Senators Turn Up the Heat on BlackRock Over China Investments

Kevin Cramer/PHOTO: Gage Skidmore (CC)

Following an effort by National Legal and Policy Center to urge the world’s largest investment firm to divest its customers’ money from 137 companies based in communist China, two Senators have also turned up the pressure.

In a letter dated Monday, Republican Sens. Martha McSally and Kevin Cramer – of Arizona and North Dakota, respectively – asked BlackRock CEO Larry Fink to explain apparent inconsistencies in the company’s approach to managing its funds. Specifically, the senators wanted to know why BlackRock’s U.S. investments are held to a higher standard as it pertains to appeasing activist investors with a progressive agenda, as opposed to its holdings in foreign companies that do not comply with minimal legal and auditing standards.

Fink has led his firm into the decision-making of the U.S. companies where BlackRock has its investments, voting “on 18,758 shareholder proposals and participated in 2,269 shareholder … Read More ➡

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 ➡

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 ➡

Viruses and Transgenders: Twitter Reveals More of Its Double Standards

Diamond & Silk/IMAGE: YouTube

Twitter’s bias and inconsistencies in applying its rules and standards are getting ridiculous.

While Chinese government mouthpiece Zhao Lijian – who accused the U.S. military of being the source of the Wuhan virus outbreak – remains on the platform spouting propaganda, American users are being censored or shut down over alleged coronavirus “misinformation,” and for running afoul of the Left’s transgender agenda.

Lynnette Hardaway and Rochelle Richardson, who have become online celebrities with their entertaining pro-Trump duologues as “Diamond and Silk,” found their account blocked Wednesday after Twitter said they violated their rules, because they supposedly misled the public about public policy and how people should respond to the COVID-19 pandemic.

“The only way we can become immune to the environment; we must be out in the environment,” the rule-breaking tweet said. “Quarantining people inside of their houses for extended periods will make people sick!”

Seriously? … Read More ➡

Twitter Should Remove the ChiComs for Lying About Coronavirus

China is lying and propagandizing on social media (again!), and now because it is about the deeply troubling and threatening worldwide Wuhan virus pandemic, two members of Congress want the nation’s leaders banned from Twitter.

Should they be?

In a letter dated March 20th, Republican Sen. Ben Sasse of Nebraska and GOP Rep. Mike Gallagher of Wisconsin urged Twitter CEO Jack Dorsey to remove Chinese Communist Party officials from the platform because they are “using Twitter to disseminate propaganda in the midst of a dangerous global crisis.”

“While the coronavirus pandemic is afflicting families, governments, and markets around the world, the Chinese Communist Party is waging a massive propaganda campaign to rewrite the history of COVID-19 and whitewash the Party’s lies to the Chinese people and the world,” Gallagher and Sasse wrote.

The prime example that many have referred to is a March 12th tweet by Zhao Lijian, a spokesman … Read More ➡