{"id":1777138,"date":"2022-12-16T07:17:28","date_gmt":"2022-12-16T12:17:28","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1777138"},"modified":"2022-12-16T07:17:32","modified_gmt":"2022-12-16T12:17:32","slug":"exclusive-west-virginia-treasurer-riley-moore-joins-calls-for-blackrock-ceo-larry-fink-to-resign","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-west-virginia-treasurer-riley-moore-joins-calls-for-blackrock-ceo-larry-fink-to-resign\/","title":{"rendered":"EXCLUSIVE: West Virginia Treasurer Riley Moore Joins Calls For BlackRock CEO Larry Fink To Resign"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-west-virginia-treasurer-riley-moore-joins-calls-for-blackrock-ceo-larry-fink-to-resign%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1777138&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>West Virginia Republican Treasurer Riley Moore became the second state chief financial officer to call on Larry Fink, CEO of the world\u2019s largest asset management company, BlackRock, to resign. <\/p>\n<p>Moore called for Fink\u2019s resignation during an exclusive interview with The Federalist over a recent letter from North Carolina Treasurer Dale Folwell to BlackRock\u2019s board of directors <a href=\"https:\/\/www.reuters.com\/markets\/us\/north-carolina-treasurer-calls-blackrock-ceo-fink-resign-2022-12-09\/\" target=\"_blank\" rel=\"noreferrer noopener\">demanding<\/a> Fink step down. Last Friday, Folwell admonished Fink for placing personal political priorities, of the kind embedded in so-called Environmental, Social, and Governance (ESG) standards, over the best interest of the company\u2019s clients.<\/p>\n<p>\u201cUnfortunately, Larry Fink\u2019s pursuit of a political agenda has gotten in the way of BlackRock\u2019s same fiduciary duty. A focus on ESG is not a focus on returns and potentially could force us to violate our own fiduciary duty,\u201d Folwell wrote. \u201cHaving lost confidence in his leadership to responsibly steward investors\u2019 resources, I request, quite simply, that he resign or be removed from the asset management firm\u2019s leadership team immediately.\u201d<\/p>\n<p>When asked whether Fink should step down, Moore agreed. <\/p>\n<p>\u201cYes, I think Larry Fink should resign,\u201d Moore told The Federalist, adding, \u201cI don\u2019t think he\u2019s obviously somebody who\u2019s too concerned about what policymakers in the United States think.\u201d<\/p>\n<p>In October, Fink took a victory lap for antagonizing American politicians on both sides of the aisle as head of the global financial management behemoth, which has roughly <a href=\"https:\/\/www.reuters.com\/business\/finance\/blackrock-reports-fall-third-quarter-profit-2022-10-13\/\" target=\"_blank\" rel=\"noreferrer noopener\">$8 trillion<\/a> in assets. While Republicans charge BlackRock with manipulating their constituents\u2019 tax dollars to pursue anti-energy policies against them, Democrats <a href=\"https:\/\/www.foxbusiness.com\/politics\/blackrock-not-esg-enough-nyc-comptroller\" target=\"_blank\" rel=\"noreferrer noopener\">say<\/a> BlackRock doesn\u2019t do enough to tackle the left\u2019s climate priorities.<\/p>\n<p>\u201cI\u2019m now being attacked equally by the left and the right, so I\u2019m doing something right,\u201d Fink <a href=\"https:\/\/fortune.com\/2022\/10\/13\/blackrock-ceo-larry-fink-says-hes-being-attacked-equally-by-the-left-and-right-in-esg-fight-so-im-doing-something-right\/\" target=\"_blank\" rel=\"noreferrer noopener\">said <\/a>at the annual membership meeting for the Institute of International Finance in October.<\/p>\n<p>\u201cThat\u2019s an interesting way to think of that,\u201d Moore told The Federalist about the comment. \u201cI think what he\u2019s done is make everybody mad.\u201d<\/p>\n<p>The West Virginia treasurer pointed out that BlackRock lost $2 trillion under Fink just this year. The day after Fink\u2019s remark about bipartisan frustration, Reuters <a href=\"https:\/\/www.reuters.com\/business\/finance\/blackrock-reports-fall-third-quarter-profit-2022-10-13\/\" target=\"_blank\" rel=\"noreferrer noopener\">reported <\/a>BlackRock\u2019s assets fell below $8 trillion following a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-14\/blackrock-s-assets-pass-10-trillion-for-the-first-time#:~:text=BlackRock%20Inc.,a%20record%20for%20the%20company.\" target=\"_blank\" rel=\"noreferrer noopener\">$10 trillion<\/a> high in January. <\/p>\n<p>\u201cDoes that sound like a guy who\u2019s doing something right?\u201d Moore said. \u201cIf anything, it\u2019s a cautionary tale to focus on the maximization of your return for your beneficiaries and your shareholders.\u201d<\/p>\n<p>Last year, Moore led a coalition of 15 GOP state treasurers who <a href=\"https:\/\/thefederalist.com\/2021\/11\/30\/15-states-threaten-to-pull-600-billion-from-banks-that-wont-give-equal-service-to-energy-industry\/\" target=\"_blank\" rel=\"noreferrer noopener\">threatened <\/a>to yank $600 billion in taxpayer assets away from firms that refuse investment in fossil fuels. Now several are following through on their pledge to protest \u201cwoke capitalism\u201d with divestment from BlackRock, a Wall Street pillar of ESG investing to reach net-zero carbon emissions. Fink\u2019s desire to conduct and maintain business with the Chinese Communist Party (CCP) to the <a href=\"https:\/\/thefederalist.com\/2021\/11\/03\/how-the-massive-money-manager-blackrock-endangers-u-s-prosperity-and-national-security\/\" target=\"_blank\" rel=\"noreferrer noopener\">detriment <\/a>of U.S. security has also <a href=\"https:\/\/thefederalist.com\/2022\/02\/18\/state-lawmakers-are-waking-up-to-blackrocks-dangers-to-americans-and-taking-action\/\" target=\"_blank\" rel=\"noreferrer noopener\">drawn the ire<\/a> of lawmakers. <\/p>\n<p>In his letter to BlackRock\u2019s board of directors last week, Folwell informed the firm\u2019s leadership that the financial giant may no longer oversee the state\u2019s $14 billion from the<\/p>\n","protected":false},"excerpt":{"rendered":"<p>West Virginia Treasurer Riley Moore became the second state chief financial officer to call on BlackRock CEO Larry Fink to step down.<\/p>\n","protected":false},"author":494,"featured_media":1777141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[7002,3755,3850,3725,6919,7319,4454,4794,8448,4495,9522,6434,5468,3841],"class_list":["post-1777138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist","tag-blackrock","tag-calls","tag-ceo","tag-exclusive","tag-federalist","tag-fink","tag-joins","tag-larry","tag-moore","tag-resign","tag-riley","tag-treasurer","tag-virginia","tag-west"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1777138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1777138"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1777138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1777141"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1777138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1777138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1777138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}