…she can use Big Banking™ as leverage against political opponents:
The Massachusetts Democrat sent letters Monday to investment funds with the biggest stakes in three publicly traded gun makers, urging them to pressure the manufacturers to self-regulate, The Finance 202 has learned.
“Now it’s time to put your money where your mouth is,” Warren wrote in one such note to BlackRock chief Larry Fink, who declared in his annual letter to CEOs last month that companies need to contribute a social good to keep the $6 trillion investment firm’s support.
For its part, BlackRock — the largest shareholder in both American Outdoor Brands Corporation, which owns AR-15 maker Smith & Wesson and Sturm Ruger, and is the second-largest shareholder in Vista Outdoor, another gun manufacturer — announced last week that it would be “engaging” with weapons makers to “understand their response to recent events.”
But Warren wants specifics. She’s asking firms to pressure gun companies to impose their own age restrictions and waiting periods on buyers and invest in developing safer guns. In addition to BlackRock, she sent missives to Vanguard, Fidelity, Invesco and five other firms with major positions in gun companies and asked for reports on their plans by March 9.
If Mussolini were still around he might sue Warren for copyright infringement.
What’s more concerning is that some on Wall Street aren’t telling Dances With Identity Fraud to pound heap big sand, but rather considering caving to her demands:
— Doug Powers (@ThePowersThatBe) February 27, 2018
I have an IRA invested through BlackRock and I’m less than thrilled they’re considering using my money to appease progressives when they should be focused on maximizing ROI.