Consumers’ Research is after BlackRock again, and this time Executive Director Will Hild wants you to know how the asset manager is using the money of unsuspecting Americans to pursue a political agenda.
“BlackRock is using money that doesn’t belong to them to push an extreme agenda with no regard for American families who are paying the price not only now, but through their pension funds which are being weaponized to the detriment of their potential profits,” Hild noted, alluding to the firm’s fiduciary responsibility.
Hild’s organization launched a new national television ad to continue educating consumers. It points out that Biden’s chief economic advisor, Brian Deese, came from BlackRock. The video also talks about how the firm has been pricing American families out of the housing market by overpaying for houses it intends to turn into rental properties:
Consumers’ Research also sent a Consumer Warning to states whose economies have been negatively impacted economically in the last year. The list includes Colorado, Utah, Arizona, Nevada, Wyoming, Montana, New Mexico, Idaho, Alaska, Louisiana, Oklahoma, and Texas. Hild warned these governors:
Massive Wall Street firms are using your state’s investment dollars against its interests. They are leveraging the voting power of the shares they’ve purchased for clients to hamper American production and competitiveness. As a result, gas prices are surging, the cost of purchasing or renting homes is near record levels, and common grocery store goods are up more than 10 percent in the last year. This is largely due to firms like BlackRock pushing policies that are politically driven with no regard for the impact to the citizens of your state.
There are political solutions to combating environmental, social, and governance (ESG) initiatives, and leaders in some states are beginning to talk about them. West Virginia’s Attorney General Patrick Morrissey filed his second lawsuit against a federal agency. He is challenging the Securities and Exchange Commission’s (SEC) ESG reporting requirements after defeating the EPA at the Supreme Court last term. The SEC is supposed to protect investors but appears to be pursuing political aims aligned with the Biden administration.
Related: A New Investment Fund Is Taking the Fight Over ESGs to the Boardroom
The latest ad builds on a campaign that Consumers’ Research launched more than a year ago, setting off the alarms on what BlackRock and the ESG army are really up to. The campaign included a previous Consumer Warning informing Americans that BlackRock CEO Larry Fink was using other people’s money entrusted to his firm to go all in on China.
Hild and Consumers’ Research believe consumers can make better choices when they have the knowledge and freedom required to select products and services that focus on product quality and customer service rather than politics and virtue signaling. Several national ads have run targeting BlackRock‘s record on China, the firm’s environmental record, and Fink personally. You also may have seen some of the organization’s previous work targeting the woke hypocrisy of State Farm, Levis, and Coca-Cola, to name just a few.
According to Hild, “Consumers deserve to know where their investments are going, especially when it’s leading to higher costs everywhere from gas pumps and groceries to rent prices and housing costs.”
He also thinks consumers should take particular offense to Fink’s habit of telling them how to live, “We cannot let liberal elites like Larry Fink dictate how Americans should live so he can force an agenda and line his pockets.”
Hild continued, “Fink’s ESG façade is one of the biggest racquets the world has seen. We will continue our work to safeguard American consumers from unknowingly contributing to their country’s own downfall and the propping up of China’s communist regime.”
Is it working? The firm’s assets under management fell 22% in the first quarter of 2022, and recently Larry Fink told investors to expect low returns for at least the next ten years. Consumers’ Research highlights that low returns may be a function of what BlackRock invests in while pursuing its politicized green energy goals.
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