13 US States warn that giant climate activists funds are buying up public utilities
By Joanne Nova |December 23rd, 2022|Climate, Economy, Energy|25 Comments
Move over divestment and boycott — and move in activist shareholders wielding other people’s money. After naive shareholders sold out, they didn’t have much influence over a company. But if they bought enough shares instead, they could practically run the place.
Good people left their money unguarded in pension plans and it came to be used against them.
The three largest asset managers in the world are BlackRock, State Street, and Vanguard. They swept up the retirement money left unwatched in accounts Big-Government forced everyone to have. The Big Three now manage $20 trillion dollars combined. They also happen to want to end fossil fuel use and save the world — because they are nice people, right. So we face the dilemma — The citizens rejected NetZero, but the citizen’s money gives the power to men like Larry Fink, head of Blackrock, to harrass the boards of oil and energy companies in order to get NetZero through the back door.
To appreciate how influential these monster funds are, ponder that they are the largest shareholders in nine out of ten of the S&P 500 Index companies and lately, they have been buying up US power utilities.
https://www.cfact.org/2022/12/23/13-us-states-warn-that-giant-climate-activists-funds-are-buying-up-public-utilities/?utm_source=rss&utm_medium=rss&utm_campaign=13-us-states-warn-that-giant-climate-activists-funds-are-buying-up-public-utilities
