A growing coalition of state governments is pushing back against the world’s largest asset manager, saying it is putting its political agenda over the interests of clients and even U.S. national security.
Last week, a group of 19 state attorneys general from Republican-leaning states sent a strongly worded letter to BlackRock CEO Larry Fink demanding an end to this agenda and a return to fulfilling its fiduciary duties, suggesting the company’s actions may even be illegal.
Investigations and further legislative action may be next, state officials involved told The Epoch Times.
“Our state is heavily invested in organizations like BlackRock, and those organizations owe a fiduciary duty to the state of Montana to invest our money in the best way possible to earn returns,” Montana Attorney General Austin Knudsen said in a phone interview. “That doesn’t include pushing a liberal agenda.”…