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Goldman Sachs says it will not fund IPOs of companies unless Board is diverse!!!

Quotas and affirmative action for the incompetent are everywhere. What about these NBA teams that are all black? Why is that ok?

jan 23 2020 CEO David Solomon told CNBC on Thursday his investment bank will help companies go public only if they have at least one “diverse” board member.

Solomon said the performance of public offerings of U.S. companies with at least one female director has been “significantly better” in the last four years than those without.

“Starting on July 1st in the U.S. and Europe, we’re not going to take a company public unless there’s at least one diverse board candidate, with a focus on women,” Solomon said on CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland. “And we’re going to move towards 2021 requesting two,” he added.


I guess they want to make money by investing in companies with competent leadership instead of companies that select leaders based on race rather than competence.