Can I Sue?

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California State Teachers Retirement System headquarters in Sacramento, Ca.

Really, can I sue California’s STRS, the state’s teacher pension system?  I would think that I have standing.  After all, I am receiving a CalSTRS pension.  Why would I sue?  They are imperiling my pension.  Simple.

How are they harming the integrity of my pension?  It comes in three letters – ESG – and, to no great surprise, California is all into it.  The initials stand for “environment, social, governance” and the plan is to impose these political abstractions on the entire business sector including finance, which also includes pension investing.  In practical terms, ESG means the grab bag of leftwing causes from transgender ideology to the crusade against “systemic racism” to climate-change apocalyptics.  The purpose is to strongarm businesses into leftwing causes with the use of the mother’s milk of business – capital – capital even from pension members.

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A leading advocate among mega-financiers for ESG under label of “sustainable” is Chairman and Chief Executive of BlackRock, Laurence Fink. Here he speaks during a session at the World Economic Forum (WEF) in Davos January 25, 2014. (REUTERS/Ruben Sprich)

The State of Utah is suing – that is, suing Standard and Poor’s (S&P) for assessing the state’s financial stability and credit worthiness according to leftwing metrics (ESG), or how diligent the state is in furthering leftwing causes such as hostility to the firearms industry and energy companies.  Since the electorate of Utah doesn’t have the political sensibilities of gun controllers, BLM, the progressive ladies of The View, or the Sierra Club, the state’s financial status and bonds get downgraded by S&P acting in the role of the Left’s hatchet man.  If the state’s electorate doesn’t pay heed to the fascinations of a college Sociology faculty, their bonds get branded “B” (junk).  The purpose is to jeopardize the state’s financial health if they don’t come to heel.

Public-employee pension funds are particularly prone to the sway of the zealots, especially CalPers and CalSTRS in California, already under the direct thumb of an off-the-charts progressive one-party state.  Out goes the standard fiduciary rule of working in the best interests of the client, in comes a redefinition of “best interests” to involve the political inclinations of those like Gavin Newsom wanting to risk the pensioners’ contributions and ultimate payout on Solyndra-type ventures and away from investments that until yesterday were pro forma.

In the case of a public-employee pension system, “best interest” can’t be limited to managers taking dictates from powerful and ideologically pretentious politicos.  Contributions come from everyone from Marxists to NRA members in general funds like CalSTRS.  The only real requirement is to be a teacher of the requisite number of years.  The one thing that they all have in common is being retired and spoiling their grandkids.  If any of them want to fund the antics of The Squad, they can do it from their pre- or post-retirement income, not beforehand after a deterioration of potential payouts to every beneficiary by Gavin Newsom’s preferences.

Kentucky’s AG, Daniel Cameron, senses the chicanery as well.  He hit the mark with a letter to the state’s pension fund managers when he warned them about ESG investing because it would “violate statutory and contractual fiduciary duties.”  He continued, “There is an increasing trend among some investment management firms to use money in public and state employee pension plans — that is, other people’s money — to push their own political agendas and force social change.”  Those fiduciary duties might apply to California as well.

Daniel Cameron
Daniel Cameron, Kentucky’s AG

A favorite tactic to make ESG seem legitimate is to label the opinions of the Left a matter of “science” and a product of a “consensus”, therefore irrefutable, therefore “misinformation” if challenged, therefore above and beyond the standard rules of fiduciary responsibility.  This new “science” – the scientific truth (?) of Leftist opinion – is actually a “science” without the scientific method.  Think about it: What scientist comes from an experimental test of his/her hypothesis with the observation that the results are wrong because they violate a “consensus”?  The whole exercise is as nonsensical as handing over my pension’s investment portfolio to the screeching ministrations of Greta Thunberg or Alexandra Ocasio-Cortez.

But here we are at a place where we can’t challenge the destruction of a pension because anyone who disagrees is censored as a “denier”.  So, the Left gets carte blanche with the money for my old age.  I don’t think so.  Send lawyers, guns, and money.  Oh, drop the “guns” part and let’s sue.

I identify with Warren Zevon’s predicament in his song “Lawyers, Guns, and Money”.  The lyics:

“I went home with the waitress, the way I always do
How was I to know, she was with the Russians, too?

I was gambling in Havana, I took a little risk
Send lawyers, guns and money, dad, get me out of this, ha

I’m the innocent bystander
Somehow I got stuck between the rock and a hard place
And I’m down on my luck, yes I’m down on my luck
Well, I’m down on my luck

And I’m hiding in Honduras
I’m a desperate man
Send lawyers, guns, and money
The shit has hit the fan

Alright, send lawyers, guns, and money
Huh, yeah
Send lawyers, guns, and money
Uh
Send lawyers, guns, and money
Hey
Send lawyers, guns, and money
Oo, yeah
Yeah
Yeah”

Zevon’s performance of “Lawyers, Guns, and Money”:

RogerG

Read here for more:

* “Follow Daniel Cameron’s lead, purge every hint of ESG from your state’s finances”, Washington Examiner, Nov. 4, 2022, at https://www.washingtonexaminer.com/restoring-america/faith-freedom-self-reliance/follow-daniel-camerons-lead-purge-every-hint-of-esg-from-your-states-finances .

* “Utah pushes back against pro-Putin ESG financial analysis”, Washington Examiner, May 2, 2022, at https://www.washingtonexaminer.com/opinion/editorials/utah-pushes-back-against-pro-putin-esg-financial-analysis .

Today’s Opportunities for a Columnist with Flair, Heather Wilhelm

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Electric cars sit charging in a parking garage at the University of California, Irvine, in Irvine, Calif., 2015. (photo: Lucy Nicholson/Reuters)

I get a kick out of Heather Wilhelm’s columns. She writes for The Wall Street Journal, Commentary, National Review, etc., and calls Austin, Tx., home. She has a flair, as in a recent piece “Running on Fumes”. The topic is California’s fetish for electric cars. As I’ve written many times, it’s a looney idea. Wilhelm agrees . . . with flair.

Here’s some juicy tidbits from the column, with a few quips of my own:

* “. . . America’s favorite loopy wine-swilling communist aunt who dabbles in astrology and mushrooms — I’m speaking, of course, of the government of California . . . .” — What a great distillation of Sacramento.

* “What could go wrong?” [A reference to California’s brain fart to end gas-powered cars by 2035 coupled with the state’s grid operator recently requesting a stop to EV charging from 4 pm to 9 pm.] Putting it in more laymen terms in a fictional expansion of the announcement, she wrote, “ . . . freeze, just like a statue, between the hours of 4 p.m. and 9 p.m., avoiding movement that could cause an injury, lest you have to walk 16 miles to the ER with a broken scapula. Please also refrain from having any personal emergencies that might require a car during this specific time window. And for heaven’s sake, do not — please do not — go into labor between the hours of 4 p.m. and 9 p.m.”

* Then she quotes a Newsom spokesperson: “We’re not saying don’t charge them. We’re just saying don’t charge them between 4 p.m. and 9 p.m.” — You can’t make this stuff up. California is an SNL skit in real time.

* “Ah. Remember: If you’re going to get appendicitis, don’t.” — Need I say more?

* “California is a gorgeous state filled with natural wonders and wonderful people, but pretty soon the only way to get out of the place might involve the few remaining clusters of beleaguered residents’ begging Ron DeSantis to fly them to Martha’s Vineyard.” — Nicely put.

* On EV road trips: “Electric cars are great, unless you actually want to go somewhere that’s, you know, far.” Further, “. . . if you want to take a road trip with a car that plugs in, in a vast, sprawling country with multiple wilderness areas that will likely never have an abundance of places to plug it in . . . well, you might want to give the whole idea a second thought.” — You say?

* Or this line about her: “I believe in self-sufficiency, am a bit of a prepper, and always keep my gas tank at half full or higher in case the apocalypse breaks out or Beto O’Rourke somehow gets elected to some form of public office.” – The latter hypothetical would be proof that the electorate went mad. Again, hope that DeSantis will fly you to Martha’s Vineyard.

* Lastly, this jab at the airheaded central planners like Newsom and his coterie of sadomasochistic Green New Dealers: “I’d bet on the free market to do a better job than a guy like Gavin Newsom.” Precisely, let people decide – it’s called a free market – and not some shortsighted drunk-on-power goofs with an adolescent vision.

Radical visionaries seldom trouble themselves with consequences. With the “sustainable” grid chronically down, a heat wave means that you’ll . . . sweat, hopefully not into stroke. No electricity, no air conditioning. After controlling your usage with “smart” thermostats – beware of Alexa – the same geniuses might mandate the return to the Victorian 13-foot ceiling and ban air conditioning to go along with your gas-powered car. In one fell swoop, the state’s housing stock of 8-foot ceilings will be made obsolete. Our airheads follow in the footsteps of the many totalitarians who have gone before. They will make you into their better person even if it’ll ruin you.

Heather Wihelm’s full article is at https://www.nationalreview.com/magazine/2022/10/17/running-on-fumes/.

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RogerG

Real Institutional Racism in the Boardroom

The admissions building at Harvard University in Cambridge, Massachusetts. A trial widely perceived to be a referendum on affirmative action is scheduled to begin Monday. (HADLEY GREEN / The New York Times, file)
The admissions building at Harvard University in Cambridge, Massachusetts. (HADLEY GREEN / The New York Times, file)

Benjamin Disraeli (19th century British politician, Prime Minister, and writer/philosopher) in his book “Sybil, Or the Two Nations” wrote of the deep split of a people into two camps, almost nations, each completely estranged from the other:

“Two nations; between whom there is no intercourse and no sympathy; who are as ignorant of each other’s habits, thoughts, and feelings, as if they were dwellers in different zones, or inhabitants of different planets; who are formed by a different breeding, are fed by a different food, are ordered by different manners, and are not governed by the same laws . . . .  THE RICH AND THE POOR.”

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Benjamin Disraeli

For him, the divide was between the rich and the poor, an artifact of a time of much greater hardship.  For us, it is between the blue silos of a radical Left cultural ethos and the red hinterlands of the traditions of standards, faith, the rule of law, equality before the law, and popular sovereignty under constitutional checks.  The former wishes to overthrow the latter.

In these isolated little blue enclaves, overwhelmingly inner cities and college campuses, the hyper-wealthy and academics can entertain ideological fancies far afield from the lives of the vast majority of people living outside, people who are actually struggling with the daily realities of living and not secure from them by walls, money, and tenured academic freedom.

How could the corporate boardroom – in the past immune – become so enthralled by this revolutionary ethos?  The answer lies in the social realities of living in a narrowly confined space of limited interactions.  A homogeneous mind incubates in a scene of intermarriage, secluded social engagements in a protective cocoon, and an upbringing that transmits the same campus cultural revolution in these secluded social petri dishes.

los angeles estate
Security gate at a Beverly Hills estate

Adapting Mao’s Long March mythology, Rudy Dutschke, a leader of the German radical Left of the 1960s, advocated a long march through institutions in that 1967 time of troubles of strikes, riots, and massive protests in the West.  Rather than tear the institution down, take them over, he said. Well, it happened.  Yesteryear’s student radical is today’s tenured college faculty with matriculated mental offspring littered throughout the Fortune 500.

What brings this to mind?  Eighty-two American companies expressed their official support for race-based college admissions, loosely referred to as affirmative action, in two cases before the U.S. Supreme Court involving the University of North Carolina and Harvard (see their briefs below).  Big corporate players such as Google, Apple, JetBlue, and General Electric produced briefs utilizing the same old neo-Marxist rhetoric of group-conscious oppression.  Rhetorically, the table is set for the talisman of “diversity”.  Merit is redefined as being a member of the proper race or possessing the proper genitalia and calling it “diversity”.  No, this isn’t diversity of opinion.  It’s the diversity of immutable characteristics.  Competence and a special gnosis, it is assumed, emanates from melanin count and genitalia, not from observable qualifications.  It’s preposterous.

The pretzel logic required to make this scheme marketable boggles the mind.  In Monday’s hearing before the Supreme Court, defense counsel emphasized the gambit of race as one among many factors but couldn’t escape withering cross examination from Chief Justice Roberts and Justices Alito and Barrett.  The inescapable fact is that at least some admissions will be based on race, and thusly a violation of statute and the Constitutional guarantees of equal protection.  Trying to hide race among the weeds doesn’t eliminate the fact that race will be determinative to award advantages to some to the detriment of others not so privileged with the right skin color and genital comportment.

How could they get away with this after a Civil War, the Fourteenth Amendment, Brown v. Board of Education, and the various Civil Rights Acts in the long campaign to end the award of benefits and/or disabilities based on race or other immutable factors?  The whole enterprise relies on rhetorical legerdemain and a mountain of verbiage in bastardized “studies” to the point that “studies have shown” has gained the reputation as a tipoff for ideological skullduggery.  It’s a new Jim Crow favoring the radical Left’s “oppressed”.

And an afront to most people’s practical sense of fairness.  There’s a reason why lady justice wears a blindfold.

May be a cartoon of text that says 'PERSONNEL DEPARTMENT NO WHITE MEN NEED APPLY. Belu ©2012 BALOOCARTOONS. "We got tired of explaining to everybody what affirmative action' means."'

Not surprisingly given their backgrounds, corporate titans have bought into it.  Read the briefs and you’ll find the ritual abuse of “diversity” and “qualified”, as in “Classroom diversity is crucial to producing employable, productive, value-adding citizens in business.”  Or, how about the claim that the favoritism produces “a pipeline of highly qualified future workers and business leaders”?  “Highly qualified” just became an oxymoron.  “Qualification” now means the right melanin count and genitalia.

The whole thing is a legal, moral, and rational trainwreck.  To borrow a movie line, “Yes, Virginia, there is institutional racism”, but it’s coming from the folks who brought you The 1619 Project, CRT, the 2020 summer of BLM riots, home appliances, and annual college admission letters.  Amazing, the campaign against institution racism was always about furthering institutional racism.

May be a cartoon of text

RogerG

Read more here:

* The corporate briefs in Students for Fair Admissions v. University of North Carolina, and Harvard, can be found at https://www.naacpldf.org/wp-content/uploads/Brief-for-Major-American-Business-Enterprises-Supporting-Respondents-FINAL.pdf .

* An excellent synopsis of the case by Brittany Bernstein can be found at https://www.nationalreview.com/news/dozens-of-major-u-s-companies-urge-supreme-court-to-uphold-race-based-college-admissions/?utm_source=recirc-desktop&utm_medium=article&utm_campaign=river&utm_content=next-article&utm_term=first