State Lawmakers Are Waking Up To BlackRock’s Dangers To Americans, And Taking Action

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Three Federalist

West Virginia Republican Treasurer Riley Moore axed his state’s relationship with BlackRock last month over the $10 trillion investment firm’s dual loyalty to Chinese interests and woke capitalism.

“As the state’s chief financial officer and chairman of the Board of Treasury Investments, I have a duty to ensure that taxpayer dollars are managed in a responsible, financially sound fashion which reflects the best interests of our state and country, and I believe doing business with BlackRock runs contrary to that duty,” Moore said in a press release at the time.

 

Now the colossal Wall Street firm is void of oversight for the state’s investment fund, a liquid account worth approximately $1.5 billion. While it might not be much money to BlackRock, Moore tells The Federalist, it’s “a hell of a lot for the people of West Virginia,” and far too much to park with an investment firm infected by corporate wokeism working to defraud the state’s more than 1.7 million residents.

Despite holding $85 billion in coal assets as of January last year, BlackRock has emphasized its commitment to reaching net-zero carbon emissions, a near-term pledge incompatible with a flourishing energy industry reliant on instantaneous power provided by fossil fuels. The commitment while fostering Chinese investment has prompted well-founded skepticism about whether BlackRock has the best interests of its clients at stake.

Last week, the educational nonprofit Consumers’ Research unveiled a multi-million-dollar campaign to expose BlackRock’s close ties with the Chinese Communist Party (CCP). The watchdog published a new website on BlackRock’s CEO, WhoIsLarryFink.com, and debuted new ads for TV and radio complemented by mobile billboards in New York City, where the firm is headquartered.