r/moderatepolitics • u/ShivasRightFoot • 26d ago

US appeals court rejects Nasdaq's diversity rules for company boards Culture War

https://apnews.com/article/nasdaq-sec-dei-diversity-board-a3b8803a646a62aeb2733bbd4603e670

192 Upvotes

93% Upvoted

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u/Sabertooth767 Neoclassical Liberal 26d ago

If NASDAQ wants to add a little logo that shows whether a company is sufficiently DEI, sure. But it's not their job to dictate the composition of corporate boards.

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u/-Boston-Terrier- 26d ago

I don't agree with forcing companies to be sufficiently DEI but on the other hand Nasdaq, Inc is a private company. I see no good reason they shouldn't be allowed to list only companies who meet their DEI requirements - even if I think those requirements are stupid.

Any company that doesn't agree with the requirements are always free to list on the NYSE or wherever else instead.

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u/todorojo 26d ago

The KKK was also a private entity. The rules we put in place to address the KKK arent just "don't discriminate against black people," it's "don't discriminate."

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u/-Boston-Terrier- 26d ago

I don't support the KKK but I do believe they should be allowed to exist too.

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u/todorojo 26d ago

That is a principled stance. I respect that.

Do you think that the civil rights legislation that was passed in the 60s should be repealed now? Rules that mandate that places of public accomodation not discriminate on the basis of race? I think more people are reconsidering whether that's necessary anymore. When it was originally passed, it was said to be temporary.

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u/-Boston-Terrier- 26d ago

Repealing civil rights era legislation isn't exactly something I'm advocating for but I don't think the legislation is needed today, think it's OK to acknowledge that, and do believe that private citizens/businesses/organizations should largely be allowed to do what they want so long as they're not hurting anyone.

That legislation was needed when it was passed but we live in a different world today. It doesn't make someone racist, etc. to acknowledge that. I see absolutely nothing that makes me believe that legislation is what is standing in the way of "whites only" restaurants or grocery stores. I don't believe that CEOs are just secretly hoping someone repeals those laws so they can get rid of a sizeable amount of their business. In fact I firmly believe the very few businesses that would enact policies like that would soon find themselves out of business.

But, yeah, I think private businesses should be allowed to hire who they want. Mind you, just because I believe that doesn't mean I'm looking to associate with people based on race, gender, or sexuality.

6

u/todorojo 26d ago

It's interesting how appalling the idea of doing away with civil rights legislation seems to the vast majority of people. But I don't think it's crazy. What's more, there was recent research on the effects of DEI—it made racism and race relations worse, not better. So I think it's plausible that civil rights legislation was necessary at a time when invidious racism was widespread and customary, but is now not just unnecessary but counterproductive. Kind of like many medications. They are helpful when there are medical needs, but harmful otherwise.

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u/zeuljii 26d ago

You can have opinions; you can form a community of people with similar opinions, and you can express those opinions. That's fine. It crosses the line when that expression, facilitated and encouraged by the organization, is threatening or oppressive. Same rule for NASDAQ. I don't think they've crossed that line, but it's worth watching.

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u/-Boston-Terrier- 26d ago

Well, sure. I certainly wasn't saying the KKK should be allowed to lynch people.

I just meant that they should be allowed to admit who they want to their organization. Mind you, just because I think they should be legally allowed to discriminate based on their racism doesn't mean I want to do that.