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Listen: Vivek Ramaswamy gives best explanation of ESG: ‘The defining scam of our time’ – ‘Agendas that would make the blood of those retirees boil if they knew’

March 7, 2022
The Vince Coglianese Show
Vivek Ramaswamy Interview
Vivek Ramaswamy, the author of the 2021 book, Woke, Inc.: Inside Corporate America’s Social Justice Scam
WMAL radio host Vince Coglianese speaks with Vivek Ramaswamy, entrepreneur, political commentator, and best selling author.
Ramaswamy excerpts: 
On ESG, Environmental, Social and Governance: 
“What it means is they are using the private sector to effectuate a left-wing social agenda that they could not directly effectuate through Congress, and they tend to come in three-letter acronyms. ESG DEI, Diversity, Equity Inclusion. CSR, Corporate Social Responsibility. There are three-letter acronyms that word salad that are designed to hide the essence of what is going on, which is using corporate power to get done through the backdoor, what could not get done through the front door in our political process.
And there’s this scam underlying, I think it is the defining scam of our time — where you have actually the three largest asset managers in this country, State Street, Vanguard and the king of them all BlackRock, who together manage today over $20 trillion. That’s more than the GDP of the United States by the way. [These three asset management companies] are aggregating the money of everyday pensioners and retirees, etc. But using that, to then throw their weight around in corporate America saying, ‘You need these racial quota systems on your board. Yeah, you need to cut oil production. You need to reduce your carbon emissions.” Agendas that would make the blood of those retirees boil if they knew what was exactly going on, using somebody else’s money to advance a political agenda that they disagree with.
And here’s the kicker…they apply that to the US companies, but they don’t apply it to the Chinese companies. So in the United States, they preach ESG. In China, they supplicate to the CCP, as I say this is sort of the motto of companies like Blackrock around the world.
Question: I see this weekend in the Wall Street Journal, the Arizona attorney general Mark Brnovich says, Guys, this is an antitrust violation. This is an explicit violation of the Constitution. Of all of this corporate power for one agenda. Do you think that’s a good way to view this, Vivek?
Ramaswamy: “I read that article. It is the plainest legal argument hiding in plain sight. I was frankly embarrassed that of all legal arguments I made in Woke, INC., I actually missed this one. But this is staring us in the face where you have and congratulations to Mark Brnovich. He’s the Attorney General of Arizona for spotting it.
You have a coordinated effort between the most powerful financial institutions and money managers to decide to lend or invest in certain projects but not others. In ways that are raising prices for consumer goods of Americans. That is not the free market in action. It’s even worse than a monopoly or an ideological cartel. They’re working hand in glove with the party in power to be able to do their bidding through the private sector. If you couldn’t get the Green New Deal through Congress, guess what? John Kerry is doing? He’s getting every major banking CEO to sign the so-called Climate Pledge, which by the way, is not only an interest violation, though, I think it’s that too, but it is also a form of crony capitalism because I will tell you, you know, as well as I, banks are not charitable institutions.
The question is what are they getting in return for signing that climate pledge. This is the crony capitalism of our moment, and I just think the way in which the critical race theory issue was in mobilizing issue for Republicans in 2021. I think this issue relating to ESG and the abuse of their money to effectuate a political agenda back against them should be probably a defining issue of 2022 and 2023.
Don’t mess with my kids came first. Don’t mess with my money, I think comes second. And I don’t think the conservative base in this country has quite woken up to that yet. But you know, I think that those of us here who have spotted these issues, as actually where the rubber meets the road in terms of what affects our culture need to be speaking up.



Vivik Ramaswamy:

Climate change concerns are also being used in other ways to manipulate the financial system. Biotech entrepreneur Vivek Ramaswamy, the author of the book, “Woke, Inc.: Inside Corporate America’s Social Justice Scam,” explained how BlackRock founder and CEO Larry Fink is the “King of the Woke Industrial Complex” and acts as “the puppet master behind the scenes of Corporate America.”

“He is CEO of the world’s largest asset manager and what they do is they cause companies to bend the knee to woke orthodoxy, because BlackRock says that we won’t invest in your company, unless you abide by these progressive standards, or we will dock the pay of a CEO or fire a CEO who refuses to bend the knee,” Ramaswamy explained.

BlackRock uses other people’s money to force this ideology on companies, according to Ramaswamy. “It is not their money. That $10 trillion doesn’t belong to BlackRock. Say what you will about George Soros, at least it’s his money. In this case, It is money that belongs to you, to everyday Americans in this country whose blood would boil if they actually knew the way their own money was being used to force a progressive social orthodoxy back onto them,” Ramaswamy said.

“That is the defining scam of our time,” he concluded. 



Blackrock CEO Larry Fink has publicly admitted that he believes coercion is necessary to achieve his agenda. “Behaviors are going to have to change and this is one thing we are asking companies. You have to force behaviors and at Blackrock, we are forcing behaviors,” Fink explained in 2017 at a New York Times forum. “You have to force behaviors and if you don’t force behaviors whether it’s gender or race or just anyway you want to say the composition of your team, you’re gonna be impacted,” Fink said. He added, “We’re gonna have to force change.”
New York Times Events
Nov 9, 2017
DealBook 2017: The Economy, Consumers and Redefining the Long Term
Backup sources:


Watch: Glenn Beck on new climate financial rules: ‘This is the end of capitalism’ – Rips ESG or Environmental, Social, & Governance


Update April 2022: Disney’s largest investors are behind the company’s woke stance: ‘Woke Inc.’ authorVivek Ramaswamy, highlighting how Disney’s three largest shareholders, who own a combined 15.3% of the company, are BlackRock, Vanguard Group and State Street. Ramaswamy pointed out that Disney’s three largest shareholders are unlike an individual investor (for example, Elon Musk, who just bought a massive stake in Twitter), but are composed of everyday people who entrust institutions, such as BlackRock, Vanguard Group, and State Street, to manage their money. He went on to say that the money managers are “betraying their true clients” by pushing Disney and other companies to wade into the realm of politics and stakeholder prioritization. Stakeholder capitalism discards the understanding that the singular purpose of a corporation is to serve its shareholders and instead emphasizes providing value to customers, employees, suppliers, and communities. Recent years have seen a shift on Wall Street toward embracing stakeholder capitalism in addition to a focus on environmental, social, and governance standards.

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