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Merrill Lynch Assigns “Environmental, Social and Governance” (ESG) Scores to Rate Customer
Posted on 4/11/21 at 9:50 am
Posted on 4/11/21 at 9:50 am
USSA is here.
1- fake election
2- Fed Gov seizing control of rights.
and now we are getting social scores.
In 2018 Google helped the Chinese Communists develop a social credit scoring system. The scoring system, first announced in 2014, rates China’s one billion citizens based on their behavior and associations.
Already, nine million people with low scores have been blocked from buying tickets for domestic flights and trains.
Silicon Valley tech giants are using a similar system here in the United States. Facebook is using offline behavior to factor into their scoring system.
Now financial giant Merrill Lynch is assigning an Orwellian Environmental Social and Governance (ESG) score to their customers.
LINK
1- fake election
2- Fed Gov seizing control of rights.
and now we are getting social scores.
In 2018 Google helped the Chinese Communists develop a social credit scoring system. The scoring system, first announced in 2014, rates China’s one billion citizens based on their behavior and associations.
Already, nine million people with low scores have been blocked from buying tickets for domestic flights and trains.
Silicon Valley tech giants are using a similar system here in the United States. Facebook is using offline behavior to factor into their scoring system.
Now financial giant Merrill Lynch is assigning an Orwellian Environmental Social and Governance (ESG) score to their customers.
LINK
13
Posted on 4/11/21 at 9:54 am to Jjdoc
We need some serious data privacy law overhauls in this country.
So I was banned from Twitter.
I haven't posted to Facebook in about 12 years.
A Parler account I barely use.
Looks like I'm fricked.
So I was banned from Twitter.
I haven't posted to Facebook in about 12 years.
A Parler account I barely use.
Looks like I'm fricked.
Posted on 4/11/21 at 9:58 am to Jjdoc
Wow. Really? What? It is incredibly stupid business to piss off your customers or clients. They can and will go elsewhere.
Get woke, go broke.
Kiss my red, white and blue arse.
Get woke, go broke.
Kiss my red, white and blue arse.
Posted on 4/11/21 at 9:58 am to BiteMe2020
I once saw a video of a Chinese man sneak onto a bus and the rest of the citizens turned on him beat him and threw him off the bus.
It was sad because the man may be prohibited from riding busses due to his social score.
They don’t allow children if people with low social scores to go to school.
Spending time near a known Christian like working together or being tracked to their house will lower your score.
It was sad because the man may be prohibited from riding busses due to his social score.
They don’t allow children if people with low social scores to go to school.
Spending time near a known Christian like working together or being tracked to their house will lower your score.
Posted on 4/11/21 at 10:00 am to Jjdoc
The leftists here think this is great stuff
Posted on 4/11/21 at 10:01 am to Lynxrufus2012
quote:
Get woke, go broke
I don’t believe this. Unfortunately most conservatives are penny pinchers, if they can make a buck using Merrill's services they will.
This post was edited on 4/11/21 at 10:10 am
Posted on 4/11/21 at 10:04 am to Jjdoc
Posted on 4/11/21 at 10:20 am to burger bearcat
My IRA is with Merrill
Posted on 4/11/21 at 10:24 am to biglego
I wonder when your fees and account will be charged based on your score
Posted on 4/11/21 at 10:33 am to Jjdoc
A large number of investment firms are doing this.
Posted on 4/11/21 at 10:34 am to Jjdoc
quote:This is a dumb (probably dishonest) framing.
Merrill Lynch Assigns “Environmental, Social and Governance” (ESG) Scores to Rate Customer
ESG is all the rage in investment management now. Clients are asking for ESG investments. That is - they want to know how "ESG" their investment account is so they can possibly tweak it to make it even more so. Lots of start ups are competing for the best ESG software. It's a bunch of bullshite that attempts to rate companies based on ESG parameters you care about - some customers would WANT Tesla because they deemed EVs to be ESG and some would NOT want Tesla due to the batteries possibly being a hazard and Musk being a fraudster. etc.
Here is one of the major startups.
Ethic
Literally the purpose of the software is to help clients pick ESG stocks according to their own preferences. It generates a page like the one shown in the ridiculous Gateway Pundit "article".
Sheesh. Can we please not have EVERYthing be a gottdamned conspiracy?
Framing this as ML scoring the customer for some nefarious reason is just stupid. And par for the course for this board.
Posted on 4/11/21 at 10:35 am to Jjdoc
This is the big new thing in the asset management business. I think it's terrifying and I've yet to find any peer reviewed articles on the investment efficacy of this approach, and yet, it seems to be full steam ahead with this.
Posted on 4/11/21 at 10:36 am to Lynxrufus2012
quote:Clients are absolutely demanding an ESG offering from their investment advisers. Institutional investors are already neck deep in this and now retail wants in. Why is it hard for you to believe that Karen wants to ease her guilt with some bullshite ESG stock picking/rating nonsense?
Get woke, go broke.
Posted on 4/11/21 at 10:37 am to Lynxrufus2012
quote:
It is incredibly stupid business to piss off your customers or clients.
Apparently I was living under a rock while these scores became a thing.
Unfortunately, I believe they will become universal.
Having low scores will be a serious vulnerability. You might be attacked by left wing extremists, or the government may attack you. Both represent serious and fundamental business risks.
Corporations will want to be rated to assess their exposure, at the same time, they’re also buying good scores. Merrill will find ways to puff up their clients and make them look good.
State governments need to ban them.
-
In Saint Petersburg, after the Tsar stepped down, the radicals distributed ribbons for people to wear. They were a way to show your allegiance to revolutionaries.
Normal people, and even government ministers, took to the ribbons in droves.
It wasn’t that they believed in the cause, or that they were socialists, they were just afraid, and they hoped the ribbons would protect them from the thugs in the street.
This post was edited on 4/11/21 at 11:23 am
Posted on 4/11/21 at 10:37 am to coolpapaboze
quote:In the long-term, how can it be anything other than sub-optimal? In the short-term, however, with all the funny money, stocks like Tesla can and have been bid up crazily.
I think it's terrifying and I've yet to find any peer reviewed articles on the investment efficacy of this approach
quote:This seems late in the game to be concerned with behavior in the investment field that has the support of peer-reviewed articles prior to being full steam ahead. See the entire actively managed industry which is trillions now.
and yet, it seems to be full steam ahead with this.
Posted on 4/11/21 at 10:38 am to Lynxrufus2012
quote:
Wow. Really? What? It is incredibly stupid business to piss off your customers or clients. They can and will go elsewhere.
Posted on 4/11/21 at 10:42 am to Big Scrub TX
quote:
Why is it hard for you to believe that Karen wants to ease her guilt with some bullshite ESG stock picking/rating nonsense?
Ive heard of this phenomenon. It’s completely asinine. I want my investments to make me money, as long as it’s not illegal idgaf what they do as long as they show me a good return.
Posted on 4/11/21 at 10:44 am to Big Scrub TX
quote:
In the long-term, how can it be anything other than sub-optimal?
Yes, but you have to weight that against your exposure to the lynch mob. And the threat that government interference poses in your business model.
The Democrats are choosing who’s allowed to win and lose. That’s a serious threat.
Posted on 4/11/21 at 10:48 am to Jjdoc
Just go ahead and assign me an "F".
Badge of honor imo.
Badge of honor imo.
Posted on 4/11/21 at 10:49 am to Lynxrufus2012
quote:Why are conservatives so stupid?
Wow. Really? What? It is incredibly stupid business to piss off your customers or clients. They can and will go elsewhere.
Get woke, go broke.
"Get woke, go broke."
Does it feel like Apple is going broke? What about Amazon? Walmart? Nike?
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