2nd Vote Advisers Dan Grant Explains the Dynamics of the Partnership for Carbon Financial Accounting Act

2nd Vote Advisers Dan Grant Explains the Dynamics of the Partnership for Carbon Financial Accounting Act

 

Live from Music Row Tuesday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. –  host Leahy welcomed 2nd Vote Advisors Dan Grant in studio to explain how banks, Congress, and Democrats are colluding to create a barrier for new competition through legal legislation.

Leahy: We are joined in studio by our good friend Andy Ogles, mayor of Maury County, and also Dan Grant, head of 2nd vote Advisors. Andy, I just want to bring you in here for a second. What do you think of all this stuff he’s talking about here?

Ogles: Well, it’s amazing because I think people do want options. They want choices because so many of these corporations are going woke and you’ve got your banks now that are leveraging their resources to work against We the People.

Leahy: It’s crazy. They’re trying to crush small businesses by putting all these regulations, all these ESG regulations that cost money. And it’s a barrier to entry to new competition. And it’s anti-American. And that’s what Larry Fink and BlackRock and all these Democrats running in Congress and the regulators are trying to do Dan.

Grant: And that’s the goal. So let me tell you a little bit about how they’re trying to do it. So the banks are all announcing that they’re joining the Partnership for Carbon Financial Accounting right now.

Leahy: I got a headache already. Carbon accounting? Is that a new kind of accounting?

Grant: Is that going to impact Tennesseeans? And I’m here to tell you that it is absolutely going to do it. And this is how they’re doing it. So 110 of the largest banks in the world have joined this.

The third had their press release a couple of months ago. And basically what they’re doing is they are reporting the carbon footprint of their customers, of their loan portfolios.

Leahy: Of their customers.

Grant: Of their customers.

Leahy: It’s none their business.

Grant: So what they’re doing as an industry group is they’re saying, okay, this customers carbon footprint we do not like. They are going to raise the pricing of those loans. And ultimately what they’re going to do is…

Leahy: Is that legal?

Grant: It’s legal. And they’re doing it. And ultimately, what they’re going to do is they are going to throw these companies out of the bank. Well, you can sit there and hear that and say there are 4,500 banks in this country, big deal.

They’re going to go to a smaller, medium-sized bank. And I would say, au contraire mon frere. That is not going to happen. Because what they’re doing is these ESG regulations.

Leahy: ESG. Environmental, social governance. Translation, left-wing junk.

Grant: Right. So the Partnership for Carbon Financial Accounting, this industry group is voluntary for these large banks.

Leahy: Like we’re talking Bank of America, we’re talking Wells Fargo. We’re talking to all these big banks where most people do their banking.

Grant: So what they’re doing is they are doing the societal good. They’re raising loan pricing on bad companies with high carbon footprints and throwing them out of the bank.

Leahy: This is anti-free market! Didn’t Adam Smith talked about the invisible hand of the market and it’s that invisible hand that ends up in the best good for all the economy. Andy, I see you wanted to jump in here on this. You’re a free-market guy, right?

Grant: That’s not what they’re saying to Congress. I can promise you, these banks are not going to Congress saying exactly what you said. What they’re saying to Congress is we are doing this for the good of society.

These customers we’ve thrown out of the bank are going to small and mid-sized banks now. Those money-grubbing midsized companies are not looking out for the greater good of society.

They need to be regulated. So what is voluntary at the large corporate level is regulatory at the small and mid-size companies.

Leahy: Are those regulations in effect now?

Grant: The House just passed the Corporate Governance Improvement and Investor Protection Act.

Leahy: Okay, let me just say whenever the Democrats pass a law that says X, you can be sure that it’s actually going to accomplish not X. That’s an example.

Grant: No, no, no. Maxine Waters was out there last week disagreeing with you, Michael. And she said, “It is surprising that to this day, there are no explicit ESG requirements and our investors are left to piece together the story of a company’s material risk with insufficient information.”

And I will tell you, if there is a material risk to any publicly traded company, it must be disclosed. I’ve been doing nothing but working with the SEC and attorneys for years on these ETS’s.

And if there’s a material risk, it needs to be in writing. But Maxine Waters, she’s here to help. She’s from the government. And she’s going to tell you that there is a whole new risk cloud out there that you need to be aware of.

Leahy: And the government needs to regulate it.

Grant: That’s right.

Leahy: And in other words, crush small businesses, small banks. That’s the plan. This is scary. Now for those listeners who want to do something about it, one of the things they can do is they can buy your ETFs.

Grant: Right.

Leahy: Exchange-traded funds. Now walk me through it. We talked about one, which is like the Second Amendment. Let’s talk about the pro-Second Amendment fund. Describe what that fund invests in.

Grant: There’s a corporate scale of one to 5, 1 and two Liberal, 3 neutral, four or 5 conservatives. And what we’ve done, we’ve rated all publicly traded companies, and we stick to mid and large-caps. So larger U.S. companies, nothing small-cap for now.

Leahy: When you say a mid-cap company, that would be a company with maybe half a billion in sales?

Grant: It’s more market cap driven.

Leahy: Market value?

Grant: So it would probably be 2 billion and up.

Leahy: In value. That’s a mid-cap. So anything 2 billion and up is something that we would consider.

Leahy: So my company Star News Digital Media would not be a mid-cap company.

Grant: You’d probably be a large-cap. (Laughter) A 100 billion and up.

Leahy: We will be a mid-cap company someday. (Laughs)

Grant: It’s mostly intangible unfortunately for you but highly valued nonetheless. We’ve rated these companies on a scale of one to five. And we’ve done that on issues that conservatives care about.

The First Amendment, Second Amendment, and life. And that is how we issue our security. We have a Second Amendment fund and it’s not necessarily companies that are out there supporting the Second Amendment.

Leahy: It’s companies that aren’t hurting it.

Grant: Aren’t hurting it.

Leahy: The rating would be either three neutral?

Grant: Three or four or five are going to be eligible.

Leahy: Now, there are 1500 companies that you look at?

Grant: So the S&P 500 is a large-cap. There are 400 that are mid-cap. So we look at the S&P 900 for our funds.

Leahy: Of those 900 how many are three, four, or five on the ratings?

Grant: I would say about 600, probably.

Leahy: That many? I’m surprised.

Grant: 90 percent of those are neutral.

Leahy: A three.

Grant: So there are very few companies that would rate a four or five to give you a sense.

Leahy: Do you invest in three, four, and fives?

Grant: We invest in three, four, and five.

Leahy: So I want to buy this. So what do I do?

Grant: Let’s say you have an E-Trade account or a Robin Hood Account You put in the ticker symbol EGIS.

Leahy: So I go to EGIS.

Grant: That’s right.

Leahy: I want to buy it because I like what you’re doing. How much does it cost?

Grant: So the share price today is probably about $30 a share.

Leahy: So I could buy one share for $30.

Grant: And if you didn’t like it the next day, you could sell it. It is a very liquid stock. You’re not buying it and you’re stuck with it.

Leahy: So I could buy today.

Grant: You can buy it today.

Leahy: One share for 30 bucks or more. And it’s liquid.

Grant: That’s right.

Leahy: But it’s liquid. It’s improved, hasn’t it? If I would have bought this when you started this, where was it?

Grant: So we launched the two funds publicly on November 18. By the end of the first quarter, Egis was up 20.8 percent compared to the S&P 500 at 10.7. And the other fund, LYFE which is a fund that supports life, obviously pro-life. The ticker LYFE, it was up the point versus the S&P 500 at 10.7 points, I think.

Leahy: And you got more of these coming, right?

Grant: We do. We’re launching more funds.

Leahy: When you launch the next one, tell us. But I think what I’m gonna do, I think I’m going to go after the show and I’m going to go buy myself some EGIS.

Grant: That would be great.

Leahy: That’s what I think I’m going to do. And we’ll track it. I think it’s going to do well personally.

Grant: We don’t have to be the size of Larry Fink to be effective. A guy like me can call a lot of these companies and say, hey, we are an owner.

Leahy: You know, one thing that I don’t like that’s going on in Congress right now is the efforts that a lot of these companies that are influenced by Larry Fink’s ESG left-wing junk are then sending letters to Congress.

Andy, we saw this story at The Tennessee Star today. Over 70 companies signed a progressive groups letter supporting the ‘For the People Act.’ Tell us why that struck a nerve with you.

Ogles: This For the People Act has to do with voting.

Leahy: By the way, let me just say they name it the For the People Act. But the real name is the Political Corruption Act.

Ogles: That’s right. They stole an election, and now we have all these audits going on. And so what’s plan B what’s plan C? How else can we try to influence elections? And so what these 70 companies are trying to remove, you have to be able to prove who you are to vote.

And it names race as an issue. But it says, working-class people. They say this in their press release are barriers to voting. Now, wait a second. If you’re working class, I’m assuming that you have a job. In order to get open a bank account, you need identification.

To have utilities, you need identification. All the basic things that we have to do day in and day out require a Photo ID. So why wouldn’t when you go vote, you’d be required to have a photo ID. Because you know what?

I want to make sure that my vote as Andy is cast by me. And so if someone just shows up at the ballot box and says, well, I’m Andy, and I want to vote, I want to be able to them to turn them away.

And so this idea that this is a barrier to voting is nothing more than more this virtue signaling and PC have gone awry.

Leahy: Dan Grant, head of 2ndvoteadvisers.com with these ETS. Electronic exchange-traded funds.

Leahy: See this is the guy that’s been doing this for a while. I stumbled through exchange-traded funds. Okay, so that’s one thing you do.

Listen to the third hour here:

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Tune in weekdays from 5:00 – 8:00 a.m. to the Tennessee Star Report with Michael Patrick Leahy on Talk Radio 98.3 FM WLAC 1510. Listen online at iHeart Radio.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Star News Network’s Washington Correspondent Neil McCabe on S1 Fail and Biden’s Agenda Coming to a Halt

Star News Network’s Washington Correspondent Neil McCabe on S1 Fail and Biden’s Agenda Coming to a Halt

 

Live from Music Row Wednesday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – host Leahy welcomed The Tennessee Star National Correspondent Neil McCabe to the newsmakers line to discuss the S1 ruling in the Senate, Biden’s failing agenda, and more spending despite hidden signs of inflation.

Leahy: On the newsmaker line, the very best Washington correspondent in the country, Washington Correspondent for The Tennessee Star and the Star News Network, Neil McCabe. Good morning, Neil.

McCabe: Michael, very good to be with you, sir.

Leahy: Big news last night. S1, the Corrupt Politicians Act, or, as the Democrats call it, the For the People Act, would have nationalized all elections went down in the Senate on a filibuster vote was 50 to 50, purely partisan.

All the Democrats voted for it. All the Republicans voted against it. It didn’t reach the 60 vote threshold. That deal is done. What do you make of that, Neil McCabe?

McCabe: I think what we have to recognize is that the entire Biden program is coming to an all-stop. Let’s just go through a shortlist. You may come up with something else but think of all of the things we were worried about on January 20. D.C. statehood, Puerto Rican statehood, packing the Supreme Court, ending the filibuster, the federal takeover of local voting prerogatives, increasing the taxability or getting rid of the cap on the tax-deductibility of local and state taxes, raising capital gains, bringing back the estate tax, and the infrastructure bill.

And we’ve got a Senate that now is taking off for two weeks. We basically have a House of Representatives that will be voting through July first. Then they’re taking a two-week break. They’ll be back from July 19 to the 30.

And then after July 30, they’ll be gone, in effect, except for sort of committee work, they will be gone from July 30th to September 20th when they will be back in town for the budget cut.

The Democrats still have the opportunity to use the reconciliation process. You’re allowed one bite of the apple and basically, you are allowed to pass a budget that is exempt from sort of the filibuster and other procedures. It’s a privileged motion because you don’t want someone to be able to stop the federal budget.

But that’s there. They have one bite of the apple and you can only do so much. And we saw that the restrictions on the reconciliation rule and why we didn’t get as big a pot from the 2017 tax bill, because that was passed through reconciliation. So that’s basically the state of play right now, Mike.

Leahy: Neil, let me ask you this question. So the legislative agenda of Joe Biden is stalled, but Crom thinks that’s a head fake. Why don’t you pose your question to Neil about that?

Carmichael: Neil, the administrative state is forcing many of the issues forward that the hard left would like to see pass in legislation. They’re doing it through the administrative state.

For example, when the Secretary of Defense, often unilaterally just came out and said that the Court of Military Justice and that whole procedure will now not apply to cases of sexual harassment in the military that will move over to the Department of Justice and out of the purview of the military.

He did that on his own with a stroke of a pen. There are corporations all across this country, I mean, thousands of corporations that are being forced to have sessions where white employees are being shamed by Black employees.

These are meetings and Zoom calls where Black employees are actually encouraged to tell white employees how terrible they are as people under critical race theory. And that’s going on because it’s being forced on companies and banks.

And the FDIC is using its power to tell banks who to lend money to, who not to lend money to, and under the threat of having bank examiners race in and wreck the banks.

Leahy: So what do you think about that, Neil?

McCabe: Well, listen, the great Andrew Breitbart said that the media is more powerful than the government, and the media is controlled by the left. And the media has created that permissive environment where all of these things can happen.

And that is true. And, yes, the president has enormous power to do things administratively. And Biden has a unified administration. He doesn’t have what we had for the previous four years which is Donald Trump and a bunch of establishment Republicans.

Because Trump tried to run a coalition government with the Republican establishment, and the Republican establishment basically blocked him at every turn. All of the leaks coming out of the Trump White House were about how bad Trump is.

Whereas, like I said last week, all the leaks coming out of the Biden White House are factions, one faction versus another faction. But nobody’s saying we are defending America from this crazy President.

Which is what Trump’s own people were saying. I would say the vast majority of Trump’s staff was working against him. And so he was not able to exercise that extreme power that he has as the executive.

In the next midterm, the Republicans take back the House, and the Republicans probably pick up three Senate seats and things change. And when you control the House and the Senate, you can then restrict the presidency and the administrative state.

And I like what Senator Inslee said. He said hey, instead of making a one-term President will make him a half-term President. And I think that’s basically the mindset. But, you know, it’s up to the Republicans.

Basically, if McCarthy flipped five Democrats will become Republicans today, he would be the Speaker of the House today. He does not act like a guy who is within five seats of becoming the third most powerful person in the government. And that’s the problem. He’s trying to run out the clock. He’s got three and half years to go.

Carmichael: Let me ask you a quick question. When we get to September, will we have a giant budget that passes or we have a continuing resolution?

McCabe: They’re going to have continuing resolutions. And it’s going to stop and start from, say, the end of September to Columbus Day from Columbus Day of Veterans Day from Veterans Day to Thanksgiving.

And then they’ll sort of careening into the end of the year. And when all of these Congressmen and senators have to go home and they start to whiff the jet fumes from Reagan Airport, they’ll just pass whatever they have to pass to get out of town.

Leahy: Yeah, it’s the get out of town and pass whatever is in front of me by Congress. Go ahead.

Carmichael: I guess what I’m asking is Biden’s got a 6 trillion dollar budget that he’s put in front of the House. Will a 6 trillion dollar budget eventually pass in December?

McCabe: The Democrats and the Republicans will write a 6 trillion dollar budget. And there may be something of Biden’s priorities in there but it’s just going to be a continuation of the same.

And they’re going to pile on because there is a permissive environment for spending right now. And you’re going to see this empire strikes back on inflation is incredible. Read all the articles telling you that inflation is not a problem.

And it’s like a lot of people in Washington know that inflation is a problem. Let’s just get one more budget in before people figure it out.

Listen to the third hour here:

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Tune in weekdays from 5:00 – 8:00 a.m. to the Tennessee Star Report with Michael Patrick Leahy on Talk Radio 98.3 FM WLAC 1510. Listen online at iHeart Radio.