Larry Fink, CEO of BlackRock.
BlackRock has agreed to Ron DeSantis’ demands that Florida’s state pension funds can’t be used for eco-activism fantasy quests (like ESG*). Now they have to be used to make profits for the people those funds belong to.
That’s not much of a win you might think, since that’s just a return to “the world we thought we were living in”, but in the World of Absurd it’s popping a very important bubble. Possibly “the” most important bubble — the loose money driving the trainwreck of stupid investments and sabotage-like-boycotts.
Secondly — Larry Fink feels hurt.
The glitter-wheels are falling off the climate fund-wagon.
The CEO of BlackRock was running around the world acting like the third largest nation on Earth. He was waving ten trillion dollars of other people’s money and bossing people into joining his cult. That party is coming undone.
BlackRock are the financial Climate Police disguised as a Monster Investment Fund but the anti-woke movement is gaining ground:
By Rachel Koning Beals, MorningStar
Larry Fink — who called climate change the investing opportunity of his lifetime — tells Davos gathering he’s working to change the narrative, such as Elon Musk saying ESG’s ‘S’ stands for ‘satanic’.
That’s fund giant BlackRock Inc.’s(BLK) Chief Executive Larry Fink’s answer when asked this week at the glitzy Switzerland gathering of executives, economists and politicians about the “anti-woke” pushback against Wall Streeters who see investment opportunity in fighting climate change.
Fink said… “”Let’s be clear, the narrative is ugly, the narrative is creating this huge polarization.”
It couldn’t happen to a nicer guy.
John Carney, Breitbart News
Larry Fink said that criticism of ESG investing has become personal and accused critics of trying to “demonize” an investment strategy he has championed for the past several years.
“I’m taking this very seriously,” the BlackRock chief said in an interview with Bloomberg TV on Tuesday. “We are trying to address the misconceptions. It’s hard because it’s not business any more, they’re doing it in a personal way. And for the first time in my professional career, attacks are now personal. They’re trying to demonize the issues.”
Karma. When did Larry Fink say anything about the rampant demonization and personal attacks on climate skeptics?
Florida hasn’t taken much money back from Fink (in the big scheme), but they have shown the way, and Fink must be worried that if word spreads, BlackRock could become an empty shell.
There is a long way to go, but the legal process used by US State governments against BlackRock can cut the heads off the funding hydra that takes trillions of dollars from citizens and uses it against them.
It’s a breach of anti-trust law in the US and works just like a giant financial cartel.
There are already 19 US States fighting back against BlackRock.
They may be our best hope of clawing back power from the dark money bubble threatening democracies.
*ESG stands for “Environment, Social, Governance” but means virtually anything fluffy and fashionable.