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State AGs Sound the Alarm About BlackRock,
Vanguard Buying Large Stakes in Utilities

Original Article

Posted By: earlybird, 12/20/2022 2:30:04 PM

The acquisition by investment managers BlackRock and Vanguard of ever-increasing shares in America’s public utility companies is setting off alarm bells from conservatives and progressives alike. In April, the Federal Energy Regulatory Commission (FERC) approved a request from BlackRock to increase its ownership up to 20 percent of a public utility’s voting shares without being deemed an “affiliate” and incurring the regulatory scrutiny and disclosures that come with that. To gain FERC approval, BlackRock and Vanguard promised they would be “passive” investors and not use their share ownership to influence management.

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Reply 1 - Posted by: hershey 12/20/2022 2:58:53 PM (No. 1361073)
Promised??? Yep, I've also got some shares in a bridge to Brooklyn you might be interested in...
4 people like this.

Reply 2 - Posted by: Strike3 12/20/2022 3:02:14 PM (No. 1361077)
Passive? A shadow company here, a subsidiary of a division there and pretty soon you have huge voting rights.
5 people like this.

Reply 3 - Posted by: Dodge Boy 12/20/2022 3:09:50 PM (No. 1361083)
It's not just utilities that Blackrock is snapping up. It is also buying large residential real estate developments where Blackrock, as slave owner, rents houses back to downtrodden families. You pay the rent at their whim or you can go live under a bridge. You will own nothing and be happy while eating bugs.
11 people like this.

Reply 4 - Posted by: zephyrgirl 12/20/2022 4:10:14 PM (No. 1361120)
They'll be "passive," but they'll "suggest" that every utility to shut down their coal and natural gas plants and invest only in wind and solar.
1 person likes this.

Reply 5 - Posted by: Highvoltage 12/20/2022 4:26:45 PM (No. 1361128)
The reason the Biden administration want you to have electric cars is you will get y your Eli from the public utilities which the government will control through companies like BlackRock. You get it now don’t you?
2 people like this.

Reply 6 - Posted by: anniebc 12/20/2022 4:38:58 PM (No. 1361141)
I'm starting to see BlackRock all over the place lately, and I never heard of them before. They control 20 trillion dollars of folks money for investing, and their activities appear to be quite rogue.
2 people like this.

Reply 7 - Posted by: DVC 12/20/2022 10:30:33 PM (No. 1361355)
Blackrock and Vanguard are both EVIL.
1 person likes this.

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