Wall Street has always hated Main Street. Never before, however, has it been so open and brazen in wielding that animus. Take, for example, Nasdaq’s recent pronouncement that it plans to delist any company from its exchange that won’t appoint board members based on how they look, whether they have sex with the “right” people, or identify as a letter in the LGBT lexicon.
Nasdaq’s dictate is wholly unconstitutional, panders to minority groups and women, and would financially strain many American businesses. Still, it’s pushing forward anyway because it thinks no one will have the courage to stand up and stop it.
Specifically, Nasdaq is seeking permission from the U.S. Securities and Exchange Commission (SEC) to delist any American company from its platform unless the company puts two “diverse” individuals on its board of directors. One position must be given to a female. And one position must be given to a racial minority or a member of the ever-broadening