Blackrock violating "sole interest" rule

[SassyLady]

Using ESGs to try and rule the world.

https://news.ballotpedia.org/2022/09...n-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...n-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/2...ules-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/2...ules-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

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/showthre...k-and-Vanguard

http://www.debatepolicy.com/showthre...k-and-Vanguard

[SassyLady]

Mere rehash.

http://www.debatepolicy.com/showthre...k-and-Vanguard

http://www.debatepolicy.com/showthre...k-and-Vanguard

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

[Gunny]

Mere rehash.

http://www.debatepolicy.com/showthre...k-and-Vanguard

http://www.debatepolicy.com/showthre...k-and-Vanguard

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.

[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" 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.