“It has been a bad couple of months for BlackRock and its CEO, Larry Fink. Earlier this quarter, one analyst downgraded its stock due to the risk posed by Environmental, Social, and Governance (ESG) investing. Several states have announced they will remove pensions and other state treasury funds from the asset manager. Last week, the firm was subpoenaed by the Texas State Senate. Finally, on Friday, North Carolina Treasurer Dale Folwell called for BlackRock CEO Larry Fink to step down in a bombshell letter addressed to the investment company’s Board of Directors, which includes Fink.”
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