Justin Danhof SEC Lawsuit to stop NASDAQ Deplatforming 100721

Thank you for tuning in to Chosen Generation. Chosen Generation. If your church or group would like to have Pastor Greg come and share his passion to raise up a chosen generation, he is available to bring that same life-changing message and anointing to your event.

Again, that number is 830-446-3624. Give us a call and keep on listening because you are God's chosen generation. Welcome to Chosen Generation with your host, Pastor Greg Young. And welcome to the program. Great to have you with me. Thanks so much for tuning in. I know you have a choice on where you can listen each and every day. And I thank you for keeping it tuned here to Chosen Generation Radio. We've got a great program lined up for you, bottom of hour number two. Former Colorado Senator Ted Harvey will be with us.

He'll be joining us here. And we'll visit about a lot of the things that are happening in our country and what we need to be doing to get back on track. So we'll talk with Ted about that. And there's an awful lot to talk about. Continued pushes by this administration to really take over your life and from what they're doing to our children.

And now the threats to go after and investigate any parent that says that they don't like what's being taught to their children in public school. Folks, this is coming right to the kitchen table. We'll talk about it. Dr. Tom Barrett is going to be with us.

We'll talk about gold with him. We'll talk about a number of topics with Dr. Tom. He is also the editor of Conservative Truth and online magazines.

So you can be sure and check out Conservative Truth. You can find Tom at chosengenerationradio.com at the CG contributors page. Be sure and get signed up, by the way, at chosengenerationradio.com chosengenerationradio.com. Get signed up for the emails.

We put an email in your box just about every morning. Let you know some things that are going on that might be out there in the news, but you're not getting that information. It's important my people perish for a lack of knowledge. Important for us to have that information. So come in the hour, Zach Voorhees is with us, the Google whistleblower, and we'll get some more of the insight that he has relative to what they're doing in big tech, trying to manipulate and take over our thought processes. Literally, when you punch into an internet search, you may not be getting, and you are not getting, I'll tell you right now, you're not getting what you think you're looking for. And we'll talk to Zach about how they're doing it and some of the things you can do to mitigate that, to change that, turn it around. Gosh, folks, I got to tell you, it's heavy this morning.

Everywhere you look, it seems as though somebody's looking over our shoulder and trying to tell us what to do and not in a good way. I want to welcome my next guest. He's been battling this for a long time in the corporate world through the Free Enterprise Project.

It's a project of the National Center for Public Policy Research. You can find them also under CG contributors on the ChildrenGenerationRadio.com web page. And I want to welcome Justin Danhof to the program. Justin, welcome. Good to have you.

It's great to talk to you, Pastor Greg. Well, it's heavy, isn't it? It sure feels like that. Sometimes you just have to stop and watch a sunset or something and take a few deep breaths because it seems to be coming from all directions these days. The good news is we need to turn on our light, the light of Christ that is in us, because that is what dispels darkness. I was reading an article this morning talking about what is the fastest growing religion right now in the world.

And a lot of pundits would tell you, secular humanists, that Islam is. But did you know that actually Pentecostal Christianity is the fastest growing since the 1900s? Hey, that is a bit of good news. Thanks for sharing that. I didn't know that. Yeah, it's really something from 10 million in Africa.

Well, let me see. I think the number is 360 million, according to the article that I was reading. You know, from 10 million to 360 million. That's a pretty significant jump. I mean, absolutely. That's promising news.

And I'm glad that you're sharing it with everybody. Yeah, estimates are that there will be, here it is, the greatest wave they're looking at by the 2040s to 2050s, there will likely be 1 billion Pentecostals worldwide. Wow. More than Hindus, just as an idea. Yeah, and I had that number right. So in 1900, oh, in Africa, there were 10 million Christians in Africa, representing 10% of the population today. There are 360 million, representing just under half the population.

That's just in the continent of Africa alone. So while we know there's huge Christian persecution around the world, folks, be encouraged, because God will not be mocked. And He is advancing. The Kingdom of Heaven is at hand, and it's important that we recognize and understand that. And that's a good thing. That's a good thing. But Justin, we've got to keep fighting back, and that's what FEP is doing. You guys have a couple of things going on. We'll talk about the Rubio bill in a minute, but this is breaking literally.

It was just released this morning. And that is that the National Center for Public Policy Research has filed a lawsuit against the U.S. Securities and Exchange Commission over the SEC's approval of the NASDAQ stock market's board diversity rules. And this is right in line with what FEP battles, right, is this issue. And so it says that companies, NASDAQ listed companies, must establish a board of directors based on a quota, based on race, sex, sexual orientation, or explain why they haven't done so, or they're going to get kicked out of the NASDAQ stock market's board, right? I mean, you'll get kicked off of NASDAQ? That's insanity.

Talk to me, Justin. Yeah, it absolutely is insanity. But yeah, it's a pretty black and white rule that is going to go into effect unless our lawsuit is successful. So what NASDAQ did is they went to the SEC and they asked for permission. It's a little bit wonky, but as the self-regulatory organization, they have the right to essentially set their own rules.

They just need the SEC to then rubber stamp them. And so they went to the SEC and said, look, we want to kick any company off of our exchange. That means take away their ability to get public money because, of course, the NASDAQ is a publicly traded exchange. They said they want to kick any company off of their exchange that doesn't have at least two diverse board members. And of course, the left defines diversity as what you look like, that is your outward skin color and gender, and who you prefer to have sexual relationships with. That is the only definition of diversity that the left will accept.

And of course, the NASDAQ, like everything else, is far left these days. And so once the Obama administration took over and Gary Gensler was appointed as the head of the SEC, so now that the top of the SEC leans left, they rubber stamp this without a thorough review, in our opinion. And of course, this violates so many things. It violates common sense, first of all, but it also violates the U.S. Constitution. This isn't strictly drawn or narrowly tailored whatsoever. And again, the whole point, too, is the SEC and the NASDAQ have claimed, well, look, we're not telling every company they have to do it because we gave them this clause that they could explain why they were unable to diversify their board.

Well, come on, you and I know exactly what that is, Pastor Greg. That is setting them up for the left wing mob to just start throwing bombs at any company that doesn't comply. So that's not truly giving a company an option here.

All right. So let's, first of all, help me understand what is, I mean, NASDAQ is where companies are publicly traded, correct? Yes. And a company now, but a company can, to a degree, still sell, but they really couldn't. How would they sell their stock if they were delisted off of NASDAQ and how would the public invest in a public corporation that's not listed? Yeah, so they'd either have to find another exchange or they would have to go into the private equity market and become a privately held company. So those are their options. I mean, that's just it.

And here's the point, though. If you think that this is, this is why we're suing, right? Because there's the net, the NASDAQ is asking, NASDAQ is asking for this. Now I guarantee you the New York Stock Exchange is going to ask for it next.

And then guess what? If they're allowed to start getting away with this, well, this is just the first step because the liberal shareholder activists, which is where this started, this started with the Jesse Jacksons and the FBI, you and as you so, um, liberal shareholder activist organizations. Right now they're asking, you know, and they started this three or four years ago. So again, what the liberal shareholders are asking for now becomes mainstream in three or four years if no one does anything to stop it. And what they're asking for now is board quotas for quote non management employees, meaning union members, meaning the FBI, you being decision makers of corporations. And so that's the point is we have to stop this right now at this first request of the NASDAQ or else all these exchanges are going to start doing crazier things like demanding that they kick, they're going to kick you off if you don't put union members on your board.

They're going to kick you off if you're not carbon neutral by 2035. Trust me, this is all coming folks. Well, okay, but here's the other thing to think about. Who's going to want to sit on one of these boards when this is these are the new rules, SEC approved NASDAQ stock market LLC rules 5065F 50606 on August 6, the rules required that listed companies must disclose information about their board members. Listen to this folks, self identified gender, race and sexuality. In other words, who you sleep with. They want to know who you're having sex with. They want to know what your race is. They want to know which one of the 66 flavors do you say that you might be and then either include on their board minimum quotas of individuals of a certain gender, race and sexual identity.

This takes sleeping with the boss to a whole nother level, Justin. And that's part of our lawsuit is this is also compelled speech, right? That's the thing that people, you know, forget about the First Amendment to the government, you know, it can't compel speech from individuals. And so that's another interesting aspect of our lawsuit that we're pursuing here. And let's pray that we win because this type of this type of social engineering from the Securities and Exchange Commission. This is flying under the radar for most people. They didn't know this was happening and we're hopefully not going to let it happen. Well, and understand that private companies, so if they if they lose their listing on NASDAQ, according to the way that the laws are written, they become a private company. Now, private companies have an entirely different mean by which to try to raise funds, plus the fact the public is being denied the ability then to be able to invest in these companies. This changes the entire landscape of your IRAs, of your 401Ks, of your investment plans, all of it. It infects you folks.

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PatriotMobile.com forward slash chosen. Now back to Chosen Generation with your host, Pastor Greg. And don't forget you can get more Chosen Generation at www.ChosenGenerationRadio.com And welcome back to Chosen Generation Radio. I'm your host, Pastor Greg. Thanks so much for being here. I do know you have a choice in where you can listen each and every day and I thank you for keeping it tuned here.

My special guest is Justin Danhof. He is the Executive Director of the Free Enterprise Project. And you can find him at the website NationalCenter.org and just click on it or I'll make it easier for you. Just go to the front page at www.ChosenGenerationRadio.com. Click on CG Contributors and you'll find Justin and the Free Enterprise Project listed there.

Click on the picture of Justin and you'll go directly over and follow all the different things that are going on and that they're fighting. Of course, they filed this lawsuit against the SEC. But there's another story as well and that is the Marco Rubio Act. It is the Mind Your Own Business Act of 2021. And I love it. Based on everything we just talked about, folks, I'm telling you, I love it.

All right. Talk to me about this act. Does it really do that? Does it really tell the federal government to mind their own business? It actually tells CEOs to mind their own business, which is just as good in these days because CEOs are nothing more than liberal politicians at most large publicly traded companies. What this is is basically a shot across the bow at politicized CEOs such as Larry Sink at BlackRock, Tim Cook at Apple, Brian Moynihan at Bank of America who use shareholder money to pursue private political interests.

Right. When, you know, Bank of America cancels their gun clients or Apple funds, gay pride parade, you know, all across the country and everything else. Basically, shareholders have been without recourse to hold these companies accountable through the legal process. And that's because of something known as the business judgment that's been built up under the common law. And without going too deep into it, basically what the business judgment rule says is when a shareholder wants to sue a company for taking an action that they deem harmful to the company, they have to overcome the business judgment rule. And that is that the actions by a director, a board of directors or a CEO are deemed valid if there's any evidence that they acted in good faith, that this is what a reasonably prudent person would do, or quote, there was any reasonable belief that they were acting in the interest of the corporation. Essentially, what's been built up though over time through the common law is that a shareholder is not allowed to displace the business judgment of the management. Therefore, they're not allowed to use their business judgment as opposed to the management's business judgment. And so there's been really no good way unless you quite literally catch a director or CEO with their hand in the cookie jar stealing money and it's like caught on tape. There's almost no way for shareholders to successfully do management.

But that's what it was. The law was set up that shareholders were supposed to be able to do this, you know, 75, 80 years ago. But just over time, the common law has built up to give so much deference to managers. Well, Senator Rubio decided to do something about that. So in the Mind Your Own Business Act, he basically what his legislation says is no, if a CEO is taking a far, you know, an extreme politicized action, the CEO now has to defend that under his fiduciary obligation. He has to explain, you know, Brian Moynihan, a Bank of America, would have to explain how firing his own gun clients is actually in the best interest of the company and would make the company money.

And so it puts the onus back on the managers of these far left publicly traded companies to explain how their actions are actually helping the company. So I support the legislation. I endorse it. And I think folks should come to nationalcenter.org to reach out to Senator Rubio's office and thank him for being bold in this time of great weakness, frankly. 202-224-3121. Call your Congress member and tell them to support it.

Back with more, right after this. This is Adam Mundall with State Air and we are sponsors of Chosen Generation and Pastor Greg. Sponsoring this program has been a real blessing to our business and I want to encourage you to join me in sponsoring Chosen Generation and Pastor Greg. Call him today at 830-446-3624. Once again, that's 830-446-3624.

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