Fink acknowledged at the event that Florida Gov. Ron DeSantis' decision to yank $2 billion in assets hurt his firm. Gov. DeSantis pulled state assets managed by the world's largest money manager in late 2022 over "woke" capitalism policies.
Lawmakers from red states have called out BlackRock for its toxic woke capitalism push in corporate America. Besides Florida, states like Louisiana, South Carolina, Utah, Arkansas, West Virginia, Missouri, and Texas have withdrawn funds from the asset manager.
Recall Fink was very nervous earlier this year over the 'demonization' of ESG.
© Bloomberg
Fink, 70, said he was "ashamed of being part of this conversation," adding:"These elitists are trying to impose restrictions on energy companies and utilities that would never win approval at the ballot box.
"Their schemes could raise utility bills for regular Americans, including elderly Hoosiers on fixed incomes, and they could diminish the value of their investment accounts," Indiana Attorney General Todd Rokita said in a statement last month.
Of course, that's nonsense. Fink has been at the center of pushing 'climate change' policies and has even said his company would "force behaviors" on corporate America."When I write these [investment] letters, it was never meant to be a political statement. ... They were written to identify longterm issues to our longterm investors."
And then there's this...
Axios said at the event:
Fink isn't ashamed of ESG... He's furious the scheme to ram woke capitalism down corporations through voting proxies has hit a serious snag and generated serious blowback from lawmakers and average Americans.When pressed on the statement later in the conversation, Fink backtracked.
"I never said I was ashamed," he said, incorrectly. "I'm not ashamed. I do believe in conscientious capitalism."
"I'm not going to use the word ESG because it's been misused by the far left and the far right," he added.
Here are some of BlackRock's top holdings.
Reader Comments
I mean truly, let his balls hang easier but it ought be evident he is a liar.
In fact, he is more that that - he is insidious and nefarious. He is a common criminal. A thief. A liar and a jerk...an asshole extraordinaire and somebody who ought be convicted for all the harm he has caused.
Simple as that.
He ought be ashamed of hisself.
If he desires amnesty he ought disavow all that he has facilitated - and let me ask you dear reader - what you think the probability of that is? That, to put it simply is why it is WAR!
Let the best ideas prevail.
BK