Blackrock violating "sole interest" rule

[SassyLady]

Using ESGs to try and rule the world.

https://news.ballotpedia.org/2022/09/13/economy-and-society-september-13-2022-former-attorney-general-highlights-recent-state-action-against-esg/


“Nineteen state attorneys general wrote a letter last month to BlackRock CEO Laurence D. Fink. They warned that BlackRock’s environmental, social and governance investment policies appear to involve “rampant violations” of the sole interest rule, a well-established legal principle. The sole interest rule requires investment fiduciaries to act to maximize financial returns, not to promote social or political objectives. Last week Attorneys General Jeff Landry and Todd Rokita of Louisiana and Indiana, respectively, went further. Each issued a letter warning his state pension board that ESG investing is likely a violation of fiduciary duty.

The Louisiana and Indiana opinions didn’t make headlines but have seismic implications: They suggest that state pension-fund board members, investment staff and investment advisers may be liable if they continue allocating funds to ESG-promoting asset managers such as BlackRock….

Mr. Landry’s guidance spotlights potentially explosive, undisclosed conflicts of interest in the Big Three’s “selective” promotion of ESG criteria against U.S. companies but not Chinese companies. According to Mr. Landry, in 2021 BlackRock exercised its proxy voting rights as Exxon’s second-largest shareholder to lead “an activist campaign that forced Exxon to cut oil production,” without disclosing that many of the “oil fields dropped by Exxon” are “poised to be acquired by PetroChina” and that BlackRock is “one of PetroChina’s largest investors.”

Mr. Landry has a point.
BlackRock has an enormous stake in PetroChina, reporting holdings of between one trillion and two trillion shares, representing between 5% and 10% ownership, from 2018-22. If Mr. Landry’s allegations are correct, BlackRock’s ESG-based promotion of oil production cutbacks at Exxon might have been a staggering conflict of interest.

[Gunny]

Using ESGs to try and rule the world.

https://news.ballotpedia.org/2022/09/13/economy-and-society-september-13-2022-former-attorney-general-highlights-recent-state-action-against-esg/I saw something on this a couple of months ago. Don't recall whether or not I posted it. Blackrock is deep enough into the bureaucracy that it doesn't have to follow any rules. There's no telling how many Dem pockets (probably some Republican ones as well) it is in.

[SassyLady]

I saw something on this a couple of months ago. Don't recall whether or not I posted it. Blackrock is deep enough into the bureaucracy that it doesn't have to follow any rules. There's no telling how many Dem pockets (probably some Republican ones as well) it is in.

Oh, they're not worried about American politicians or laws. They're going for the big bucks ... global influence.

[revelarts]

Here's exerts from another article, not sure if you posted this overview of before.


BLACKROCK UNREGULATED INVESTMENT FIRM NOW RULES THE WEST
https://www.theburningplatform.com/2022/09/10/blackrock-unregulated-investment-firm-now-rules-the-west/

The firm, BlackRock Inc., the world’s largest asset manager, invests a staggering $9 trillion in client funds worldwide, a sum more than double the annual GDP of the Federal Republic of Germany.

This colossus sits atop the pyramid of world corporate ownership, including in China most recently, writes F. William Engdahl, a strategic risk consultant and lecturer, best-selling author on oil and geopolitics, exclusively for the online magazine “New Eastern Outlook”.
Since 1988 the company has put itself in a position to de facto control the Federal Reserve, most Wall Street mega-banks, including Goldman Sachs, the Davos World Economic Forum Great Reset, the Biden Administration and, if left unchecked, the economic future of our world.

BlackRock is the epitome of what Mussolini called Corporatism, where an unelected corporate elite dictates top down to the population.

BlackRock Unregulated Investment Firm: The Herland Report Scandinavian news site, TV channel on YouTube and Podcast has millions of viewers. The level of censorship in social media and search engines is all-time high. Do like thousands of others, subscribe to The Herland Report newsletter here! Thanks so much for reading and supporting our investigative work. Follow the new trends and subscribe!
BlackRock Unregulated Investment Firm: How the world’s largest “shadow bank” exercises this enormous power over the world ought to concern us. BlackRock since Larry Fink founded it in 1988 has managed to assemble unique financial software and assets that no other entity has.
BlackRock’s Aladdin risk-management system, a software tool that can track and analyze trading, monitors more than $18 trillion in assets for 200 financial firms including the Federal Reserve and European central banks.
He who “monitors” also knows, we can imagine. BlackRock has been called a financial “Swiss Army Knife — institutional investor, money manager, private equity firm, and global government partner rolled into one.” Yet mainstream media treats the company as just another Wall Street financial firm.
There is a seamless interface that ties the UN Agenda 2030 with the Davos World Economic Forum Great Reset and the nascent economic policies of the Biden Administration. That interface is BlackRock.

TEAM BIDEN AND BLACKROCK
......(at article)

WHAT IS BLACKROCK?
Never before has a financial company with so much influence over world markets been so hidden from public scrutiny. That’s no accident. As it is technically not a bank making bank loans or taking deposits, it evades the regulation oversight from the Federal Reserve even though it does what most mega banks like HSBC or JP MorganChase do—buy, sell securities for profit.
When there was a Congressional push to include asset managers such as BlackRock and Vanguard Funds under the post-2008 Dodd-Frank law as “systemically important financial institutions” or SIFIs, a huge lobbying push from BlackRock ended the threat. BlackRock is essentially a law onto itself. And indeed it is “systemically important” as no other, with possible exception of Vanguard, which is said to also be a major shareholder in BlackRock.

BlackRock founder and CEO Larry Fink is clearly interested in buying influence globally.
He made former German CDU MP Friederich Merz head of BlackRock Germany when it looked as if he might succeed Chancellor Merkel, and former British Chancellor of Exchequer George Osborne as “political consultant.” Fink named former Hillary Clinton Chief of Staff Cheryl Mills to the BlackRock board when it seemed certain Hillary would soon be in the White House.
He has named former central bankers to his board and gone on to secure lucrative contracts with their former institutions. Stanley Fisher, former head of the Bank of Israel and also later Vice Chairman of the Federal Reserve is now Senior Adviser at BlackRock. Philipp Hildebrand, former Swiss National Bank president, is vice chairman at BlackRock, where he oversees the BlackRock Investment Institute. Jean Boivin, the former deputy governor of the Bank of Canada, is the global head of research at BlackRock’s investment institute.

BLACKROCK AND THE FED
It was this ex-central bank team at BlackRock that developed an “emergency” bailout plan for Fed chairman Powell in March 2019 as financial markets appeared on the brink of another 2008 “Lehman crisis” meltdown.
As “thank you,” the Fed chairman Jerome Powell named BlackRock in a no-bid role to manage all of the Fed’s corporate bond purchase programs, including bonds where BlackRock itself invests. Conflict of interest?
A group of some 30 NGOs wrote to Fed Chairman Powell, “By giving BlackRock full control of this debt buyout program, the Fed… makes BlackRock even more systemically important to the financial system. Yet BlackRock is not subject to the regulatory scrutiny of even smaller systemically important financial institutions.”...

A VERY BLACKROCK IN MEXICO
......more...
FINK AND MEXICAN PPP
......more...

LARRY FINK AND WEF GREAT RESET
In 2019 Larry Fink joined the Board of the Davos World Economic Forum, the Swiss-based organization that for some 40 years has advanced economic globalization.
Fink, who is close to the WEF’s technocrat head, Klaus Schwab, of Great Reset notoriety, now stands positioned to use the huge weight of BlackRock to create what is potentially, if it doesn’t collapse before, the world’s largest Ponzi scam, ESG corporate investing. Fink with $9 trillion to leverage is pushing the greatest shift of capital in history into a scam known as ESG Investing. The UN “sustainable economy” agenda is being realized quietly by the very same global banks which have created the financial crises in 2008.

[Gunny]

Here's exerts from another article, not sure if you posted this overview of before.


BLACKROCK UNREGULATED INVESTMENT FIRM NOW RULES THE WEST
https://www.theburningplatform.com/2022/09/10/blackrock-unregulated-investment-firm-now-rules-the-west/
The firm, BlackRock Inc., the world’s largest asset manager, invests a staggering $9 trillion in client funds worldwide, a sum more than double the annual GDP of the Federal Republic of Germany.

This colossus sits atop the pyramid of world corporate ownership, including in China most recently, writes F. William Engdahl, a strategic risk consultant and lecturer, best-selling author on oil and geopolitics, exclusively for the online magazine “New Eastern Outlook”.
Since 1988 the company has put itself in a position to de facto control the Federal Reserve, most Wall Street mega-banks, including Goldman Sachs, the Davos World Economic Forum Great Reset, the Biden Administration and, if left unchecked, the economic future of our world.

BlackRock is the epitome of what Mussolini called Corporatism, where an unelected corporate elite dictates top down to the population.

BlackRock Unregulated Investment Firm: The Herland Report Scandinavian news site, TV channel on YouTube and Podcast has millions of viewers. The level of censorship in social media and search engines is all-time high. Do like thousands of others, subscribe to The Herland Report newsletter here! Thanks so much for reading and supporting our investigative work. Follow the new trends and subscribe!
BlackRock Unregulated Investment Firm: How the world’s largest “shadow bank” exercises this enormous power over the world ought to concern us. BlackRock since Larry Fink founded it in 1988 has managed to assemble unique financial software and assets that no other entity has.
BlackRock’s Aladdin risk-management system, a software tool that can track and analyze trading, monitors more than $18 trillion in assets for 200 financial firms including the Federal Reserve and European central banks.
He who “monitors” also knows, we can imagine. BlackRock has been called a financial “Swiss Army Knife — institutional investor, money manager, private equity firm, and global government partner rolled into one.” Yet mainstream media treats the company as just another Wall Street financial firm.
There is a seamless interface that ties the UN Agenda 2030 with the Davos World Economic Forum Great Reset and the nascent economic policies of the Biden Administration. That interface is BlackRock.

TEAM BIDEN AND BLACKROCK
......(at article)

WHAT IS BLACKROCK?
Never before has a financial company with so much influence over world markets been so hidden from public scrutiny. That’s no accident. As it is technically not a bank making bank loans or taking deposits, it evades the regulation oversight from the Federal Reserve even though it does what most mega banks like HSBC or JP MorganChase do—buy, sell securities for profit.
When there was a Congressional push to include asset managers such as BlackRock and Vanguard Funds under the post-2008 Dodd-Frank law as “systemically important financial institutions” or SIFIs, a huge lobbying push from BlackRock ended the threat. BlackRock is essentially a law onto itself. And indeed it is “systemically important” as no other, with possible exception of Vanguard, which is said to also be a major shareholder in BlackRock.

BlackRock founder and CEO Larry Fink is clearly interested in buying influence globally.
He made former German CDU MP Friederich Merz head of BlackRock Germany when it looked as if he might succeed Chancellor Merkel, and former British Chancellor of Exchequer George Osborne as “political consultant.” Fink named former Hillary Clinton Chief of Staff Cheryl Mills to the BlackRock board when it seemed certain Hillary would soon be in the White House.
He has named former central bankers to his board and gone on to secure lucrative contracts with their former institutions. Stanley Fisher, former head of the Bank of Israel and also later Vice Chairman of the Federal Reserve is now Senior Adviser at BlackRock. Philipp Hildebrand, former Swiss National Bank president, is vice chairman at BlackRock, where he oversees the BlackRock Investment Institute. Jean Boivin, the former deputy governor of the Bank of Canada, is the global head of research at BlackRock’s investment institute.

BLACKROCK AND THE FED
It was this ex-central bank team at BlackRock that developed an “emergency” bailout plan for Fed chairman Powell in March 2019 as financial markets appeared on the brink of another 2008 “Lehman crisis” meltdown.
As “thank you,” the Fed chairman Jerome Powell named BlackRock in a no-bid role to manage all of the Fed’s corporate bond purchase programs, including bonds where BlackRock itself invests. Conflict of interest?
A group of some 30 NGOs wrote to Fed Chairman Powell, “By giving BlackRock full control of this debt buyout program, the Fed… makes BlackRock even more systemically important to the financial system. Yet BlackRock is not subject to the regulatory scrutiny of even smaller systemically important financial institutions.”...

A VERY BLACKROCK IN MEXICO
......more...
FINK AND MEXICAN PPP
......more...

LARRY FINK AND WEF GREAT RESET
In 2019 Larry Fink joined the Board of the Davos World Economic Forum, the Swiss-based organization that for some 40 years has advanced economic globalization.
Fink, who is close to the WEF’s technocrat head, Klaus Schwab, of Great Reset notoriety, now stands positioned to use the huge weight of BlackRock to create what is potentially, if it doesn’t collapse before, the world’s largest Ponzi scam, ESG corporate investing. Fink with $9 trillion to leverage is pushing the greatest shift of capital in history into a scam known as ESG Investing. The UN “sustainable economy” agenda is being realized quietly by the very same global banks which have created the financial crises in 2008.



Must be nice. "My job is to hold your money for you, invest it how I see fit (which you are not allowed to question/object to), and tell you what you can do with what allowance I give you". Sounds like my Dad:rolleyes:

When you act like children, someone is going to come in and treat you like children. Most AMericans don't even really know what's going on outside their own damned doors.

[fj1200]

Here's exerts from another article, not sure if you posted this overview of before.


Mere rehash.

http://www.debatepolicy.com/showthread.php?76593-Blackrock-and-Vanguard

http://www.debatepolicy.com/showthread.php?73828-Who-runs-the-world-Blackrock-and-Vanguard

[SassyLady]

Mere rehash.

http://www.debatepolicy.com/showthread.php?76593-Blackrock-and-Vanguard

http://www.debatepolicy.com/showthread.php?73828-Who-runs-the-world-Blackrock-and-Vanguard
And ... your point? It's called a "bump" to get topic back to the top for those that missed it first time.

[fj1200]

And ... your point? It's called a "bump" to get topic back to the top for those that missed it first time.

I was just pointing to the rebuttal. Save us all some time. :)

[Russ]

I worked at BlackRock until I took another job a few months ago, and I can say that the company made a big point to all employees that there were "Four Pillars" of emphasis for everyone to follow, one of which was "We are Fiduciary to our Clients". Recently I heard that BlackRock is facing lawsuits from state pension plans because they are investing the plans money based "ESG" (Environmental, Social and Governance) guidelines. Essentially, BlackRock is investing money in green stocks for political reasons instead of in say, energy stocks which have been performing very well.

The ESG investing is the exact opposite of "We are Fiduciary to our Clients". Very hypocritical, to the point of being indefensible by BlackRock management. So if they can lie about one thing, they can lie about a thousand.

Very disappointing to hear about my former employer. Aside from the politics, I can say that they were good in the other areas.

[SassyLady]

And ... your point? It's called a "bump" to get topic back to the top for those that missed it first time.
If you've already rebutted it and aren't interested in new info no need for you to look in here is there?

As I said ... people might have missed the info from before. Oh, and just because you put in your 2 cents doesn't mean anyone agrees with you and that the topic and discussion is a done deal.

I know you think you're the Debate Policy fact checker but your facts are about as reliable as MSM. You think everything is a conspiracy theory because it hasn't been shared by MSM and your standard government agencies.

Too many "conspiracy theories" have been proven to be valid lately to trust mainstream sources with info only approved for dissemination by the government.

[fj1200]

I worked at BlackRock until I took another job a few months ago, and I can say that the company made a big point to all employees that there were "Four Pillars" of emphasis for everyone to follow, one of which was "We are Fiduciary to our Clients". Recently I heard that BlackRock is facing lawsuits from state pension plans because they are investing the plans money based "ESG" (Environmental, Social and Governance) guidelines. Essentially, BlackRock is investing money in green stocks for political reasons instead of in say, energy stocks which have been performing very well.

The ESG investing is the exact opposite of "We are Fiduciary to our Clients". Very hypocritical, to the point of being indefensible by BlackRock management. So if they can lie about one thing, they can lie about a thousand.

Very disappointing to hear about my former employer. Aside from the politics, I can say that they were good in the other areas.

I think one question is what are their investment guidelines in particular funds and are they following those guidelines or not. If they say that they will invest based on ESG and they don't, and vice versa; that is where they would run afoul. Institutional money managers are very particular about their subadvisors and are they following the investment guidelines or not? You don't want your bond advisor to start buying stocks or your value stock advisor buying growth stocks, for example, because it throws off their allocation models. It is not illegal, or counter to their role as a fiduciary necessarily, to invest based on ESG; there have been socially responsible funds out there for decades and they haven't been sued recently. I would that think the AGs are suing because Blackrock might not be investing according to their contracts with the state pension plans.

Another question IMO would be whether they are giving up investment returns because of those ESG guidelines. If they are then I expect other money managers will earn superior returns and BR would lose market share. Could be risk that they're taking.

[fj1200]

If you've already rebutted it and aren't interested in new info no need for you to look in here is there?

As I said ... people might have missed the info from before. Oh, and just because you put in your 2 cents doesn't mean anyone agrees with you and that the topic and discussion is a done deal.

I know you think you're the Debate Policy fact checker but your facts are about as reliable as MSM. You think everything is a conspiracy theory because it hasn't been shared by MSM and your standard government agencies.

Too many "conspiracy theories" have been proven to be valid lately to trust mainstream sources with info only approved for dissemination by the government.

There wasn't anything new. In fact the weird british gal posted if not the very same link then at the very least one of the very same paragraphs that Rev posted. I don't recall her credibility being particularly stellar.

The bolded paragraph is ridiculous. Some of your links are polluting your mind.

[Gunny]

Mere rehash.

http://www.debatepolicy.com/showthread.php?76593-Blackrock-and-Vanguard

http://www.debatepolicy.com/showthread.php?73828-Who-runs-the-world-Blackrock-and-VanguardI know you're all about unrestricted free trade and let nothing stand in its way and all that, but rehashed or not, if you don't think Blackrock has a little too much power within our government, and everyone else's for that matter, you're not up to date.

Not saying it's part of some big conspiracy. No bogger a conspiracy than it takes to make Blackrock money and give it more clout. There should be a check on that. Like there is on anything that benefits the country.

[fj1200]

I know you're all about unrestricted free trade and let nothing stand in its way and all that, but rehashed or not, if you don't think Blackrock has a little too much power within our government, and everyone else's for that matter, you're not up to date.

Not saying it's part of some big conspiracy. No bogger a conspiracy than it takes to make Blackrock money and give it more clout. There should be a check on that. Like there is on anything that benefits the country.

Arguable points. Just not argued very compellingly IMO. BR is a big company that does many things, has done it well, and are now the current bogeyman.

[SassyLady]

Seems people have seen Blackrock as a bogeyman for quite sometime.


BUSINESS
BlackRock: The secret world power
By Miriam Braun / pad | 17.08.2015

The US financial crisis may officially be over, but one specter still spooks regulators: shadow banking. In their struggle to exorcise industry demons, one name looms large, BlackRock. Miriam Braun reports from New York.

One name has been haunting Wall Street for years. Still, it remains a mystery to most. Even Heike Buchter admits it only began appearing on her radar recently. "Bankers started talking about [it]. They were analyzing central bank portfolios, and the name Larry Fink kept popping up," the German correspondent, who's been covering Wall Street for more than a decade, told DW.

It stuck with Buchter, who set out to find out all she could about Fink and his financial colossus BlackRock - "one of the world's preeminent asset management firms," as the New York-based corporation boasts on its website.

"Prior to the financial crisis I was not even familiar with the name. But in the years after the Lehman collapse [in 2008], BlackRock appeared everywhere. Everywhere!," Buchter said. On Monday, her 280-page exposé - the first-ever of its kind - appears in German.

[B]Lack of transparency

The author recalls a lunch with an insider. He asked her, only half-jokingly, to speak quietly. He was concerned someone from BlackRock might be hiding in the kitchen, spitting in his soup. Accordingly, she titled the first chapter in her book: "The most powerful company no one's heard about."

BlackRock manages $4.7 trillion (4.2 trillion euros) worth of assets. All told, their platforms juggle $14 trillion - the equivalent of 5 percent of all financials assets worldwide. But BlackRock's reach goes further than just buying and holding stocks and bonds.

"BlackRock advises central banks, financial ministries, big investors like state funds, pension funds, insurance companies and foundations," said Buchter. Tapping into these bonds and stocks, they invest in firms around the world. "There is pretty much nothing in the financial market that Blackrock is not somehow involved in."

The web that spans the globe

From their unassuming headquarters in Midtown Manhattan, Larry Fink and his managers pull strings all over the world. In addition to holding huge stakes in big US banks, they control significant shares of defense contractors as well as oil- and gas corporations. All funds combined, BlackRock is also the biggest stockholder on the German DAX blue chip market index.

This is not dangerous per se, said Buchter. But, she added, BlackRock's size of shares does have the potential to tip the scales of power. "These days, owning four, five or six percent of a company's shares means you're a big-wig. You can call anytime and the boss will talk to you. And it's become totally OK to expect that," the journalist said.

Conflicts of interest

Whether it's producing cars in Germany, mining for iron ore in South America, developing new drugs in the US or gold-mining in Africa - BlackRock's funds profit. But being involved in so many different industries, and in so many different capacities, poses potential conflicts of interests, warns Buchter.

Imagine, for instance, that a company wants to issue bonds, but BlackRock is not only a potential buyer, it's also already a shareholder. "Who would want to get in trouble with someone, who is not only your biggest stockholders but also potentially your biggest creditor?," pondered Buchert.

From outcast to investment emperor

BlackRock was born in the late 1980s, as a subsidiary of The Blackstone Group, a multinational private equity firm. Larry Fink was made director and CEO, despite having just all but ruined his reputation on Wall Street after costing his previous employer, investment firm First Boston, $100 million making incorrect predictions about interest rates.

In her new book, Buchter writes the following about Fink: "The most powerful man of the modern financial world appears to double as his own accountant." According to her, Larry Fink accomplished something almost unique: "He created his own Wall Street empire in less than three decades," the Wall Street correspondent told DW. "To do that, you need to have a pretty strong ego and tons of ambition.”

The Ghostbusters of Wall Street

The collapse of the Lehman Brothers boosted BlackRock's business. Fink and his managers were known specialists in analyzing portfolios of mortgage backed securities. This came in handy at a moment when investors and bankers were trying their best to do damage-control. In no time, the team, working out of a backroom office, became known as the "Ghostbusters of Wall Street," Heike Buchter writes. Soon, they received calls from the Federal Reserve on a regular basis. Then-Secretary of the US treasury, Timothy Geithner, was on a first-name basis with the BlackRock boss.

Buchter doesn't fault the US regulators for Fink's stealth iron grip on the financial world. "If you only look at the individual businesses BlackRock is involved in, you don't necessarily realize there's a problem," she said. "But add them all up - all the [company's] lines of business and advisory roles - and you end up looking at a massively complex structure, where you have to wonder: Wow, what kind of monster have they created here."

Who's doing what?

Heike Buchter's in-depth account shines a light on BlackRock's vast web of influence and interests: From its shares in German companies to its role in the Greek debt crisis. However, she said, her goal was not to point fingers, but to give the public the opportunity to understand what they're up against. For Buchter, BlackRock serves as an example of how the financial industry at large works.

"People would like to think that this sector is like most other industries, where you can get a clear picture of who's who, and what's what," Buchert explained. But if there's one thing her research taught her, she added, it's that "the financial system is always changing, it is never in a permanent state. And sometimes it is not quite clear, who is doing what." And that, she reasoned, is what has undermined confidence in the system and made people so angry.

This was in 2015. I can only imagine how much more powerful they've become in the intervening years.

[fj1200]

Seems people have seen Blackrock as a bogeyman for quite sometime.

This was in 2015. I can only imagine how much more powerful they've become in the intervening years.

Amazing, you found another link. Exactly what in this link do you find problematic?

And I thought we were talking about sole interest here. :thinking5:

[SassyLady]

Amazing, you found another link. Exactly what in this link do you find problematic?

And I thought we were talking about sole interest here. :thinking5:

Nothing wrong with the link. This is just one and it's not that that hard to find more if you really want to.

Just pointing out that a lot of people worldwide see BlackRock as a "boogeyman" and have for years. You're the one that brought that up.

[fj1200]

Nothing wrong with the link. This is just one and it's not that that hard to find more if you really want to.

Just pointing out that a lot of people worldwide see BlackRock as a "boogeyman" and have for years. You're the one that brought that up.

I didn't say anything was wrong with the link besides what is wrong with all these links of course. But I'll be more specific; in the link that was posted what information about Blackrock specifically do you find problematic?

[Gunny]

Arguable points. Just not argued very compellingly IMO. BR is a big company that does many things, has done it well, and are now the current bogeyman.Who has made Blackrock the boogeyman? Blackrock, or the people noticing what Blackrock is doing?

for instance, I generally shrugged Blackrock off, taking the same stance as you are. I'm sure it started out as just a way to make money. Here's where I toss out a cliche: "With power comes corruption, with absolute power comes absolute corruption.

It is a fact that Blackrock is behind pushing all this green bullshit, and heavily invested in it, and the politicians that push the agenda for it. I have always held the opinion that regardless who or what, there should be a line drawn between greed and harming the Nation as a result of that greed. I am well aware it is not law and no one can be forced to; yet, it is my opinion nevertheless. It starts with opportunity. Destroy the country that provides the opportunity and you have none. I make that same analogy with short-sighted folks wanting to cry and stay home in November, then bitch because their party s out of power in Jan.

If you don't support and/or destroy the foundation that keeps you on top of the platform, you have only one way to go when that foundation is gone.

You're right in that Blackrock is "today's boogeyman" because it has amassed enough power and sway to be noticed. It's far from the only. Just another.

In the meantime, I have an issue in general with people smart enough to get rich but have to pay someone to think for them.

[fj1200]

Who has made Blackrock the boogeyman? Blackrock, or the people noticing what Blackrock is doing?

for instance, I generally shrugged Blackrock off, taking the same stance as you are. I'm sure it started out as just a way to make money. Here's where I toss out a cliche: "With power comes corruption, with absolute power comes absolute corruption.

It is a fact that Blackrock is behind pushing all this green bullshit, and heavily invested in it, and the politicians that push the agenda for it. I have always held the opinion that regardless who or what, there should be a line drawn between greed and harming the Nation as a result of that greed. I am well aware it is not law and no one can be forced to; yet, it is my opinion nevertheless. It starts with opportunity. Destroy the country that provides the opportunity and you have none. I make that same analogy with short-sighted folks wanting to cry and stay home in November, then bitch because their party s out of power in Jan.

If you don't support and/or destroy the foundation that keeps you on top of the platform, you have only one way to go when that foundation is gone.

You're right in that Blackrock is "today's boogeyman" because it has amassed enough power and sway to be noticed. It's far from the only. Just another.

In the meantime, I have an issue in general with people smart enough to get rich but have to pay someone to think for them.

People who need to find a boogeyman of course. Why does anyone need to find a boogeyman? Why did the Nazis make the Communists the boogeyman? Why did the Nazis make the Jews the Boogeyman? Why do the seemingly powerless make the seemingly powerful the boogeyman any time in history? People just need to find one sometimes.

Just like any private enterprise they are powerful up until the point that they are not.

[Gunny]

People who need to find a boogeyman of course. Why does anyone need to find a boogeyman? Why did the Nazis make the Communists the boogeyman? Why did the Nazis make the Jews the Boogeyman? Why do the seemingly powerless make the seemingly powerful the boogeyman any time in history? People just need to find one sometimes.

Just like any private enterprise they are powerful up until the point that they are not.Or, Blackrock could be making itself the boogeyman with its shady practices. I just don't see Blackrock running solo. It takes two. Blackrock doesn't have political clout without politicians being for sale. A lack of the latter would certainly go a long way in curtailing the former.

Unscrupulous businesses in bed with corrupt politicians. What a way to run a country :rolleyes:

[fj1200]

Or, Blackrock could be making itself the boogeyman with its shady practices. I just don't see Blackrock running solo. It takes two. Blackrock doesn't have political clout without politicians being for sale. A lack of the latter would certainly go a long way in curtailing the former.

Unscrupulous businesses in bed with corrupt politicians. What a way to run a country :rolleyes:

That's partly my point. They are powerful until they are not. And I'm not sure that they're powerful in the first place to the extent that people give them credit.

[Gunny]

That's partly my point. They are powerful until they are not. And I'm not sure that they're powerful in the first place to the extent that people give them credit.The get paid to tell people what to spend their money on. Maybe they started in a bank. As of now, they are a multinational corporation telling wealthy people in other countries as well as ours how to spend their money. That's pretty powerful.

It's subsidiaries include at least one merc outfit and I know that one first hand having been offered a job in the post-9/11 frenzy. Solet's just say they aren't invisible.

Red flag for me is what they do HERE. HERE they are paying a lot to push the green agenda in our government. I can only guess why and my first guess will be the same as I have for the entire green agenda: they want to realign the power and wealth from the fossil fuel industry to themselves by inventing a crisis to sell us the "cures".

If they weren't allowed to operate unchecked here, any alleged global ambitions would be moot. Again, the question there being that even if what they are doing is legal within the letter of the law, it can still be reprehensible and shady when it comes to crapping all over our own country.

[fj1200]

The get paid to tell people what to spend their money on. Maybe they started in a bank. As of now, they are a multinational corporation telling wealthy people in other countries as well as ours how to spend their money. That's pretty powerful.

It's subsidiaries include at least one merc outfit and I know that one first hand having been offered a job in the post-9/11 frenzy. Solet's just say they aren't invisible.

Red flag for me is what they do HERE. HERE they are paying a lot to push the green agenda in our government. I can only guess why and my first guess will be the same as I have for the entire green agenda: they want to realign the power and wealth from the fossil fuel industry to themselves by inventing a crisis to sell us the "cures".

If they weren't allowed to operate unchecked here, any alleged global ambitions would be moot. Again, the question there being that even if what they are doing is legal within the letter of the law, it can still be reprehensible and shady when it comes to crapping all over our own country.

They're an investment advisor. Nothing wrong with that. Apparently a good one. They're also allowed to be wrong on ESG and their business will likely suffer if that turns out to be the case. I'm pretty sure that they don't operate unchecked.

And what merc outfit is affiliated with Blackrock?

[Russ]

I think one question is what are their investment guidelines in particular funds and are they following those guidelines or not. If they say that they will invest based on ESG and they don't, and vice versa; that is where they would run afoul. Institutional money managers are very particular about their subadvisors and are they following the investment guidelines or not? You don't want your bond advisor to start buying stocks or your value stock advisor buying growth stocks, for example, because it throws off their allocation models. It is not illegal, or counter to their role as a fiduciary necessarily, to invest based on ESG; there have been socially responsible funds out there for decades and they haven't been sued recently. I would that think the AGs are suing because Blackrock might not be investing according to their contracts with the state pension plans.

Another question IMO would be whether they are giving up investment returns because of those ESG guidelines. If they are then I expect other money managers will earn superior returns and BR would lose market share. Could be risk that they're taking.

BlackRock's investment guidelines are primarily "We are Fiduciary to our Client" which means they are trying to maximize the client's monetary gains. Don't take my word for it - their employee training material says it plainly. (Although do take my word for it that the training material says that)

The exceptions are that a client can request that their money goes into a specific industry or that it be invested in green stocks for political or altruistic reasons. But in this case the clients are suing BlackRock to move the investments out of ESG and into better performing stocks. Not only does this show the client doesn't want that investment - could you possibly be less fiduciary than resisting a lawsuit from your client to move investments to a different fund?

[fj1200]

BlackRock's investment guidelines are primarily "We are Fiduciary to our Client" which means they are trying to maximize the client's monetary gains. Don't take my word for it - their employee training material says it plainly. (Although do take my word for it that the training material says that)

The exceptions are that a client can request that their money goes into a specific industry or that it be invested in green stocks for political or altruistic reasons. But in this case the clients are suing BlackRock to move the investments out of ESG and into better performing stocks. Not only does this show the client doesn't want that investment - could you possibly be less fiduciary than resisting a lawsuit from your client to move investments to a different fund?

Exactly. I don't think I said anything different. I think I was unclear if a lawsuit had been filed or if the AsG just sent a letter; I believe I saw both characterizations.

[Gunny]

They're an investment advisor. Nothing wrong with that. Apparently a good one. They're also allowed to be wrong on ESG and their business will likely suffer if that turns out to be the case. I'm pretty sure that they don't operate unchecked.

And what merc outfit is affiliated with Blackrock?My bad. I was offered employment by Blackwater. Don't ask me how when I saw this current incident I associated it with Blackrock

They pay well, btw. Better than the Marine Corps, as a matter of fact. Problem is, if the late Mrs Gunny was going to put up with me deploying I would have stayed in the Marine Corps.

Investing clients' money in their favorite charity explains the graft.

[SassyLady]

West Virginia Treasurer Riley Moore talks about how ESGs could become part of our credit score. And that companies like Blackrock, State Street and Vanguard are using investor monies to put pressure on companies to adhere to ESGs.

Interview on Epochtv

https://youtu.be/hbiIbCbhcx0

[Gunny]

I don't know that any lawsuit can be won here. Despite what some think of Blackrock and its investments, it's an investment firm. You take your money to Blackrock to invest for you.

One would think Blackrock would be sensitive to any special instructions by investors if they want the investor's money that badly. On the other hand, Blackrock is hardly the only place to go to invest one's money.

I don't know what the legal standards/rules are for investors and investment firms. And I HATE to do this because nowadays it always bites me in the ass somehow, but common sense dictates one or both could walk away?

[fj1200]

Here's exerts from another article, not sure if you posted this overview of before.

Let's see...

BLACKROCK UNREGULATED INVESTMENT FIRM NOW RULES THE WEST

The firm, BlackRock Inc., the world’s largest asset manager, invests a staggering $9 trillion in client funds worldwide, a sum more than double the annual GDP of the Federal Republic of Germany. That's a lot of money. The market cap of global equities is 124 trillion alone. Global bond markets are 127 trillion. Most of that money belongs to individuals.

This colossus sits atop the pyramid of world corporate ownership, including in China most recently, writes F. William Engdahl, a strategic risk consultant and lecturer, best-selling author on oil and geopolitics, exclusively for the online magazine “New Eastern Outlook”. No it doesn't
Since 1988 the company has put itself in a position to de facto control the Federal Reserve, most Wall Street mega-banks, including Goldman Sachs, the Davos World Economic Forum Great Reset, the Biden Administration and, if left unchecked, the economic future of our world. No it hasn't.

BlackRock is the epitome of what Mussolini called Corporatism, where an unelected corporate elite dictates top down to the population. Mussolini was a fascist who believed in corporations bowing down to the will of government. Is that the takeaway here?

BlackRock Unregulated Investment Firm: How the world’s largest “shadow bank” exercises this enormous power over the world ought to concern us. BlackRock since Larry Fink founded it in 1988 has managed to assemble unique financial software and assets that no other entity has. BR is not unregulated.
BlackRock’s Aladdin risk-management system, a software tool that can track and analyze trading, monitors more than $18 trillion in assets for 200 financial firms including the Federal Reserve and European central banks. BR doesn't have a monopoly on publicly available information.
He who “monitors” also knows, we can imagine. BlackRock has been called a financial “Swiss Army Knife — institutional investor, money manager, private equity firm, and global government partner rolled into one.” Yet mainstream media treats the company as just another Wall Street financial firm. Maybe because they are.
There is a seamless interface that ties the UN Agenda 2030 with the Davos World Economic Forum Great Reset and the nascent economic policies of the Biden Administration. That interface is BlackRock. Facts not in evidence.

WHAT IS BLACKROCK?
Never before has a financial company with so much influence over world markets been so hidden from public scrutiny. Facts not in evidence. That’s no accident. As it is technically not a bank making bank loans or taking deposits, it evades the regulation oversight from the Federal Reserve even though it does what most mega banks like HSBC or JP MorganChase do—buy, sell securities for profit. It is technically not a bank because it doesn't do what mega banks do.
When there was a Congressional push to include asset managers such as BlackRock and Vanguard Funds under the post-2008 Dodd-Frank law as “systemically important financial institutions” or SIFIs, a huge lobbying push from BlackRock ended the threat. And many others ended the threat because it shouldn't be regulated per Dodd Frank. BlackRock is essentially a law onto itself. Facts not in evidence. And indeed it is “systemically important” as no other, with possible exception of Vanguard, which is said to also be a major shareholder in BlackRock. It's not really, see other thread.

BlackRock founder and CEO Larry Fink is clearly interested in buying influence globally.
He made former German CDU MP Friederich Merz head of BlackRock Germany when it looked as if he might succeed Chancellor Merkel, and former British Chancellor of Exchequer George Osborne as “political consultant.” Fink named former Hillary Clinton Chief of Staff Cheryl Mills to the BlackRock board when it seemed certain Hillary would soon be in the White House.
He has named former central bankers to his board and gone on to secure lucrative contracts with their former institutions. Stanley Fisher, former head of the Bank of Israel and also later Vice Chairman of the Federal Reserve is now Senior Adviser at BlackRock. Philipp Hildebrand, former Swiss National Bank president, is vice chairman at BlackRock, where he oversees the BlackRock Investment Institute. Jean Boivin, the former deputy governor of the Bank of Canada, is the global head of research at BlackRock’s investment institute. Speculative.

BLACKROCK AND THE FED
It was this ex-central bank team at BlackRock that developed an “emergency” bailout plan for Fed chairman Powell in March 2019 as financial markets appeared on the brink of another 2008 “Lehman crisis” meltdown.
As “thank you,” Facts not in evidence. the Fed chairman Jerome Powell named BlackRock in a no-bid role to manage all of the Fed’s corporate bond purchase programs, including bonds where BlackRock itself invests. Conflict of interest? Possibly but all sides are subject to oversight.
A group of some 30 NGOs wrote to Fed Chairman Powell, “By giving BlackRock full control of this debt buyout program, the Fed… makes BlackRock even more systemically important to the financial system. Yet BlackRock is not subject to the regulatory scrutiny of even smaller systemically important financial institutions.”... The size of the Fed positions in the "tens of billions (https://www.reuters.com/article/us-usa-fed-blackrock/blackrock-conflicts-managed-extremely-carefully-feds-powell-says-idUSKCN24U377)" where the size of the domestic bond market is around 46 trillion.

LARRY FINK AND WEF GREAT RESET
In 2019 Larry Fink joined the Board of the Davos World Economic Forum, the Swiss-based organization that for some 40 years has advanced economic globalization.
Fink, who is close to the WEF’s technocrat head, Klaus Schwab, of Great Reset notoriety, now stands positioned to use the huge weight of BlackRock to create what is potentially, if it doesn’t collapse before, the world’s largest Ponzi scam, ESG corporate investing. Fink with $9 trillion to leverage is pushing the greatest shift of capital in history into a scam known as ESG Investing. The UN “sustainable economy” agenda is being realized quietly by the very same global banks which have created the financial crises in 2008. Facts not in evidence.


It seems like the solutions to the alleged problems are massive increases in governmental power. I'm at least afraid of populist takeover based on the above than I am the globalists getting their solutions passed, possibly moreso.

[SassyLady]

https://www.thegatewaypundit.com/2022/10/state-removes-nearly-800-million-blackrock-leftist-esg-efforts/

[fj1200]

Good for them. The comments to the story though. Amusing.

[revelarts]

https://www.youtube.com/watch?v=1n4zkdfKUAE

"During the 2008 Meltdown when the government bailed out too-big-to-fail giants like Bear Stearns, AIG, Fannie Mae, Freddie Mac - who did they hire to analyze and clean up the mess?Another giant financial firm by the name of BlackRock, lead by a very well connected billionaire by the name of Larry FinkBlackRock was award these key government contracts to help with the meltdown with no competitive bidding while being enveloped in secrecyBasically, Larry Fink was hired to be the manager of Washington’s bailout of Wall Street, even though BlackRock is one of the biggest shareholders in the same banks that they were helping to bail out.In 2020, who did the money printer of the US, the Federal Reserve, hire to manage their scheme to buy corporate bonds? (Basically, they were bailing out corporations that had too much debt or needed to borrow money)You guessed it, they went right back to BlackRock.Even though again, the same corporations BlackRock was helping to bailing out, were the same corporations they owned some of the biggest stakes inAnd yet, despite all his considerable power, the general public has practically never heard of Larry FinkWith BlackRock barely coming into the public eye during the recent claims that they’re buying up single-family homesThat’s because Larry is smart - he’s intentionally kept it that wayHe’s spent the last 33 years building BlackRock into the biggest asset manager in the world, with over $9 trillion dollars under their managementToday, BlackRock’s clients include the retirement accounts of average everyday people in the form of pension funds, they also have sovereign wealth funds as their clients, other central banks, college endowments, “Fortune 500 companies”, and millions of individual investorsThis is BlackRockWhat some call "the most influential financial institution in the world,"The world's largest shadow bank,And perhaps… the company that owns the world… When Larry Fink was asked by Bloomberg if it’s true that he’s the most powerful man in finance - the man responsible for $9 trillion dollars tried to convince you otherwise - that “I don’t think of myself as powerful”Is that true? Does BlackRock own the world? Well, it’s a little complicated"




FYI
Recently Zelensky meets with & TEAMS UP With JP Morgan, Blackrock leadership
"For Freedom"

[fj1200]

… the company that owns the world…

Nothing like a little hyperbole.

[Gunny]

Nothing like a little hyperbole.Doesn't sound much different than the US government. Or a vampire. Silently working away in the dead of dark night sucking the life out of its victims.

We're going to stand on what's left of the time island of "there's no evidence" until there's no place left to stand. When you add all the bits and pieces from every sector that are selling us out, it adds up to quacking like a duck.

[fj1200]

Doesn't sound much different than the US government. Or a vampire. Silently working away in the dead of dark night sucking the life out of its victims.

We're going to stand on what's left of the time island of "there's no evidence" until there's no place left to stand. When you add all the bits and pieces from every sector that are selling us out, it adds up to quacking like a duck.

I'm not so much worried about Blackrock. They're just the current boogyman making the rounds, albeit for a few years at this point, that any youtube channel, vlog, etc. will take a shot at while they rehash the same info. It's the equivalent of lazy journalism just on the other side.

[Gunny]

I'm not so much worried about Blackrock. They're just the current boogyman making the rounds, albeit for a few years at this point, that any youtube channel, vlog, etc. will take a shot at while they rehash the same info. It's the equivalent of lazy journalism just on the other side.I agree it's just Blackrock's turn. Dismissing the elephant in the room just because incessantly chattering magpies won't shut up in no way negates what Blackrock is, nor what it is doing.

There's quite a list of "boogeymen" treated exactly that way. The Border/fentanyl. Each and every one of Biden's energy policies. Each and every one of the left's social and socialist agendas.

I'm having a real hard time coming up with even a single "conspiracy", or making mountains out of molehills, that hasn't come true and isn't biting us in the ass.

There's a difference between whack-job conspiracy theories and connecting real dots to collective disaster. To me, anyway.