Kathianne
08-02-2023, 03:46 PM
SassyLady I know you've posted on them before:
https://hotair.com/tree-hugging-sister/2023/08/02/blackrock-is-the-800lb-gorilla-of-extra-scammy-goodness-n568667
Blackrock is the 800lb gorilla of Extra Scammy Goodness
BEEGE WELBORN 2:31 PM on August 02, 2023
When you have too much money, too much influence, and you know you’re too damn smart to just let the peasants live their lives without your dictatorial benevolence tipping the scales in the direction you want their lives to be lived, sometimes…you out-clever yourself. You get too cutesy by half in your arrogance.
Blackrock has that problem.
...
It’s an argle-bargle scam to end-run states who are starting to watch Blackrock closely.
…Wiser states will legislatively mandate disclosure of investment-stewardship meetings and make it clear that pressuring companies to support ESG or other ideological objectives over profits is itself a breach of fiduciary duties, even if informal.
In any event, it is very unlikely that red states will allow BlackRock to use its so-called Voting Choice ruse as a shortcut around its fiduciary obligations. Legislators, attorneys general, and state financial officers are following these issues closely. And as the elected stewards of their states’ (and taxpayers’) investments, they are holding BlackRock and other ESG supporting firms accountable.
Actually, Blackrock has a Larry Fink problem. Fink is one of the seven original founders of the firm, and he is now the CEO and chairman of the firm he helped create in 1988 – its guiding light, you might say. Fink’s visionary light burns with a globalist passion to shape the world in his idealized version, and, as his firm has managed to accrue significant investments (read: control) of every major corporation on the planet, he has the leverage to do so.
Oxfam Research -“says that 82% of all earned money in 2017 went to those 1%.”
BlackRock, Vanguard & State street owns the majority of stocks in Alphabet, Apple, Microsoft, IBM, Facebook, AT&T and many, than other institutional investors. Which makes them first mover advantage. BlackRock has invested $170 billion in U.S. public energy companies (2021) and $85bn investment only in coal companies.
All three combined $20 trillion in managed assets is the equivalent of more than half of the combined value of all shares of companies in the S&P 500 (about $38 trillion). And That’s larger than the gross domestic product (GDP) of every single country around the globe, except for China and the United States.
Bloomberg calls BlackRock “The fourth branch of government”, because it’s the only private agency that closely works with the central banks. These firms were right of Federal Reserve which helped in time of 2008 housing crises to clear the mess.
All that financial muscle powering an engrained WEF mentality? It’s led to Blackrock using that heft to force the woke social engineering changes they want by pressuring firms whose assets they manage, regardless of where those firms’ board or management stood on the issues.
…Large asset managers integrate ESG objectives into their investment approaches in one of two ways. The first is through dedicated ESG or sustainability funds, which systematically exclude or underweight securities in disfavored sectors such as fossil fuels, tobacco and firearms. These funds represent a small portion of total assets under management—less than 6% as of last year in BlackRock’s case. If dedicated ESG funds accurately disclose their policies and the ultimate capital owners are informed of them before making investment decisions, there’s no legal problem. People are free to use their money to promote any social causes they like.
The second and more prevalent way that asset managers promote ESG is through “stewardship,” which refers to proxy voting and shareholder engagement. The largest asset managers use stewardship to promote ESG principles in all their portfolios, including non-ESG index funds.
In 2022, large asset managers including BlackRock voted in favor of implementing racial-equity audits at companies like Apple and Home Depot notwithstanding that the companies’ boards recommended against doing so. Similar examples abound with large asset managers imposing emissions caps, ESG-linked executive compensation and board diversity mandates across corporate America. Many capital owners strongly disagree with these objectives even though their money was used to support them.
The problem for their plans to reshape society by rejiggering the workplace to fit their template was that the populace in general was waking up to “woke.” People have not liked a thing they’ve been seeing. DEI programs were bad enough, but the Environmental, Social, and Governance (ESG) standing of a company determining investing vice fiduciary principles became a rallying cry for conservatives and a nascent anti-woke movement. In August of last year, 19 Republican attorneys general wrote a well-publicized shot-across-the-bow to Fink and Blackrock concerning the firm’s handling of their states’ pension funds. Were the demands of supporting unicorn farts taking precedence over pensioners’ security?
...
The firm, monstrous as it is, has a responsibility to investors and those whose assets it manages to do so as securely and lucratively as possible. That is their first and primary reason for existence – not saving the planet or leveling the skin hues on the secretarial floor. When that basic trust is breached, a firm can be held responsible for losses incurred while exercising their whims with other people’s money.
Fink has admitted the FL fund withdrawal hurt the firm bigly, but they still made a buttload of money. What has really chafed his hide is the unwelcome scrutiny he and Blackrock are receiving thanks to these behind the scene machinations being exposed to the peasants.
Three years ago, no one but gushing Bloomberg/CNBC reporters and the mechanic at the visiting aircraft line in Davos knew who he was. Now everyone spits when they say his name.
For the moment, Fink humbly insists he’s “ashamed”. He didn’t want things “politicized,” and won’t be talking ESG anymore.
PINKIE SWEAR
BlackRock CEO Larry Fink said he’s no longer using the term “ESG” (environment, social and governance) because it is being politically “weaponized” and he’s “ashamed” to be part of the debate on the issue.
Why it matters: How the world’s largest asset manager frames its investment approach is a leading indicator for the market. BlackRock manages $9.2 trillion.
What we’re watching: Fink’s latest statement is sure to generate plenty of controversy.
Part of what he’s “ashamed of” should be talking out of both sides of his mouth. It probably won’t be, considering who he is, but everyone should know what corrupt sneks he and his do-gooder firm really are.
Yeah, they’re “green,” alright – like greenbacks green.
Fink is also probably seeing red, like a Chinese lacquer, at the nerve of Republicans launching an investigation yesterday into? Blackrock funding anti-American Chinese firms and activities which directly benefit the Chinese military.
These are not good people. These are not upstanding Americans.
They are not trying to save the world – they are trying to control it.
We see you.
https://hotair.com/tree-hugging-sister/2023/08/02/blackrock-is-the-800lb-gorilla-of-extra-scammy-goodness-n568667
Blackrock is the 800lb gorilla of Extra Scammy Goodness
BEEGE WELBORN 2:31 PM on August 02, 2023
When you have too much money, too much influence, and you know you’re too damn smart to just let the peasants live their lives without your dictatorial benevolence tipping the scales in the direction you want their lives to be lived, sometimes…you out-clever yourself. You get too cutesy by half in your arrogance.
Blackrock has that problem.
...
It’s an argle-bargle scam to end-run states who are starting to watch Blackrock closely.
…Wiser states will legislatively mandate disclosure of investment-stewardship meetings and make it clear that pressuring companies to support ESG or other ideological objectives over profits is itself a breach of fiduciary duties, even if informal.
In any event, it is very unlikely that red states will allow BlackRock to use its so-called Voting Choice ruse as a shortcut around its fiduciary obligations. Legislators, attorneys general, and state financial officers are following these issues closely. And as the elected stewards of their states’ (and taxpayers’) investments, they are holding BlackRock and other ESG supporting firms accountable.
Actually, Blackrock has a Larry Fink problem. Fink is one of the seven original founders of the firm, and he is now the CEO and chairman of the firm he helped create in 1988 – its guiding light, you might say. Fink’s visionary light burns with a globalist passion to shape the world in his idealized version, and, as his firm has managed to accrue significant investments (read: control) of every major corporation on the planet, he has the leverage to do so.
Oxfam Research -“says that 82% of all earned money in 2017 went to those 1%.”
BlackRock, Vanguard & State street owns the majority of stocks in Alphabet, Apple, Microsoft, IBM, Facebook, AT&T and many, than other institutional investors. Which makes them first mover advantage. BlackRock has invested $170 billion in U.S. public energy companies (2021) and $85bn investment only in coal companies.
All three combined $20 trillion in managed assets is the equivalent of more than half of the combined value of all shares of companies in the S&P 500 (about $38 trillion). And That’s larger than the gross domestic product (GDP) of every single country around the globe, except for China and the United States.
Bloomberg calls BlackRock “The fourth branch of government”, because it’s the only private agency that closely works with the central banks. These firms were right of Federal Reserve which helped in time of 2008 housing crises to clear the mess.
All that financial muscle powering an engrained WEF mentality? It’s led to Blackrock using that heft to force the woke social engineering changes they want by pressuring firms whose assets they manage, regardless of where those firms’ board or management stood on the issues.
…Large asset managers integrate ESG objectives into their investment approaches in one of two ways. The first is through dedicated ESG or sustainability funds, which systematically exclude or underweight securities in disfavored sectors such as fossil fuels, tobacco and firearms. These funds represent a small portion of total assets under management—less than 6% as of last year in BlackRock’s case. If dedicated ESG funds accurately disclose their policies and the ultimate capital owners are informed of them before making investment decisions, there’s no legal problem. People are free to use their money to promote any social causes they like.
The second and more prevalent way that asset managers promote ESG is through “stewardship,” which refers to proxy voting and shareholder engagement. The largest asset managers use stewardship to promote ESG principles in all their portfolios, including non-ESG index funds.
In 2022, large asset managers including BlackRock voted in favor of implementing racial-equity audits at companies like Apple and Home Depot notwithstanding that the companies’ boards recommended against doing so. Similar examples abound with large asset managers imposing emissions caps, ESG-linked executive compensation and board diversity mandates across corporate America. Many capital owners strongly disagree with these objectives even though their money was used to support them.
The problem for their plans to reshape society by rejiggering the workplace to fit their template was that the populace in general was waking up to “woke.” People have not liked a thing they’ve been seeing. DEI programs were bad enough, but the Environmental, Social, and Governance (ESG) standing of a company determining investing vice fiduciary principles became a rallying cry for conservatives and a nascent anti-woke movement. In August of last year, 19 Republican attorneys general wrote a well-publicized shot-across-the-bow to Fink and Blackrock concerning the firm’s handling of their states’ pension funds. Were the demands of supporting unicorn farts taking precedence over pensioners’ security?
...
The firm, monstrous as it is, has a responsibility to investors and those whose assets it manages to do so as securely and lucratively as possible. That is their first and primary reason for existence – not saving the planet or leveling the skin hues on the secretarial floor. When that basic trust is breached, a firm can be held responsible for losses incurred while exercising their whims with other people’s money.
Fink has admitted the FL fund withdrawal hurt the firm bigly, but they still made a buttload of money. What has really chafed his hide is the unwelcome scrutiny he and Blackrock are receiving thanks to these behind the scene machinations being exposed to the peasants.
Three years ago, no one but gushing Bloomberg/CNBC reporters and the mechanic at the visiting aircraft line in Davos knew who he was. Now everyone spits when they say his name.
For the moment, Fink humbly insists he’s “ashamed”. He didn’t want things “politicized,” and won’t be talking ESG anymore.
PINKIE SWEAR
BlackRock CEO Larry Fink said he’s no longer using the term “ESG” (environment, social and governance) because it is being politically “weaponized” and he’s “ashamed” to be part of the debate on the issue.
Why it matters: How the world’s largest asset manager frames its investment approach is a leading indicator for the market. BlackRock manages $9.2 trillion.
What we’re watching: Fink’s latest statement is sure to generate plenty of controversy.
Part of what he’s “ashamed of” should be talking out of both sides of his mouth. It probably won’t be, considering who he is, but everyone should know what corrupt sneks he and his do-gooder firm really are.
Yeah, they’re “green,” alright – like greenbacks green.
Fink is also probably seeing red, like a Chinese lacquer, at the nerve of Republicans launching an investigation yesterday into? Blackrock funding anti-American Chinese firms and activities which directly benefit the Chinese military.
These are not good people. These are not upstanding Americans.
They are not trying to save the world – they are trying to control it.
We see you.