{"id":1989244,"date":"2023-08-02T21:30:02","date_gmt":"2023-08-03T01:30:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-under-congressional-investigation-for-exacerbating-an-already-significant-national-security-threat-report\/"},"modified":"2023-08-02T21:31:32","modified_gmt":"2023-08-03T01:31:32","slug":"blackrock-under-congressional-investigation-for-exacerbating-an-already-significant-national-security-threat-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-under-congressional-investigation-for-exacerbating-an-already-significant-national-security-threat-report\/","title":{"rendered":"BlackRock faces Congressional probe for worsening national security threat: Report"},"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\">20<\/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%2Fblackrock-under-congressional-investigation-for-exacerbating-an-already-significant-national-security-threat-report%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=1989244&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--><h2>A House Committee \u2063Investigates BlackRock and MSCI for Supporting \u2064the \u200bChinese Communist Party<\/h2>\n<p>A House committee is currently\u2064 investigating two mammoth \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-brooke-rollins-and-steve-yates-russia-is-small-beans-when-will-j-p-morgan-and-corporate-america-leave-china\/\" title=\"Exclusive \u2013 Brooke Rollins and Steve Yates: Russia Is Small Beans. When Will J.P. Morgan and Corporate America Leave China?\">asset management companies<\/a>, BlackRock \u200cand\u2064 MSCI, over\u200d their \u2064alleged links to companies that support the Chinese \u2063Community Party.<\/p>\n<p>The House of Representatives Select Committee on the Chinese\u200d Communist Party has notified BlackRock and MSCI about the investigation and has called for extensive \u2064details regarding investments that support China.<\/p>\n<blockquote>\n<p>\u201cIt is unconscionable for any U.S.\u200b company to profit from\u200b investments that fuel the military advancement of America\u2019s\u2063 foremost foreign adversary and facilitate human rights abuses. We therefore seek additional information regarding this deeply troubling matter,\u201d Committee Chairman Rep. Mike Gallagher of \u200dWisconsin and Ranking\u200c Member Rep. Raja Krishnamoorthi wrote \u2064in letters that went to\u200d the CEOs of\u2062 the\u200d two firms.<\/p>\n<\/blockquote>\n<p>The committee&#8217;s \u200dgoal, as\u2064 stated on \u2063their website, is to &#8220;build consensus on the threat posed by the Chinese Communist Party and develop a plan of action to defend the American people, our economy, and our \u200dvalues.&#8221;<\/p>\n<p>BlackRock manages over $9 trillion in assets, primarily through\u2062 pension plans and savings. The company has stated that it\u200b is working with the committee to address their concerns.<\/p>\n<p>MSCI, on the other hand, selects securities for indexes that are often used as a \u2062basis for investment portfolios. The Journal reported that over $13 trillion\u200d in assets are benchmarked to \u2064MSCI products. MSCI has stated that they \u200dare reviewing the committee&#8217;s\u200c communication.<\/p>\n<blockquote>\n<p>The \u200bletter to BlackRock revealed that \u201ca brief review\u200c of \u200cjust a few of BlackRock\u2019s funds revealed that BlackRock facilitates American capital flows to more than 20 blacklisted PRC companies.\u201d<\/p>\n<\/blockquote>\n<p>The committee&#8217;s \u200cinvestigation found\u200b that BlackRock\u200b has \u200cinvested more than $429 \u200dmillion in PRC companies that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/project-veritas-federal-source-reveals-known-terrorists-walk-freely-in-u-s-following-biden-afghanistan-pullout\/\" title=\"Project Veritas: Federal Source Reveals Known Terrorists Walk Freely in U.S. Following Biden Afghanistan Pullout\">pose national security risks<\/a> to \u2064the United States. The letter to BlackRock emphasized that these investments are funding companies that develop \u200dweapons for the People\u2019s Liberation Army (PLA) \u2063and advance the CCP\u2019s \u2062mission of technological supremacy.<\/p>\n<blockquote>\n<p>The\u200c letter to MSCI was \u200csimilar, noting that\u200b MSCI \u201cfacilitates American capital flows to dozens of blacklisted PRC companies.\u201d<\/p>\n<\/blockquote>\n<p>The committee&#8217;s investigation identified at least 40 listed companies across five indexes that are supported by MSCI. The letter called for disclosure of which\u200d companies \u2064were supported by investments and whether due diligence was conducted before investing in\u2064 those companies.<\/p>\n<p>The committee&#8217;s efforts are part of broader Congressional actions to address American support for Chinese companies. One such action\u2062 is the DITCH Act, a bill that aims to \u200dstop money from tax-exempt \u200bentities supporting China. The bill\u2064 would <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-under-congressional-investigation-for-exacerbating-an-already-significant-national-security-threat-report\/\" title=\"BlackRock faces Congressional probe for worsening national security threat: Report\">require tax-exempt entities<\/a>, such as non-profits and public pension plans, to divest from\u2063 Chinese companies or\u200c risk losing their <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/leah-remini-says-her-16-year-old-daughter-keeps-her-woke\/\" title=\"Leah Remini Says Her 16-Year-Old Daughter Keeps Her \u2018Woke\u2019\">tax-exempt status<\/a>.<\/p>\n<blockquote>\n<p>\u201cAmerican taxpayers \u200cshould not be forced to subsidize investments that benefit the Chinese Communist Party.\u200c Universities, non-profits, \u2062public pension funds, and other institutions that want <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/editor-daily-rundown-white-house-spent-whole-week-moving-goalposts-ahead-of-gdp-report\/\" title=\"Editor Daily Rundown: White House Spent Whole Week Moving Goalposts Ahead Of GDP Report\">preferential tax treatment<\/a> must choose: are \u200dthey committed to their \u200bprofessed values or to financing a genocidal communist\u200b regime?\u201d said Gallagher, who \u200bintroduced the bill in the House.<\/p>\n<\/blockquote>\n<p>Republican Sen. \u200cJosh Hawley of Missouri supports the bill in\u200b the Senate, stating that\u2063 investing in China goes against the values and interests of \u200dthe United States.<\/p>\n<p>As the investigation unfolds, it remains to be seen how these asset management companies will respond and what actions will be taken to address the concerns raised by the House committee.<\/p>\n<p>Source: <a href=\"https:\/\/www.westernjournal.com\/blackrock-congressional-investigation-exacerbating-already-significant-national-security-threat-report\/\" target=\"_blank\" rel=\"noopener\">The Western Journal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House committee is probing BlackRock and MSCI, asset management giants, for their ties to Chinese Communist Party-backed firms. Demanding comprehensive information on supportive investments, the House of Representatives Select Committee on the Chinese Communist Party initiated the investigation on Monday.<\/p>\n","protected":false},"author":661,"featured_media":1989245,"comment_status":"open","ping_status":"closed","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":[548],"tags":[],"class_list":["post-1989244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"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\/1989244","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\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1989244"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1989245"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1989244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1989244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1989244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}