Is it OK when the those who you obliged to entrust your savings and retirement in "invest" that money for political rather than financial gain?

[Anonymous]

Is it OK when the those who you obliged to entrust your savings and retirement in "invest" that money for political rather than financial gain?

This is what ESG is all about and the Biden Administration for years has been pushing this kind of abuse:

https://www.barrons.com/articles/biden-administration-will-reverse-the-department-of-labors-ruling-on-esg-funds-analysts-say-51612094408

When I work for money to save for my retirement I want that money invested to make money, not push an unrelated agenda. Yet many of theses same companies without ever telling me are using this money to buy control of businesses and make them do financially unsound things to further their social and allegedly environmental goals.

The result is I lose money. This is what ESG is and its basically a form of thief, no different than you reviving a compact car when you paid for a full size.

[stepyo99]

So there's a saying with crypto investors: "not your keys, not your coins". Basically if you don't physically possess it, then you don't own it. Relying on other people to manage your money comes with risk and you're just going to have to decide if it's a risk you're willing to take.

If you think the assets in your bank account, 401k, safe deposit box, storage unit, or whatever is "yours" think again. It's only yours so long as the people holding it are honest.

[Asker]

@stepyo99 That is true of banks as well, just normally when a bank owners decide to rob their own bank and spend all the money they go to jail for thief.

Yet people are suppose to blame the idea of Crypto for Sam's bank robbery? Its not like banks don't get robed all the time.

Your solution is generally not too different than putting your money under a mattress, with the only advantage being your not paying much of an inflationary tax.

Even still I've met people who have lost that way because they personally lost track of it or someone robed them physically.

You would think that a bank would be far more easily observed, and to be fair Sam's lavage spending on democratic political campaigns should have clued people off that he was robing his own bank.

[Anonymous]

No, it exactly why I manage my own money and don't trust the banks

[provokeesmokee]

This is why you don't trust wall street.