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After the Lehman-induced banking crisis, banks were required to issue Additional Tier-1 (AT-1) bonds so that those funds, instead of taxpayer funds, could be used in case the banks needed a bailout. A lot of HNIs (High Networth Individuals), ETFs (exchange traded funds) and the usual suspects pension funds invested in these bonds. Merchant banks like Goldman Sachs charged millions of dollars in advisor fees for helping these investors find these AT-1 bonds, also known as Contingency Convertible (CoCo) bonds. Safe in the knowledge that the AT-1 bonds provided them a cushion, marquee names such as Credit Suisse and Deutsche banks invested in a variety of woke causes and other risky investments. As these bets turned sour, their AT-1 bonds have come in to focus. In case of Credit Suisse, the AT-1 funds were grabbed by the regulator who merged the bank with UBS (Union Bank of Switzerland). Investors took a massive haircut. Deutsche Bank's AT-1 bonds have fallen in value so much that the yields have risen to 16%. The share price of Germany's biggest bank has lost one-fifth of its value in the last month. Commerzbank, another big German bank, is also suffering the same fate.
If any fund is Environmntal (E) or Social (S), it will not make money. If it will not make money, then it is automatically disqualified for the last part Governance (G).
The globalist kleptomaniacs want to drive cheap money to woke causes. The Federal Reserve had appointed to BlackRock to do the investing for hundreds of billions of dollars. In order to get access to the free money from BlackRock, grifters started these E&S funds. Several regular G funds invested in woke causes so they could get the E&S label. The Federal Reserve money is debt that will have to paid back by US taxpayers so it is their money.
Essentially, ESG funds looted taxpayer dollars using BlackRock as a conduit. The ESG implosion should be blamed on Federal Reserve and BlackRock. Their officials should be hauled to jail.
After the Lehman-induced banking crisis, banks were required to issue Additional Tier-1 (AT-1) bonds so that those funds, instead of taxpayer funds, could be used in case the banks needed a bailout. A lot of HNIs (High Networth Individuals), ETFs (exchange traded funds) and the usual suspects pension funds invested in these bonds. Merchant banks like Goldman Sachs charged millions of dollars in advisor fees for helping these investors find these AT-1 bonds, also known as Contingency Convertible (CoCo) bonds. Safe in the knowledge that the AT-1 bonds provided them a cushion, marquee names such as Credit Suisse and Deutsche banks invested in a variety of woke causes and other risky investments. As these bets turned sour, their AT-1 bonds have come in to focus. In case of Credit Suisse, the AT-1 funds were grabbed by the regulator who merged the bank with UBS (Union Bank of Switzerland). Investors took a massive haircut. Deutsche Bank's AT-1 bonds have fallen in value so much that the yields have risen to 16%. The share price of Germany's biggest bank has lost one-fifth of its value in the last month. Commerzbank, another big German bank, is also suffering the same fate.
If any fund is Environmntal (E) or Social (S), it will not make money. If it will not make money, then it is automatically disqualified for the last part Governance (G).
The globalist kleptomaniacs want to drive cheap money to woke causes. The Federal Reserve had appointed to BlackRock to do the investing for hundreds of billions of dollars. In order to get access to the free money from BlackRock, grifters started these E&S funds. Several regular G funds invested in woke causes so they could get the E&S label. The Federal Reserve money is debt that will have to paid back by US taxpayers so it is their money.
Essentially, ESG funds looted taxpayer dollars using BlackRock as a conduit. The ESG implosion should be blamed on Federal Reserve and BlackRock. Their officials should be hauled to jail.
Created: 25 March, 2023 | Updated: 28 March, 2023
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