NYC Pension Funds: BlackRock, Lander, and Green Energy Clash

NYC Comptroller Lander seeks to remove BlackRock over green energy disagreements. BlackRock clarifies its position, highlighting financial realities and past failures. Political implications and pension fund risks are discussed.

Lander’s Green Energy Pushback

Currently Lander wants to oust BlackRock from managing city retirement money since it declines to accept his strange environment-friendly energy program, which visualizes a future of windmills and bicycles along the roads of New york city rather than cars– and energy costs that no person can manage.

BlackRock’s Position Clarified

He obtained a bad rap from the political right for it, and BlackRock lost business– that is up until Fink cleared up the company’s placement: As Fink informed Lander years earlier, the New York City financial officer can’t dictate what BlackRock does for the Texas state pension plan.

Financial Realities of Green Stocks

Plus, those environment-friendly stocks usually really do truly suck (Google “Solyndra”) while companies that buy great old-fashioned crude like ExxonMobil– with a five-year spike in its shares of virtually 200% much overtaking the S&P– really do not.

Pension Fund Risks and Political Ambitions

It demonstrates how little thought Lander most likely put into this eye-catching charade as he supposedly gears up to compete a seat standing for reduced Manhattan and modern components of Brooklyn in Congress in the 2026 midterms.

Our regional prosecutors (Manhattan DA Alvin Bragg, et al) are too busy jailing residents safeguarding themselves from wrongdoers to make certain a surging leftist doesn’t defund pension funds that are currently underfunded– and bound to get even worse as the city goes full-on socialist under our brand-new mayor.