Texas AG says Wall Street should stay out of politics


Weeks after his acquittal in an impeachment trial, Texas Attorney General Ken Paxton turned his attention in defense of a state law similar to one in Oklahoma—the targeting of banks who limit their financing of the oil and gas industry

Paxton said this week that Wall Street should stay out of the political sphere, according to Bloomberg.

“The founders were very fearful about large banks controlling how this country went,” Paxton he told the news group. “It’s part of the tension of democracy that states can push back on the big corporations and the big banks and say, ‘Wait a minute, you guys don’t get to decide what the law is in this country.’”

Paxton’s office is in the process of reviewing whether 10 financial companies violate a 2021 state law, which just like Oklahoma’s, punishes financial institutions which use their ESG policies of greenhouse gas emissions to discriminate against energy companies.

Just like Oklahoma does, those firms that violate the law cannot do business with the state or local governments.

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