Why Blackrock's Larry Fink Should be Fired

Monday, September 25

Another state treasurer is taking on ideologically-captured Wall Street firms. Dale Folwell of North Carolina is publicly calling for Larry Fink to be fired because he is isn't doing his job. The job of asset managers is to manage assets, to put the financial returns of investors above all else. But what happens when the "invisible people…the people who work with their hands and their backs…the people who shower at the end of the day" lack the wealth and power to keep Wall Street firms from using their own money against their interests? Answer: the state officials whom they trust to look out for them should step up. Treasurer Folwell talks about how he has been fighting Blackrock and other entities that are politicizing finance, including rating agencies, which have been attacking local governments for not being politically aligned with the ESG movement. He also explains why he thinks that taxpayer money should not be going to elective surgery such as sex change operations, especially for minors. A video of oral arguments before Fourth Circuit can be found here: https://www.youtube.com/live/Cuc32k5BETw?si=aw89_bKII29Oz4ID  Don't miss the discussion about how unaccountable health care bureaucracies use lack of transparency to distort markets and take advantage of patients. https://www.shpnc.org/what-the-health/nc-hospital-price-transparency-report