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.
Show Notes
Clips
Episode Timestamp + Link | Clip Link
- 00:00:13 | The Bid: Larry Fink On The Power of Capitalism
- 00:01:03 | The Economic Club of Chicago: Laurence D. Fink, Founder, Chairman & CEO, BlackRock, 2/13/18
- 00:01:11 | CNBC Television: BlackRock CEO Larry Fink explains his decision to prioritize sustainability
- 00:01:40 | Fox Business: BlackRock CEO: America will win the economic war
- 00:05:35 | Pixies: Monkey Gone To Heaven
- 00:12:58 | Prince: 1999
- 00:13:16 | Frankie Laine and Jimmy Boyd: Tell Me a Story
- 00:17:34 | Scent of a Woman: I'm Just Getting Warmed Up
- 00:20:00 | Aladdin: Aladdin Meets Genie
- 00:20:14 | The Economic Club of Chicago: Laurence D. Fink, Founder, Chairman & CEO, BlackRock, 2/13/18
- 00:22:27 | Hamilton: The Room Where It Happens
- 00:22:53 | Pretty Sneaky Sis
- 00:25:29 | Spring Awakening: Totally Fucked
- 00:27:36 | Flight of the Conchords: Business Time
- 00:31:35 | Malcolm X: Too Much Power
- 00:46:49 | CNBC: BlackRock CEO Larry Fink: There's a need for more conscious capitalism
- 00:47:34 | The Godfather: Part 2: My Offer is Nothing
- 00:47:47 | The Office: That’s What She Said
- 00:49:29 | CNBC: Cramer's lightning round: BlackRock's a buy
- 00:49:44 | CNBC: How BlackRock Became The World's Largest Asset Manager
- 00:50:04 | CNBC: BlackRock CEO Larry Fink discusses latest earnings, post-Covid economy
- 00:50:14 | Sorelle Amore Finance: This company owns the world (and it's our fault) - BlackRock
- 00:50:24 | Fox Business: Arizona AG warns BlackRock to halt potential collusion
- 00:50:30 | BlackRock: Meet Joseph, Director of Development, Aladdin Product Group
- 01:09:41 | Mary Poppins: Fidelity Fiduciary Bank
- 01:11:15 | John Oliver: Fuck You All Forever
- 01:11:35 | Flight of the Conchords: Business Time
Resources
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Vanity Fair: Larry Fink’s $12 Trillion Shadow
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BlackRock: 2021 Annual Report
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Policy Tensor: Seeing Like BlackRock
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Insider: Here are 9 fascinating facts to know about BlackRock, the world’s largest asset manager
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Bloomberg: Biden Ties to BlackRock Deepen With Latest Treasury Hire
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Wall Street Journal: One Firm Getting What It Wants in Washington: BlackRock
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OpenSecrets: BlackRock Inc
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Office of Financial Research: Asset Management and Financial Stability, September 2013
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Bloomberg: In Fink We Trust: BlackRock Is Now ‘Fourth Branch of Government’
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BlackRock: Sustainable investing at BlackRock
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Banking On Climate Change: The Worst Banks Since the Paris Agreement
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The Bureau of Investigative Journalism: BlackRock Tells Oil Regulator: Ignore Our CEO’s Climate Pledges
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Florida State Board of Administration: August 23, 2022 Meeting
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Sierra Club: Maine becomes the first state to pass law to divest from fossil fuels
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Morgan Stanley Institute For Sustainable Investing: Sustainable Reality
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BlackRock: BlackRock and housing: Setting the record straight
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The Atlantic: BlackRock Is Not Ruining the U.S. Housing Market
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Securities and Exchange Commission: Sallie Mae Proxy Statement
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Pensions & Investments: Nestle moves pension assets to BlackRock as it reorganizes internal management unit
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CNN Business: Nestle SA
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Investopedia: The Top 5 British Petroleum (BP) Shareholders
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CNN Business: Walmart Inc
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Bloomberg Markets and Finance: BlackRock CEO Larry Fink on Inflation, ESG Investing
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The New York Times: Patagonia Founder Gives Away the Company to Fight Climate Change
UNFTR Episode Resources
Book Love
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David Carey and John E. Morris: King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone
UNFTR Quick Links