Afederal judge in Texas granted a victory Friday to American Airlines pilots suing the company for sacrificing the profitability of their 401(k) fund to pursue liberal causes.
It’s a potentially major blow in a long battle against political investing, called ESG (or environmental, social, and governance). And it paves the way for battles against BlackRock and other globe-dominating businesses that funnel trillions of Americans’ retirement and investment dollars toward left-wing causes. More, it demonstrates how the political catastrophe that has befallen corporate governance these past five years can be undone — by the same tool with which it was made.
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