{"id":41882,"date":"2021-12-30T09:00:26","date_gmt":"2021-12-30T14:00:26","guid":{"rendered":"https:\/\/nationalcenter.org\/?p=41882"},"modified":"2023-12-12T15:19:37","modified_gmt":"2023-12-12T20:19:37","slug":"brian-moynihan-is-his-own-worst-nightmare","status":"publish","type":"post","link":"https:\/\/nationalcenter.org\/ncppr\/2021\/12\/30\/brian-moynihan-is-his-own-worst-nightmare\/","title":{"rendered":"Brian Moynihan is His Own Worst Nightmare"},"content":{"rendered":"

Brian Moynihan is the CEO<\/a><\/strong> of Bank of America (BOA). He is a multi-millionaire<\/a><\/strong>. He is also one of the chief proponents<\/a><\/strong> of environmental, social and governance (ESG<\/a><\/strong>) policy \u2013 how businesses justify their participation in politics as a muscle for left-wing causes.<\/p>\n

\"\"In a presentation<\/a><\/strong> to the Committee for Economic Development, Moynihan proved that he is \u2013 as suggested by Free Enterprise Project<\/a><\/strong> (FEP) Director Scott Shepard<\/a><\/strong> \u2013 \u201cinsufferable, delusional [and] fraudulent.\u201d In a Townhall commentary<\/a><\/strong>, Scott also declared that \u201che must be reined in.\u201d<\/p>\n

BOA has (un)distinguished itself as one of the key purveyors of ESG activism. Scott noted the company\u2019s most infamous examples include leveraging its North Carolina headquarters to advocate against the state\u2019s law protecting residents\u2019 dignity<\/a><\/strong> in public bathrooms, race-conscious training programs<\/a><\/strong> it later tried to cover up and a flip-flop on election integrity<\/a><\/strong> laws in Georgia and elsewhere.<\/p>\n

Scott explained there\u2019s a lot for BOA to lose \u2013 for Moynihan, his employees, his customers and his investors:<\/p>\n

He and his brain trust may want to pay careful attention to the fact that in BOA\u2019s home state of North Carolina a jury just\u00a0awarded<\/a><\/strong>\u00a0a hospital-industry executive $10 million for having been discriminated against because he was white. Given the discriminatory lending program at BOA \u2013 not to mention the explicitly racist employee training BOA has\u00a0sponsored<\/a><\/strong>, recommended to its employees and then lied about \u2013 Moynihan ought to take note.<\/p><\/blockquote>\n

And, as Moynihan revealed and Scott chronicled, BOA\u2019s c-suite is wholly responsible for any damage wrought by the politicization of its business:<\/p>\n

For while Moynihan claims\u2026 that his \u201cESG\u201d interventions are simply encapsulations of the will of BOA stakeholders, he then quickly reveals that they are instead the personal policy preferences of the \u201ctop people\u201d with which Moynihan has surrounded himself.<\/p><\/blockquote>\n

\u201cHe didn\u2019t mean to,\u201d Scott remarked, \u201cbut he admitted it: stakeholder capitalism is a fraud, a pretense.\u201d<\/p>\n

Moynihan also seems to fail to notice he embodies the problem he claims to be fighting. As a millionaire CEO in charge of an environment he claims perpetuates a \u201cracial and social justice crisis,\u201d Scott asserted that \u201cMoynihan is the greatest white supremacist and systemic racist at BOA, and one of the greatest in the world.\u201d<\/p>\n

\u201cIs he advancing \u2018justice\u2019 by redistributing his massive wealth and power?\u201d Scott asked. \u201cSurely you jest. That\u2019s for us to do so he can remain a master of the universe.\u201d<\/p>\n

All in all, Scott concluded that this is a case of the pot calling the kettle black:<\/p>\n

Brian Moynihan is a messianic menace, who has become a billionaire running a too-big-to-fail bank, and who now wants to use that bank and its owners\u2019 and clients\u2019 assets to constrain and diminish the lives of his guarantors (American taxpayers) while he remains a master of the universe.<\/p>\n

He must be reined in. Applying neutrality conditions to BOA\u2019s too-big-to-fail status is the tool. The time is long before now, but certainly the sooner the better.<\/p><\/blockquote>\n

To read all of \u201cDeconstructing Brian Moynihan\u201d at the Townhall website, click here<\/a><\/strong>.<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Brian Moynihan is the CEO of Bank of America (BOA). He is a multi-millionaire. He is also one of the chief proponents of environmental, social and governance (ESG) policy \u2013 how businesses justify their participation in politics as a muscle for left-wing causes. In a…<\/p>\n","protected":false},"author":9,"featured_media":36760,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[740,74,35,30],"tags":[77],"yoast_head":"\nBrian Moynihan is His Own Worst Nightmare - The National Center<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalcenter.org\/ncppr\/2021\/12\/30\/brian-moynihan-is-his-own-worst-nightmare\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Almasi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/nationalcenter.org\/ncppr\/2021\/12\/30\/brian-moynihan-is-his-own-worst-nightmare\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/nationalcenter.org\/ncppr\/2021\/12\/30\/brian-moynihan-is-his-own-worst-nightmare\/\"},\"author\":{\"name\":\"David Almasi\",\"@id\":\"https:\/\/nationalcenter.org\/#\/schema\/person\/986101645c65e8d001dc8de54beb396d\"},\"headline\":\"Brian Moynihan is His Own Worst Nightmare\",\"datePublished\":\"2021-12-30T14:00:26+00:00\",\"dateModified\":\"2023-12-12T20:19:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/nationalcenter.org\/ncppr\/2021\/12\/30\/brian-moynihan-is-his-own-worst-nightmare\/\"},\"wordCount\":514,\"publisher\":{\"@id\":\"https:\/\/nationalcenter.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/nationalcenter.org\/ncppr\/2021\/12\/30\/brian-moynihan-is-his-own-worst-nightmare\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nationalcenter.org\/wp-content\/uploads\/2020\/07\/Bank-of-America.jpg\",\"keywords\":[\"ConservativeBlog.org\"],\"articleSection\":[\"BAC\",\"Blog\",\"Featured\",\"Free Enterprise Project\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalcenter.org\/ncppr\/2021\/12\/30\/brian-moynihan-is-his-own-worst-nightmare\/\",\"url\":\"https:\/\/nationalcenter.org\/ncppr\/2021\/12\/30\/brian-moynihan-is-his-own-worst-nightmare\/\",\"name\":\"Brian Moynihan is His Own Worst Nightmare - 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