https://www.realclearpolitics.com/articl...43185.html

"...There has to be someone on the buy side to pay for all this Wall Street-minted SOE paper. Nearly 40% of the BlackRock-managed iShares Emerging Markets ETF is represented by this Chinese paper. How much of it is pure dross is hard to say, as U.S. regulators in the form of the Public Company Accounting Oversight Board, established by the Sarbanes-Oxley Act, are prevented from overseeing audits of these companies. That has rung alarm bells with the SEC, which has oversight responsibility for the board. On May 4, SEC Chairman Jay Clayton warned about the consequences of the inability of U.S. regulators to inspect for compliance and enforce U.S. securities rules and regulations. Such investing entails “significant disclosure, financial reporting and other risks,” Clayton said — risks that Main Street investors should better understand....

And while marketing Chinese investments that lack the basic auditing safeguards of U.S. companies, BlackRock is threatening to vote against boards that do not apply burdensome environmental reporting standards that have no statutory or regulatory standing — this, amid the deepest economic crisis since the Great Depression. BlackRock’s hypocrisy speaks for itself: punishing American companies that decline to apply entirely voluntary standards while being mute about Chinese companies’ lack of audit oversight and enforcement. There could hardly be a more blatant case of double standards...."

(05-13-2020 10:23 AM)bullet Wrote:  https://www.realclearpolitics.com/articl...43185.html

"...There has to be someone on the buy side to pay for all this Wall Street-minted SOE paper. Nearly 40% of the BlackRock-managed iShares Emerging Markets ETF is represented by this Chinese paper. How much of it is pure dross is hard to say, as U.S. regulators in the form of the Public Company Accounting Oversight Board, established by the Sarbanes-Oxley Act, are prevented from overseeing audits of these companies. That has rung alarm bells with the SEC, which has oversight responsibility for the board. On May 4, SEC Chairman Jay Clayton warned about the consequences of the inability of U.S. regulators to inspect for compliance and enforce U.S. securities rules and regulations. Such investing entails “significant disclosure, financial reporting and other risks,” Clayton said — risks that Main Street investors should better understand....

And while marketing Chinese investments that lack the basic auditing safeguards of U.S. companies, BlackRock is threatening to vote against boards that do not apply burdensome environmental reporting standards that have no statutory or regulatory standing — this, amid the deepest economic crisis since the Great Depression. BlackRock’s hypocrisy speaks for itself: punishing American companies that decline to apply entirely voluntary standards while being mute about Chinese companies’ lack of audit oversight and enforcement. There could hardly be a more blatant case of double standards...."

With the exception of the hallowed halls of the United States Capital......

(05-13-2020 12:19 PM)Eldonabe Wrote:  With the exception of the hallowed halls of the United States Capital......

(05-13-2020 12:19 PM)Eldonabe Wrote:  

(05-13-2020 10:23 AM)bullet Wrote:  https://www.realclearpolitics.com/articl...43185.html

"...There has to be someone on the buy side to pay for all this Wall Street-minted SOE paper. Nearly 40% of the BlackRock-managed iShares Emerging Markets ETF is represented by this Chinese paper. How much of it is pure dross is hard to say, as U.S. regulators in the form of the Public Company Accounting Oversight Board, established by the Sarbanes-Oxley Act, are prevented from overseeing audits of these companies. That has rung alarm bells with the SEC, which has oversight responsibility for the board. On May 4, SEC Chairman Jay Clayton warned about the consequences of the inability of U.S. regulators to inspect for compliance and enforce U.S. securities rules and regulations. Such investing entails “significant disclosure, financial reporting and other risks,” Clayton said — risks that Main Street investors should better understand....

And while marketing Chinese investments that lack the basic auditing safeguards of U.S. companies, BlackRock is threatening to vote against boards that do not apply burdensome environmental reporting standards that have no statutory or regulatory standing — this, amid the deepest economic crisis since the Great Depression. BlackRock’s hypocrisy speaks for itself: punishing American companies that decline to apply entirely voluntary standards while being mute about Chinese companies’ lack of audit oversight and enforcement. There could hardly be a more blatant case of double standards...."

With the exception of the hallowed halls of the United States Capital......

After I posted I realized I was setting someone up for a layup.

(05-13-2020 02:46 PM)bullet Wrote:  

(05-13-2020 12:19 PM)Eldonabe Wrote:  

(05-13-2020 10:23 AM)bullet Wrote:  https://www.realclearpolitics.com/articl...43185.html

"...There has to be someone on the buy side to pay for all this Wall Street-minted SOE paper. Nearly 40% of the BlackRock-managed iShares Emerging Markets ETF is represented by this Chinese paper. How much of it is pure dross is hard to say, as U.S. regulators in the form of the Public Company Accounting Oversight Board, established by the Sarbanes-Oxley Act, are prevented from overseeing audits of these companies. That has rung alarm bells with the SEC, which has oversight responsibility for the board. On May 4, SEC Chairman Jay Clayton warned about the consequences of the inability of U.S. regulators to inspect for compliance and enforce U.S. securities rules and regulations. Such investing entails “significant disclosure, financial reporting and other risks,” Clayton said — risks that Main Street investors should better understand....

And while marketing Chinese investments that lack the basic auditing safeguards of U.S. companies, BlackRock is threatening to vote against boards that do not apply burdensome environmental reporting standards that have no statutory or regulatory standing — this, amid the deepest economic crisis since the Great Depression. BlackRock’s hypocrisy speaks for itself: punishing American companies that decline to apply entirely voluntary standards while being mute about Chinese companies’ lack of audit oversight and enforcement. There could hardly be a more blatant case of double standards...."

With the exception of the hallowed halls of the United States Capital......

After I posted I realized I was setting someone up for a layup.

Thanks man - I was always better at layups than 3-pointers! A much higher shooting percentage!