Wall Street Journal Letter: Poor Larry Fink

The Wall Street Journal today published this letter from NLPC Chairman Peter Flaherty:

Pity the situation of BlackRock CEO Larry Fink, who finds himself being mau-maued by green activists at his annual stockholder meeting for not doing enough to disinvest from fossil-fuel companies.

One way he can expiate his sins is to disinvest in the 153 China-owned or controlled companies as our organization recently called on him to do. Besides covering up the pandemic spread in Wuhan, Communist China is a major human-rights abuser, “re-educating” Muslim Uighurs in prison camps, conducting digital surveillance of its citizens and cracking down on pro-democracy protesters in Hong Kong.

Apparently, neither Mr. Fink’s idea of moral and socially responsible investing nor that of his so-called “progressive” critics takes into account these human-rights issues. The sixth circle of Dante’s hell punishes hypocrisy.

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Watchdog Asks Feds to Investigate University, Biden Center for Millions in Anonymous China Donations

From Just the News by Daniel Payne:

A watchdog group is asking the U.S. Education Department to investigate the University of Pennsylvania and its Biden Center, a diplomacy and global engagement initiative named after the Democratic presidential candidate, for accepting millions of dollars in anonymous funds from Chinese donors.

The complaint, filed by the National Legal and Policy Center, says that over the past three years, the university has accepted around $22 million in anonymous funding from Chinese sources. That’s out of a total of more than $70 million from Chinese donors during that time, the NLPC said. 

Those significant funds, including the anonymous amounts, rolled in after the Biden Center was announced in early 2017 and launched in February 2018. The center is located in downtown Washington, D.C. 

Click here to read the rest on Just the News.… Read More ➡

One America News: Paul Kamenar on Biden Center’s Undisclosed China Donations

One America News’ John Hines interviews Paul Kamenar, Counsel for the National Legal and Policy Center (NLPC), which filed a Complaint with the Department of Education alleging the University of Pennsylvania and the Biden Center failed to disclose millions of dollars of anonymous donations from China, as required by law.… Read More ➡

Government Watchdog Raises Questions About Chinese Influence at University of Pennsylvania’s Biden Center

From the Washington Free Beacon by Alana Goodman:

When Joe Biden announced he was opening a foreign policy center at the University of Pennsylvania, the goals for the project were ambitious.
At its founding in 2018, Biden described the Penn Biden Center for Diplomacy and Global Engagement as “a place where policymakers here and abroad will know they can be in touch with some of the best minds.”

The center is one of several organizations Biden founded since leaving the White House in 2017, including the domestic policy-focused Biden Institute at the University of Delaware and the Biden Cancer Initiative, all launched in 2017. All three entities have refused to reveal the sources of their funding, a potential landmine for the Democrats’ presumptive presidential nominee that raises questions about the influence of individual, corporate, and foreign donations on the presidential candidate.

The lack of transparency has drawn the attention of … Read More ➡

Complaint Filed Against University of Pennsylvania and Biden Center for Undisclosed China Mega-Donations

National Legal and Policy Center (NLPC), a nonprofit public interest organization, filed a complaint with the Department of Education requesting that it conduct a full investigation into the University of Pennsylvania’s failure to disclose the source of millions of dollars of donations from China since 2013 to the university and its Biden Center for Diplomacy and Global Engagement as required by law.

Since 2017 alone, when the Biden Center opened and after Joe Biden announced he was running for President in April 2018, the university received over $70 million from China, of which $22 million were listed as “Anonymous.”  Federal law requires the disclosure of the source of all donations over $250,000.  The complaint also requests referral to the Department of Justice to file an enforcement action seeking compliance and to recoup all the costs of the investigation.

The complaint notes that the Biden Center co-sponsored the 2020 Penn China Read More ➡

Pompeo is Right; Menendez is a Crook, but How Did He Get Off?

Secretary of State Mike Pompeo accused Senator Robert Menedez (D-NJ) of orchestrating the controversy over the firing of State Department Inspector General Steve Linick.

Abbe Lowell and his client

Pompeo said. “I don’t get my ethics guidance from a man who was criminally prosecuted — case number 15-155, New Jersey Federal District Court. A man for whom his Senate colleagues, bipartisan said basically that he was taking bribes. That’s not someone who I look to for ethics guidance.”

Pompeo is right. Menendez is a crook. He should have been forced out of the Senate and gone to jail with his co-defendant Salomon Melgen. But it was the Trump Justice Department that let Menendez off the hook.

As we have recounted previously, Menendez was tried on bribery and related charges, but that trial ended in a mistrial on November 16, 2017, and the Justice Department made a decision not to retry … Read More ➡

Investment in Chinese Companies Explodes as an Issue; BlackRock on the Spot

Donald Trump/PHOTO: Gage Skidmore via Creative Commons

President Trump said this morning in a Fox Business interview with Maria Bartiromo that he is “looking at” the question of Chinese companies listed on American exchanges. His comment came a day after National Legal and Policy Center asked the CEO of BlackRock, the world’s largest asset manager, to divest its customers’ holdings in 137 Chinese companies listed on American stock exchanges.

Earlier this week, agencies of the United States government took a similar step. The Federal Retirement Thrift Investment Board, which manages retirement savings for government employees and military, announced that it would freeze its plan to invest in Chinese stocks this year. The decision came at the urging of officials in the Trump administration and from members of Congress, who do not want to see the communist nation rewarded with American investments following its mishandling and cover-up of the release … Read More ➡

Larry Fink Asked to Divest BlackRock From Chinese Companies in Response to Coronavirus, Human Rights Abuses

In a letter to BlackRock Chairman and CEO Larry Fink, the National Legal and Policy Center (NLPC) today asked the firm to divest its customer’s money from the 137 Chinese companies currently listed on American stock exchanges.

BlackRock recently divested itself of certain companies that produce thermal coal in response to demands by anti-fossil fuel activists. In the letter, NLPC Chairman Peter Flaherty cites this “precedent” and argues that Chinese companies “that manufacture equipment for Xi’s surveillance state or that are dominated by the People’s Liberation Army raise even bigger ethical questions.” Here is the full text of the letter:

Because BlackRock is the world’s largest asset manager and you have championed the principle of divestment as a moral necessity, we ask that you divest your managed funds from the 137 Chinese companies listed on the three American exchanges.

All are under the influence and ultimate control of the Communist … Read More ➡

NLPC Files FOIA for Biden Documents at University of Delaware

Today NLPC filed a Freedom of Information Act (FOIA) Request with the University of Delaware seeking all documents related to the transfer, curating, and access to the Senatorial Papers of Joe Biden to the university library and to order a search of those documents by the Board of Trustees for any reference to Tara Reade, who has accused Mr. Biden of sexual assault in 1993 when she was employed by Biden.  Both the Washington Post and the New York Times have called for such a search of Biden’s papers.

The FOIA request also calls for the release of all visitor logs to the university’s library by Biden’s campaign or personal aides who have searched the files as has been reported.  NLPC also requests that John Cochran, the Chairman of the Board of Trustees, be recused from voting on the search and disposition of the requested documents as required by the … Read More ➡