definition of ESG investing is "a set of standards for a company's behavior used by socially conscious investors to screen potential investments." In other words, ESG investments take a company's climate change stance and diversity-related activities into account as financial factors.

A conservative nonprofit called Marble Freedom Trust, overseen by Leo, has taken the lead in the initiative to disentangle ESG from actual financial factors asset managers like BlackRock and Vanguard consider when investing on consumers' behalf. So far, the group has put more than $10 million, mostly with Consumers' Research, into its anti-ESG efforts, the WSJ reports.

Marble Freedom Trust has provided grants to groups that are pushing back on the questionable, potentially risky investment strategy. Other groups receiving grants include the Heritage Foundation, the State Financial Officers Foundation, and the American Accountability Foundation, the WSJ says.

Their approach to ousting ESG includes distributing model legislation to state capitals and creating ads explaining the risks in supporting ESG principles.

Consumers' Research is the organization that launched viral ads in 2021 targeting targeting "Woka-Cola" and in 2022 targeting American Airlines for trying to "appease woke politicians to distract from its failures as a company."

Consumers' Research blasted BlackRock last year in a blistering, 30-second spot blaming it for soaring gas prices and outrageous housing prices. In the ad, the organization placed responsibility squarely in the lap of Larry Fink, BlackRock's CEO.

Further, group pointed out that BlackRock's former ESG head, Brian Deese, had become President Biden's economic adviser. Deese left his position on Biden's National Economic Council Team last week.

\u201cToday is my last day at @briandeeseNEC.\n\nI leave the White House humbled by what we have been able to accomplish over the last two years, and confident in the team moving forward. Time to finish the job! \n\nStarting tomorrow, you can find me at @BrianCDeese.\u201d
— Brian Deese (@Brian Deese) 1676983034
BlackRock has reportedly spent $3.5 million in lobbying last year, meeting with senators and representatives about ESG, the WSJ says.
Marble Freedom Trust, the anti-ESG group with Leo at the helm, received $1.6 billion to fund its efforts, which also include limiting abortion and opposing critical race theory, according to the WSJ.

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25-year-old former college football tight end dies after suffering heart attack while jogging



Jake Hescock — a 25-year-old former college football tight end who played for a pair of Division 1 programs — has died after suffering a heart attack, the Orlando Sentinel reported.

What are the details?

Hescock — who played for the University of Wisconsin and the University of Central Florida — was jogging in Boston on Dec. 6 when he suffered a cardiac arrest, the paper said.

A passerby provided CPR, and Hescock was taken to a hospital before being placed on life support, the Sentinel said.

Hescock’s cousin Lisa Walz Mlynarczyk wrote Sunday on Facebook, "It is with a heavy heart that I have to say my cousin Jake has passed on, may he Rest in Peace and forever shine his bright soul down upon us ..."

Mlynarczyk noted in her post that damage to Hescock's brain from lack of oxygen was "severe."

What was Hescock's football history?

The Sentinel reported that Hescock was a native of Pittsfield, Massachusetts, attended Salisbury School in Connecticut, and then went to the University of Wisconsin to play football. The paper said after his freshman season, Hescock — a 6-foot-7 tight end — transferred to the University of Central Florida, where he played from 2017 to 2021.

Here's a tribute tweet from UCF:

\u201cWe are devastated to hear of the passing of Jake Hescock. He was beloved by everyone within Knight Nation.\n\nOur deepest condolences go out to everyone who knew Jake. He was taken too soon and will be greatly missed.\u201d
— Varsity Knights (@Varsity Knights) 1670783589

After sitting out the 2017 season due to his transfer, Hescock caught two passes for 13 yards and 1 touchdown in the 2018 season, the Sentinel said. Hescock became the team’s top tight end in 2019, making nine catches for 87 yards and a pair of touchdowns, the paper said. In 2020, he caught 10 passes for 53 yards and three touchdowns, the Sentinel noted, adding that his final season was 2021.

Following college, Hescock moved back to Massachusetts and retired from football, the paper reported.

'So hard to lose a guy with so much life about him'

“We’re heartbroken to hear of Jake’s passing," UCF head coach Gus Malzahn tweeted. "He was an incredible person, who embodied what it means to be a UCF Knight. Everyone who knew Jake loved him, and he was a blessing to coach. He will be greatly missed.”

\u201cWe\u2019re heartbroken to hear of Jake\u2019s passing. He was an incredible person, who embodied what it means to be a UCF Knight. Everyone who knew Jake loved him and he was a blessing to coach.He will be greatly missed. Kristi and I\u2019s prayers are with his whole family.\u201d
— Coach Gus Malzahn (@Coach Gus Malzahn) 1670784251

“Jake Hescock was one of the most authentic guys I’ve ever been around,” former UCF quarterback Mikey Keene tweeted. “He was an incredible person and an even better friend. He made everyone around him a better person. Rest in Peace brother. You will be missed by all."

UCF linebacker Quade Mosier tweeted, “Always the craziest dude in the room! Was always a big brother to me since I got to UCF. Going to miss the river with you, Jake.”

\u201cAlways the craziest dude in the room! Was always a big brother to me since i got to UCF. Gonna miss going to the river with you Jake! Rest easy brother Love you!\ud83d\udd4a\u2764\ufe0f\u201d
— Quade Mosier (@Quade Mosier) 1670781834

“Jake, I love you bro. I’m so thankful that GOD let me be a part of your life,” UCF tight end Alec Holler tweeted. “It was a blessing to get to know you. I’ll never forget you, 88. Please keep the whole Hescock family in your prayers.”

\u201cJake, I love you bro. I\u2019m so thankful that GOD let me be a part of your life. It was a blessing to get to know you. I\u2019ll never forget you 88\u2764\ufe0f Please keep the whole Hescock family in your prayers\u201d
— Alec Holler (@Alec Holler) 1670781393

“So hard to lose a guy with so much life about him," UCF tight ends coach and special teams coordinator Brian Blackmon tweeted. "His spirit was contagious and everyone who knew Jake loved him. Our prayers are with his family and friends, asking for peace and comfort for all. Lamentations 3:32."

\u201cSo hard to lose a guy with so much life about him. His spirit was contagious and everyone who knew Jake loved him. Our prayers are with his family and friends, asking for peace and comfort for all. Lamentations 3:32\u201d
— Brian Blackmon (@Brian Blackmon) 1670783769

Wisconsin Football tweeted, "Saddened to learn of the passing of former Badger Jake Hescock. Taken from us too soon. Our thoughts are with his family and friends."

Maxine Waters thanks FTX founder Sam Bankman-Fried for being 'candid'



Sam Bankman-Fried, founder of crypto-exchange company FTX who admittedly "had a bad month," received praise on Twitter from Congresswoman Maxine Waters for his apparent dedication to transparency.

Bankman-Fried, who has recently said he was masquerading as a "woke westerner," has benefitted from an avalanche of favorable press as of late, including an op-ed in the Wall Street Journal and a public webcam event with the New York Times.

"[Sam Bankman-Fried], we appreciate that you've been candid in your discussions about what happened at #FTX," Waters stated on Twitter. "Your willingness to talk to the public will help the company's customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th."


\u201c.@SBF_FTX, we appreciate that you've been candid in your discussions about what happened at #FTX. Your willingness to talk to the public will help the company's customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th.\u201d
— Maxine Waters (@Maxine Waters) 1669993281

The statement was co-tweeted by the U.S. House Committee on Financial Services, for which Waters is the spokesperson. The committee has announced a hearing regarding FTX set for December 13, 2022, saying the "urgent need for legislation has never been greater."

While it is fair to state that there is widespread skepticism about any punishment the founder will face, other crypto-currency companies such as Alameda Research and Binance are set to appear at the hearing as well.

The U.S. Senate Agriculture Committee will also hold a hearing titled “Lessons Learned from the FTX Collapse" on December 1, 2022.

Bankman-Fried has received no apparent condemnation from federal authorities or regulators and at points seems genuinely confused by backlash or questioning he's received.

"When I filed, I'm fairly sure FTX US was solvent, and that all US customers could be made whole. To my knowledge, it still is today. I was expecting that to happen. I'm surprised it hasn't. I'm not sure why US withdrawals were turned off," the mogul pontificated online.


\u201cExpanding on DealBook:\n\nWhen I filed, I'm fairly sure FTX US was solvent, and that all US customers could be made whole.\n\nTo my knowledge, it still is today.\n\nI was expecting that to happen. I'm surprised it hasn't. I'm not sure why US withdrawals were turned off.\u201d
— SBF (@SBF) 1669909861

Bankman-Fried and Rep. Waters have been pictured together before, with Waters even seemingly blowing a kiss to the businessman after a congressional hearing:

\u201cThis might be the weirdest FTX news so far: \n\nMaxine Waters blew Sam Bankman-Fried a kiss after a Congressional hearing last year. \nhttps://t.co/g53eP0HnMx\u201d
— Alec Sears (@Alec Sears) 1668786193

Still operating out of the Bahamas, Bankman-Fried appears to be doing his own public relations damage control on social media, even taking time to clarify his status as a vegan. "Is SBF still vegan?" a crypto-currency account asked. "Yea, the picture going around was a joke, I'm still vegan," Bankman-Fried clarified.

\u201c@AltcoinDailyio yea the picture going around was a joke, I'm still vegan\u201d
— Altcoin Daily (@Altcoin Daily) 1669934976


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