in the 1990 s during a visit to nasa, sheila jackson lee demanded to see the flag astronauts had planted on mars. when gently informed no human being has been to mars because it s very far away, lee flew into a rage. she accused nasa of racism and pointed out her membership on the science committee in congress and so on. we can spend the entire hour on sheila jackson lee stories and it s tempting. on capital hill, she s known as the queen and not in a good way. but what s interesting is that nobody ever talks about the congressional district that sheila jackson lee supposedly represents. it s mostly inner city houston and it could use some help. lee s district has a poverty rate almost twice the national average, all the number markers of civilizationnal decline. high crime, bad schools, low social cohesion, drugs. now, lee has served in congress for nearly 30 years but it s hard to think of a single thing she has ever done to improve the lives of the people who elected
he took client funds without their permission and did it. the largest institutions are using someone else s money without their permission to advance their own agendas. what i find most fascinating of this story is not this guy that is 30 years old that made a lot of money. that s an interesting detail. it s interesting for everyone to look in the mirror who? wall street and everyone else to ask themselves how dissimilar his story is to mainstream markets. tucker: these are people motivated by a lot of things but we have regulators that are supposed to keep that within the bounds like gary gentzler. where are they? they re busy focused on advancing those same agendas. right? why are they propagating esg disclosure rules when in fact they should be focused on preventing people from losing money. tucker: [laughter] you would think this is an objective. the irony is they ll use this as a catalyst so say we need to have greater purview of
SEC issued two new sets of proposed rules to combat greenwashing: Investment Company Names, Environmental, Social, and Governance Disclosures for Investment Advisers and Investment Companies. Only funds with ESG purpose would be permitted to label themselves accordingly.