Consumer Warning exposes BlackRock and Fink’s tie to the Chinese Communist Party >>

Meet BlackRock CEO Larry Fink

Larry Fink Loves China

• Larry Fink has stated that China is one of the biggest opportunities for BlackRock over the long term.
• Fink has lavished praise on China as he attempts to build BlackRock’s business there, extolling the Chinese government for lifting much of its population out of poverty.
• Larry Fink helped the Chinese Communist Party during the U.S.-China trade negotiations in 2019.
• Under Larry Fink, BlackRock is investing in surveillance companies used by the Chinese military.
• During a Bloomberg TV appearance, Larry Fink once stated that “markets like actually totalitarian governments” as they bring stability and Democracy is messy.
• According to Larry Fink, he is “a globalist and I’m proud of it.”
• Learn more at BlackRockLovesChina.com.

Larry Fink Goes Woke

• Larry Fink believes that companies need to do more to address social issues, calling for an increase in corporate action on issues like the environment and racial inequality.
• Larry Fink has threatened the pay of his executives if they fail to meet diversity targets.
• Larry Fink expressed a willingness and desire to use its holdings within companies to force them to take more climate friendly positions or actions.
• According to news reports, some company executives “believe that Fink is now instituting hiring quotas at BlackRock.”

Larry Fink Takes Advantage of Others Misfortune

• Larry Fink exploited the 2008 recession to build BlackRock’s business, with Bloomberg reporting that it “may never have grown as far and as fast as it did without the unprecedented changes brought about by the recession.”
• Larry Fink was instrumental in popularizing mortgage-backed securities, with CNN reporting that “[he] helped popularize the same mortgage-backed securities that nearly poisoned the banking system.”
• Business Insider has described Larry Fink as one of the masterminds behind the subprime mortgage market.
• Larry Fink is looking to profit once again from our economic downturn, as BlackRock engages in sweetheart deals with the Federal government over their COVID-19 economic stimulus.
• Larry Fink has entered BlackRock into lucrative agreements with the Federal government during the COVID-19 economic downturn as the company helps manage the Federal stimulus efforts.

Larry Fink’s Controversial Resume

• Larry Fink has a net worth of $1.2 billion, according to public reports.
• Early in his career, Larry Fink was known for taking overly risky positions.
• In a humiliating episode in the late 1980’s, Fink was fired from First Boston for losing $100 million when he wrongfully predicted interest rates would rise.
• According to Vanity Fair, “On Wall Street, the end of Fink’s career at First Boston is recalled as one of the more spectacular and humiliating ‘flameouts’ on record. ‘Public and really awful,’ recalls one top financier.”
• Larry Fink and BlackRock have faced allegations of corruption over its relationships with politicians in Mexico and how it exploited those relationships to expand its infrastructure business there.
• In early 2020, Larry Fink and BlackRock became embroiled in French President Emmanuel Macron’s controversial campaign to overhaul the French economy.
• Protesters stormed BlackRock’s French headquarters to denounce the company as criminal.
• Macron’s reform efforts, supported by Fink, collapsed in the wake of the COVID-19 crisis.

BlackRock C-Suite Troubles Go Beyond Larry Fink

• Mark Wiedman is the Head of International and Corporate Strategy at BlackRock and is widely seen as a close protégé of Larry Fink.
  • In the new role, Wiedman was tasked with “helping lead a more aggressive push into markets overseas including China.”
  • The New York Times reported how “for years, [Wiedman] and Mr. Fink have been pitching insurance companies and pension funds to stop buying individual bonds (from the likes of Deutsche Bank) and instead choose a BlackRock bond E.T.F.”
• While reporting directly to and maintaining a close relationship with Fink, Mark Wiedman was accused of sexually inappropriate and harassing conduct.
  • Institutional Investor reported on several instances where Wiedman asked female employees at work dinners what type of underwear they were wearing.
  • Bloomberg reported that Wiedman asked female employees about their “weirdest” dreams at these dinners.
• Philipp Hildebrand, now Vice Chairman of BlackRock, was formerly the Swiss Central Bank Chief, but was forced to resign from the bank in scandal over insider trading allegations.
  • REUTERS: “Hildebrand’s wife Kashya, a former hedge fund trader who now runs a Zurich art gallery, bought 400,000 Swiss francs ($418,000) worth of dollars on August 15, three weeks before her husband oversaw steps to cap the rise of the safe-haven franc. She later sold the dollars at a higher rate.”
  • THE GUARDIAN: “Switzerland’s central bank was embroiled in an insider trading scandal after bank chief Philipp Hildebrand was accused of speculating on currency transactions only weeks before he instituted dramatic policy changes that shifted prices in his favour. The accusations, which have rocked the Swiss banking industry, were made by Swiss weekly newspaper Die Weltwoche in a statement before its Thursday publication. It said that previous reports that Hildebrand’s wife was responsible for the foreign exchange transactions were misplaced and it was the bank chief who was behind the purchase and selling of currency that triggered an investigation by the Swiss National Bank (SNB).”
• In 2020, a Swiss regulator banned an unnamed former head of a Swiss bank from financial activities over a serious case of insider trading and confiscated $754,522 in unlawful profits.
  • The individual involved had used his wife’s account to trade on sensitive market information.
  • While the regulator did not name the individual, there are similarities to the situation with Philipp Hildebrand and his wife.
• In 2021, Hildebrand was under consideration to lead the Organization for Economic Cooperation and Development before dropping out of consideration.
  • His candidacy focused on achieving a “fair transition” to net zero climate policies, international cooperation and working to address social inequalities.
  • The Financial Times reported many officials were “very disturbed” by his candidacy, given the organization’s role in ethical capitalism and corporate governance.
• Rob Kapito, President of BlackRock, was involved with a controversy regarding a property he and his wife purchased in Sag Harbor Hills, claiming it was contributing to rising prices that were pricing out African Americans in the community.
  • Many local residents complained that wealthy, white Americans, like Kapito, were slowly pricing African American’s out of homes in the community, which was founded in the 1950’s for middle class African Americans.
  • In 2016, more than a dozen residents complained to the Board of Historic Preservation and Architectural Review about the Kapito’s planned project.
  • After the uproar, the project was scrapped and the Kapito’s went on to list the property for sale.

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