GOP states sue ESG 'cartel': BlackRock, Vanguard, State Street accused of manipulating energy market



A coalition of 11 Republican-led states filed a lawsuit on Wednesday against BlackRock, Vanguard Group, and State Street Corporation, accusing the three asset managers of violating antitrust laws.

According to the complaint, the companies' promotion of environmental, social, and governance standards resulted in less coal production and higher energy prices.

Companies 'formed a cartel to rig the coal market.'

The lawsuit stated that the financial institutions "artificially constrained the supply of coal, significantly diminished competition in the markets for coal, increased energy prices for American consumers, and produced cartel-level profits" for themselves by leveraging their power.

Reuters reported that the three financial institutions have more than $26 trillion in assets under their management.

The companies have pressured coal companies to reduce their carbon emission by more than 50% by 2030, the complaint noted.

"Competitive markets — not the dictates of far-flung asset managers — should determine the price Americans pay for electricity," it read.

The coalition of states — including Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia, and Wyoming — was led by Texas Attorney General Ken Paxton (R).

Paxton accused the asset managers of "illegally conspiring to manipulate energy markets."

"These firms also deceived thousands of investors who elected to invest in non-ESG funds to maximize their profits. Yet these funds pursued ESG strategies notwithstanding the defendants' representations to the contrary," he claimed.

The lawsuit accused BlackRock of "actively deceiving investors about the nature of its funds" by using all of its holdings, even those in non-ESG funds, to advance its climate goals.

Paxton told Turning Point USA founder and CEO Charlie Kirk that the reduced coal production forces the U.S. to purchase more energy overseas.

"It's affecting consumers in all kinds of ways," he said.

Paxton wrote in a post on X, "Texas will not tolerate the illegal weaponization of the financial industry in service of a destructive, politicized 'environmental' agenda. BlackRock, Vanguard, and State Street formed a cartel to rig the coal market, artificially reduce the energy supply, and raise prices. Their conspiracy has harmed American energy production and hurt consumers. This is a stunning violation of State and federal law."

BlackRock said in a statement to Bloomberg that the lawsuit "undermines Texas' pro-business reputation."

"The suggestion that BlackRock invested money in companies with the goal of harming those companies is baseless and defies common sense," the company said.

Vanguard Group and State Street Corporation did not respond to a request for comment from Reuters or Bloomberg.

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Sen. Joni Ernst Highlights Nine Examples Of Washington Waste In ‘Caturday’ Campaign

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Democrat ‘Election Deniers’ In Pennsylvania And Iowa Refuse To Concede Races

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By Massive Margins, Voters In Eight States Say Only Citizens Can Vote In Their Elections

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‘Ann Selzer’s Wrong!’ Pollster Who Saw Harris Winning Red Iowa Misses Bigly

[rebelmouse-proxy-image https://thefederalist.com/wp-content/uploads/2024/11/Screenshot-2024-11-06-at-5.47.07 AM-1200x675.png crop_info="%7B%22image%22%3A%20%22https%3A//thefederalist.com/wp-content/uploads/2024/11/Screenshot-2024-11-06-at-5.47.07%5Cu202fAM-1200x675.png%22%7D" expand=1]No one who knows anything about Iowa politics or hasn’t been lobotomized saw Selzer’s numbers for what they were: garbage.

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Trump focuses on top issues, Harris makes 'SNL' appearance



Just two days from Election Day, former President Donald Trump and Vice President Kamala Harris are going into the homestretch with contrasting campaigns.

Trump traveled from the Rust Belt to campaign in North Carolina and Virginia on Saturday, largely focusing on top issues like the economy and immigration.

'Over the past 4 years, Kamala has orchestrated the most egregious betrayal that any leader in American history has ever inflicted on our people.'

"If Kamala wins, you are 3 days away from the start of a 1929-style economic depression," Trump said in a post on X. "If I win, you are 3 days away from the best jobs, the biggest paychecks, and the brightest economic future the world has ever seen. ... I will massively cut taxes for workers and small businesses — and we will have NO TAX ON TIPS, NO TAX ON OVERTIME, and NO TAX ON SOCIAL SECURITY benefits!"

"As we rescue our economy, I will also restore our borders," Trump said in another X post. "Over the past 4 years, Kamala has orchestrated the most egregious betrayal that any leader in American history has ever inflicted on our people. She has violated her oath, eradicated our sovereign border, and unleashed an army of gangs and criminal migrants from prisons and jails, insane asylums and mental institutions around the world, from Venezuela to the Congo — stealing countless American lives."

Harris also spent time in the Sun Belt, campaigning in Georgia and North Carolina. Harris has refocused on policy issues like immigration, noting that she has served as attorney general of a border state.

"I was attorney general of a border state," Harris said in a post on X. "Strengthening our border is not new to me."

Under Harris' purview as "Border czar," there have been over 8.7 million migrant encounters across the southern border alone, according to data from U.S. Customs and Border Protection.

Harris also reminded voters of her goal to "restore reproductive freedom" and implement a $6,000 child tax credit, as well as her "economic plan" that "taps into the aspirations of the American people."

Harris also made a surprise appearance on "Saturday Night Live" alongside Maya Rudolph. Many pointed out that the skit looked like a recreation of Trump's 2015 appearance with Jimmy Fallon, both of which showed the presidential hopefuls speaking to their reflection, played by one of their co-hosts.

"It is nice to see you, Kamala," Harris said to Rudolph. "And I'm just here to remind you, you got this, because you can do something your opponent cannot do. You can open doors."

While her appearance sparked a huge amount of online discourse, FCC Commissioner Brendan Carr criticized Harris' appearance as a violation of the FCC's "Equal Time rule."

"The purpose of the rule is to avoid exactly the type of biased and partisan conduct — a licensed broadcaster using the public airwaves to exert its influence for one candidate on the eve of an election," Carr said in a post on X. "Unless the broadcaster offered Equal Time to other qualifying campaigns."

The campaign season took another unexpected turn last night when Ann Selzer released a poll alongside the Des Moines Register showing Harris three points ahead of Trump in Iowa. This is a huge turnaround for Harris compared to the four-point deficit she was facing in the state, according to a previous poll from Selzer.

Iowa is not considered a swing state but has had a split voting record. Trump won the state in both 2020 and in 2016, but former President Barack Obama won the state in 2012 and 2008.

At the same time, many criticized this poll as a fluke, calling it a last-ditch attempt to "demoralize Trump voters." Notably, major projections have all included Iowa as a red-leaning state.

"No President has done more for FARMERS, and the Great State of Iowa, than Donald J. Trump," the former president said in a Truth Social post on Sunday. "In fact, it’s not even close! All polls, except for one heavily skewed toward the Democrats by a Trump hater who called it totally wrong the last time, have me up, BY A LOT."

Trump is set to campaign in Pennsylvania, North Carolina, and Georgia today. Harris will make multiple campaign stops in Michigan.

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California Election Officials Registered ‘Self-Confessed’ Noncitizens To Vote: Report

A county registrar is the first line of defense in keeping a noncitizen off the voter roll. But registrars in Alameda County, California, have approved dozens of voter registrations from “self-confessed foreign nationals” — some of which tried to vote — according to records obtained by the Public Interest Legal Foundation (PILF). Alameda County disclosed […]

'You need to die': Male strangles mom with American flag, beats up her boyfriend, leads police on drunken car chase, cops say



An Iowa man used an American flag to strangle his own mother, then beat up her boyfriend, fled the scene, and led police on a car chase, according to a criminal complaint.

According to Johnson County Jail records, Adam Sotzen of Cedar Rapids was booked at 3:35 a.m. Monday and charged with assault with intent to cause pain or injury, first-degree harassment, operating while intoxicated, and eluding while exceeding the speed limit by 25 mph or more. Sotzen is being held on a $30,000 bond.

'You need to die.'

According to the criminal complaint, Sotzen went to his victim’s home in North Liberty early Monday morning upset over a prior dispute. The 39-year-old allegedly got into a verbal altercation and then began destroying property.

The Daily Iowan reported that Sotzen shoved his mother to the ground. He allegedly stole an American flag from a nearby home, twisted it into a rope, and then strangled her.

According to KCRG-TV, Sotzen told her multiple times, “You need to die.”

The criminal complaint said his mother fell from her chair, but Sotzen continued to choke her as she lay face down. His mother allegedly told police she feared for her life because she believed Sotzen was capable of killing her.

The mother’s boyfriend reportedly intervened and pulled Sotzen off the woman. Sotzen then allegedly attacked his mother's boyfriend, punching him in the face and the ribcage.

Following the reported strangulation and assault, Sotzen fled the scene in his vehicle before police could respond.

A police officer identified Sotzen's vehicle by the license plate after reports of the assault circulated. The officer turned on the cruiser's emergency lights and attempted to pull over the suspect, but Sotzen allegedly ignored the cop and led police on a drunken police car chase.

Cops said Sotzen sped 55 mph in a 30 mph zone during the chase.

Sotzen finally pulled over, exited his vehicle, and dropped to his knees in the middle of the road, according to the complaint.

Police described Sotzen as being uncooperative and combative with law enforcement. Authorities also noted that Sotzen appeared unbalanced and smelled strongly of alcohol. The complaint said Sotzen continued to be physically aggressive while being transported to jail and reportedly struck the partition inside the police cruiser.

According to state prison records, Sotzen was incarcerated in 2013 for committing a “serious misdemeanor.”

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Iowa Identified 87 Self-Reported Noncitizens Who Have Already Cast Ballots In Elections

Iowa’s elections chief revealed on Tuesday that his office has identified 87 individuals who self-reported they are noncitizens after already casting ballots in elections. “It is absolutely critical that eligible citizens are able to vote and we are not disenfranchising any eligible voters,” Secretary of State Paul Pate said in a statement. According to an […]