BlackRock: The Devil's Banker. Do as I say, not as I do.
Larry Fink is one of the most influential people on the planet. His firm BlackRock mints money. Billions of dollars a year. Their risk management platform handles more than $10 trillion a year. He helped guide the country out of the financial crisis in 2009 and positioned his company to grow unfettered by the very regulatory authorities he advised at the time. He’s by all accounts funny, affable, competitive and compassionate. BlackRock is at the center of a storm in conservative media for pushing companies too hard toward sustainability. That he’s too “woke.” Liberals think he’s behind the housing crisis. Conspiracy theorists believe he’s in the pocket of the Chinese government. The real story of BlackRock is bigger, more mundane and just as terrifying.
BlackRock Disclaimer: 00:00:05
Chapter One: Bank or no bank? You decide. 00:05:31
Chapter Two: Birth of a giant. 00:13:12
Chapter Three: Just how big is BlackRock? 00:24:20
Chapter Four: The ESG Hullabaloo. 00:31:46
Chapter Five: Bring it home, Max. 00:40:11
Post Show Musings: 00:50:48
Vanity Fair: Larry Fink’s $12 Trillion Shadow
BlackRock: 2021 Annual Report
Policy Tensor: Seeing Like BlackRock
Wall Street Journal: One Firm Getting What It Wants in Washington: BlackRock
OpenSecrets: BlackRock Inc
Office of Financial Research: Asset Management and Financial Stability, September 2013
BlackRock: Sustainable investing at BlackRock
Banking On Climate Change: The Worst Banks Since the Paris Agreement
The Bureau of Investigative Journalism: BlackRock Tells Oil Regulator: Ignore Our CEO’s Climate Pledges
Florida State Board of Administration: August 23, 2022 Meeting
Morgan Stanley Institute For Sustainable Investing: Sustainable Reality
The Atlantic: BlackRock Is Not Ruining the U.S. Housing Market
Securities and Exchange Commission: Sallie Mae Proxy Statement
Pensions & Investments: Nestle moves pension assets to BlackRock as it reorganizes internal management unit
CNN Business: Nestle SA
Investopedia: The Top 5 British Petroleum (BP) Shareholders
CNN Business: Walmart Inc
Bloomberg Markets and Finance: BlackRock CEO Larry Fink on Inflation, ESG Investing
UNFTR Episode Resources
David Carey and John E. Morris: King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone
Join the Unf*cker-run Facebook group: facebook.com/groups/2051537518349565
Buy yourself some Unf*cking Coffee at shop.unftr.com.
Subscribe to Unf*cking The Republic on Substack at unftr.substack.com to get the essays these episode are framed around sent to your inbox every week.
Check out the UNFTR Pod Love playlist on Spotify: spoti.fi/3yzIlUP.
Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility.
Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is written by BlackRock. Or is it Blackstone? And hosted by Blackstone. Or is it BlackRock?
Podcast art description: Image of the US Constitution ripped in the middle revealing white text on a blue background that says, "Unf*cking the Republic."
See omnystudio.com/listener for privacy information.