'We are pursuing technology and regulatory solutions to expand voting choice for even more clients. 'While that is an industry first, we see it as just a start,' he said.

'Today, nearly half of our index equity assets under management - including pension funds serving more than 60 million people - can choose how their proxy votes are cast,' he said. 'We lead the industry in providing proxy voting choice.' 'And we believe clients should also have the option to choose for themselves how their proxy votes are cast,' the spokesman said. 'That is not capitalism, that is abusing the market,' the senator said.Ī BlackRock spokesman, when asked about Cruz's comments, said in an email, 'The only agenda driving BlackRock's proxy voting is the long-term economic interests of the millions of people whose money we manage.' He said money managers who vote on shareholder matters based on their political interests instead of investors need more scrutiny. He's voting instead on his politics.'Ĭruz said Fink had 'decided that he's more welcomed at the 'New York Country Club' when he walks in and has stood against oil and gas even if it reduces the returns of the accounts he's managing, and even if it's destroying jobs, helping America's enemies and hurting America.' 'What Larry Fink is doing is taking your shares and my shares and millions of little old ladies who've invested in funds, and he's aggregating that vast amount of capital and he's decided to vote not to maximize their returns, because apparently his fiduciary duty to customers is not a top priority. 'Larry Fink is not using his own money to vote as a shareholder,' Cruz said. 'And I think there is a real problem with people who are investing, who are voting shares of passively invested funds,' Cruz said, referring to funds that invest in companies belonging to various stock indexes.

He later said, 'What Larry Fink is doing has been unprecedented, in the rise of ESG.' 'There's a Larry Fink surcharge, every time you fill up your tank, you can thank Larry for the massive and inappropriate ESG pressure,' Cruz said. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit

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