State Attorneys General Sound the Alarm About BlackRock, Vanguard Buying Large Stakes in America’s Utilities

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State Attorneys General Sound the Alarm About BlackRock, Vanguard Buying Large Stakes in America’s Utilities

The acquisition by investment managers BlackRock and Vanguard of ever-increasing shares in America’s public utility companies is setting off alarm bells from conservatives and progressives alike. In April, the Federal Energy Regulatory Commission (FERC) approved a request from BlackRock to increase its ownership up to 20 percent of a public utility’s voting shares without being deemed an “affiliate” and incurring the regulatory scrutiny and disc…