19 US states fed up with BlackRock’s brazen efforts to function as a private government

submitted by penelopepnortneyBecome ungovernable from (ukcolumn.org)

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[–]risistill me 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

This position is clearly spelled out in the letter (UK Column mirror) by the Attorneys-General (AGs) of the following states: Alabama, Arizona, Arkansas, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, Oklahoma, Ohio, South Carolina, Texas, Utah, and West Virginia. They write in the interests of the state employees whose pensions are invested by BlackRock.

https://www.gkgigs.com/list-of-blue-states-and-red-states/

TBH, my knee jerk was that the states must be blue states, because of all the anti-BlackRock stuff I've heard and read from Democrats since Bush the Lesser was in office (when I first started paying closer attention to politics).

https://www.bloomberg.com/news/articles/2022-11-04/blackrock-spends-record-amount-on-us-political-campaigns-amid-esg-fallout#xj4y7vzkg

https://marketrealist.com/p/larry-fink-political-views/

[–]penelopepnortneyBecome ungovernable[S] 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (1 child)

Excerpt:

A close reading of a letter from nineteen US states that takes investment giant BlackRock to task for putting its Environmental, Social and Governance goals (ESGs) ahead of the best possible investment returns for American citizens reveals that BlackRock—which, along with Vanguard and State Street, is one of the “big three” in the index fund management field—is literally setting policy and governing the world in key ways.

This position is clearly spelled out in the letter (UK Column mirror) by the Attorneys-General (AGs) of the following states: Alabama, Arizona, Arkansas, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, Oklahoma, Ohio, South Carolina, Texas, Utah, and West Virginia. They write in the interests of the state employees whose pensions are invested by BlackRock.

The present article provides more details on the reality of private governance—craftily portrayed as “seeking dialogue” by BlackRock in this particular case—and on how it circumvents, or even usurps, governmental action by elected legislators.

[–]penelopepnortneyBecome ungovernable[S] 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (0 children)

FTA:

Signed by the chief law officers of 38% of the states in the Union, the letter does not mince words. Its second paragraph states:

Based on the facts currently available to us, BlackRock appears to use the hard-earned money of our states’ citizens to circumvent the best possible return on investment, as well as their vote. BlackRock’s past public commitments indicate that it has used citizens’ assets to pressure companies to comply with international agreements such as the Paris Agreement that force the phase-out of fossil fuels, increase energy prices, drive inflation, and weaken the national security of the United States.

These agreements have never been ratified by the United States Senate. The Senators elected by the citizens of this country determine which international agreements have the force of law, not BlackRock. We have several additional concerns that fall under our jurisdictional authority as attorneys general.