BLACKROCK PREPARES FOR THE BIDEN LOOMING DEPRESSION (RECESSION FOR THE SUPER RICH AND BAILED OUT BANKSTERS)
BlackRock Is Now Preparing, As Bankruptcies Skyrocket To 2009 Levels
Breitbart Editor-in-Chief and New York Times bestselling Breaking Biden author Alex Marlow told YouTuber Stephen Gardner the Bidens would be in “handcuffs” if the United States “had a responsible Department of Justice.”
World’s largest asset management firm
was “front and center” of Fed’s Wall
Street bailout
The close collaboration between the US Treasury, the Federal Reserve and the multi-billion dollar asset management firm Blackrock in devising the March 2020 rescue operation for Wall Street has been revealed in an article published in the New York Times yesterday.
“Protect and enrich.” This is a perfect encapsulation of the Clinton Foundation (TWO GAMER LAWYERS - OWNED BY GEORGE SOROS) (WHAT ABOUT THE CHINA BIDEN PENN CENTER?) and the Obamas (TWO GAMER LAWYERS - OWNED BY GEORGE SOROS) book and television deals. Then there is the Biden family (FOUR GAMER LAWYERS - JOE, HUNTER, JAMES, FRANK - OWNED BY GEORGE SOROS AND LARRY FINK OF BLACKROCK) corruption, followed closely behind by similar abuses of power and office by the (GAMER LYING LAWYER )Warren and Sanders families, as Peter Schweizer described in his recent book “Profiles in Corruption.” These names just scratch the surface of government corruption (ADD GAMER LAWYER KAMALA HARRIS (OWNED BY GEORGE SOROS) AND HER LAWYER HUSBAND AND THE BANKSTERS’ RENT BOY, (GAMER LAWYER) CHUCK SCHUMER, OWNED BY LARRY FINK OF BLACKROCK WHO OWNS A BIG PIECE OF THE ‘BIG GUY’ JOE, AND GEORGE SOROS’ RENT BOY (GAMER LAWYER) TONY BLINKEN, AS WELL AS CON MAN (GAMER LAWYER) ADAM SHIFF AND HIS CORRUPTNESS (GAMER LAWYER) BOB MENENDEZ STILL EVADING PRISON, AND NOT BE VERY LEAST, (GAMER LAWYER) ERIC SWALWELL, THE CHINESE SPY AND HO CHASING BRIBES SUCKER.
BRIAN C JOONDEPH
ESG Bully BlackRock Hypocritically Attacks Texas Over $8.5 Billion Divestment
In accordance with state law, the Texas Board of Education is divesting $8.5 billion of its Texas Permanent School Fund (TPSF) from BlackRock because of the asset manager’s Environmental, Social, and Governance (ESG) investment philosophy.
BlackRock bases its investment decisions on its ESG agenda, not solely on maximizing its clients’ financial returns. It boycotts oil and gas industries critical to the Texas economy, in favor of so-called “green” industries.
“BlackRock’s dominant and persistent leadership in the ESG movement immeasurably damages our state’s oil & gas economy and the very companies that generate revenues for our PSF,” Texas State Board of Education Chairman Aaron Kinsey explained in a statement announcing the divestment.
“BlackRock’s destructive approach toward the energy companies that this state and our world depend on is incompatible with our fiduciary duty to Texans,” Kinsey added. “The PSF will not stand idle as our financial future is attacked by Wall Street.”
The $8.3 billion divestment from BlackRock is the largest among the growing number of states withdrawing funds from the firm due to its politically-discriminatory, ESG-driven investment policies.
In response, BlackRock actually attacked Texas – by accusing the state of the very wrongdoings practiced by BlackRock that prompted the state’s divestment: putting politics over profits.
“As a fiduciary, politics should never outweigh performance, especially for taxpayers,” BlackRock told National Review in a statement.
BlackRock called Texas’ decision “arbitrary” - even though it was clearly based on BlackRock’s ESG activism:
“Today’s unilateral and arbitrary decision by Board of Education Chair Aaron Kinsey jeopardizes Texas schools and the families who have benefited from BlackRock’s consistent long-term outperformance for the Texas Permanent School Fund.”
What's more, the divestment from BlackRock was not a "unilateral" decision by Kinsey: it was required by a law passed by the state's legislature and signed by its governor.
Texas’ decision has been widely praised by those who believe asset managers should adhere to their fiduciary responsibility to their clients.
The $8.3 billion divestment sends a "clear message" that "Wall Street elites that people can no longer be bullied into complying with ESG's destructive ideology," Consumers' Research Executive Director Will Hild said, according to a report by Fox Business.
BlackRock’s practices are a “flagrant violation of fiduciary duty,” Hild said. “BlackRock was simultaneously trying to destroy the domestic oil and gas industry while managing funds that depended on royalties derived from that very same industry.”
State Financial Officers Foundation CEO Derek Kreifels applauded Texas’ move, calling it “a massive blow against the scam of ESG” and against “Wall Street’s asset managers who continue to abuse their position in the market to advance radical ideologies."
Heritage Action Executive Vice President Ryan Walker commended Texas for combating the dangerous ESG movement, calling the divestment “a win for hardworking Texans who care about their savings”:
“ESG investing fails Americans by ignoring fiduciary responsibility, economic freedom, and prosperity in the name of social justice and climate extremism.
“BlackRock’s adherence to ESG in Texas punished some of the state’s key industries and laundered Texans’ hard-earned savings into Left-wing political priorities—against their will. Texas’ $8.5 billion divestment from BlackRock is a major victory in the fight against ESG and a win for hardworking Texans who care about their savings.
“As the ESG movement infiltrates corporations and threatens Americans’ finances, it’s more important than ever for lawmakers to ensure that asset managers are following through with their fiduciary responsibilities.”
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