Wall Street Finally Walks Away From DEI?

I wonder whats prompting this choice?

It couldn’t possibly be the millions lost by companies.

Or maybe it was the billions lost.

Is it the billions, Wall Street.

Hey, Wall Street, where are you going?

C’mon, man. Can’t you wait til you lose trillions?

I guess they don’t have the resolve like Disney to keep pushing forward until they’ve destroyed their entire audience.

The table is finally turning. The people are tired of being taught to hate themselves.

Wall Street Scrambles To Abandon DEI As "Legal Assaults" Mount https://t.co/Om5CbfipNZ

— zerohedge (@zerohedge) March 5, 2024

Zero Hedge reports:

We’ve been stating for months that both the DEI and ESG gravy trains on Wall Street are finally coming to an unceremonious end. Who would have guessed the profit motive would be incompatible with mindless, unproductive virtue signaling and reverse racism?

The pushback on DEI has been immense, with entire universities and corporations slashing their DEI departments. Subha Barry, former head of diversity at Merrill Lynch, told Bloomberg this weekend: “We’re past the peak.”

The report highlighted yet another shift on Wall Street, wherein programs open to people of color and women are “now open to all”. Imagine that…

For example, Goldman Sachs has adjusted its “Possibilities Summit,” previously exclusive to Black college students, to now welcome White students as well. Bank of America Corp. has expanded its internal programs, initially aimed at women and minorities, to include all employees. Furthermore, Bank of New York Mellon Corp. has been advised by legal counsel to reevaluate and potentially eliminate strict diversity metrics from its workforce evaluations, according to a new report from Bloomberg.

Executives at major banks, including Goldman Sachs, publicly affirm their commitment to diversity, despite acknowledging privately the challenges posed by a growing campaign against DEI initiatives led by figures like Elon Musk and Bill Ackman, the report says.

Efforts to recruit diverse talent through programs for women and minorities are being reassessed, along with other diversity measures within corporations. Bloomberg says the shift is notable compared to the ambitious diversity pledges made by CEOs following George Floyd’s murder in 2020. Almost as if it was just mindless lip service to silence the ‘woke mob’…

The recent Supreme Court decision against affirmative action in colleges has intensified legal challenges to corporate diversity efforts, with banks wary of becoming lawsuit targets over claims of reverse discrimination, the report says. 

“The legal assault on corporate diversity initiatives is gathering steam” after the Supreme Court’s rejection of affirmative action at colleges, the report says.

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Did you catch that?

“Subha Barry, former head of diversity at Merrill Lynch, told Bloomberg this weekend: “We’re past the peak.”

We sure have! It’s time to hit the road with your propaganda, Barry!

https://twitter.com/realMBP/status/1765213217817608487

This needs to be the end for the job title called, ‘Chief Diversity Officer’.

It’s amazing how it spread like a disease so quickly among the business landscape.

The rise of the Chief Diversity Officer in many organizations has largely usurped the DEI company mandate & challenge from PR. New research explores how they work together. (@InstituteForPR and @Omnicom research) https://t.co/LfvwjevbIf #PR #DEI #CDO #communications #PRinsights pic.twitter.com/oE86r8qjcw

— Bulldog Reporter (@BulldogReporter) March 5, 2024

Let’s check in on some DEI-lovin’ companies:

We’ve got North Face.

Overpriced gear from a company that is racist. I will never buy anything from this company.

The North Face Tells Customers To Pass DEI Course For Discount https://t.co/yr8enhjS4E

— George Sanders (@GeorgeM10912400) March 5, 2024

There’s Google, of course.

The Woke DEI insanity ruining Google is far worse than previously known. https://t.co/xfzBEx6Gdf

— Breitbart News (@BreitbartNews) March 5, 2024

Here’s a few video game companies that can’t get enough of DEI with their morning coffee.

Sweet Baby Inc. may be on the radar lately, but remember they're not the only company like this. They all need to be named & shamed out of the industry because "DEI" consultants & their ilk have no place in the world of free creativity. pic.twitter.com/xnC4mO0Cbu

— Scratch Point (@Scratch_Point_Z) March 6, 2024

It's ESG.

Basically, companies like Blackrock and Vanguard, who have 15 trillion dollars in hand, give ratings to each company in existence based on environmental, social, governmental factors.

Put a lot of DEI, or as the kids say "woke" (which is basically just a label for… pic.twitter.com/Eb6pji4R0C

— Private Tom (@PrivateTom69) March 4, 2024

Though many companies are ending their DEI groups, keep an eye out.

These liberal-run companies love to rename it and start it back up again.