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S01E111: Two In The Fink
Freaks of Hazard:
SirMani has set up a new monthly of $6.66!
Qwaffy Von Dustbubble is also here with their $3.33 monthly!
SirCrossStitch ALSO has a monthly contribution of $5.33!
SirCandinavian came in midshow with a titular $111.11! VERY COOL.
BTS will be live following NA on Aug 21st at 4:30pm ish central! Sweeeeet! The following Monday, on August 22nd, we will have our first official movie night! It’s been decided, but maybe we’ll keep the title a surprise till that Sunday….hmmmmmm…..all that action will take place here! https://itm.my.to/r/BTS-MovieNight
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With $12 Trillion and the US Government at his back, Larry Fink manipulates the the global economy in the name of social justice. Through his company BlackRock, the world’s businesses are forced to play by his rules… or else…
The Ten Trillion Dollar Man FINAiUS 218K subscribers
Bill Gates, Larry Fink on Clean-Energy Push - Bloomberg
Laurence Douglas Fink (born November 2, 1952) is an American billionaire businessman. He is the chairman and CEO of BlackRock, an American multinational investment management corporation. BlackRock is the largest money-management firm in the world with more than US$10 trillion in assets under management, giving the firm enormous power over the global financial system. In April 2022, Fink's net worth was estimated at US$1 billion according to Forbes Magazine. He sits on the boards of the Council on Foreign Relations and World Economic Forum.
Fink 1 - Beginnings and SMB
Fink 2 - Rise and Fall at 1st Boston
Fink 3 - Steve Schwarzmen - Co-Founder of Blackrock - Skull and Bones
Fink 4 - PNC Buys Out Schwarzman
Billy 1 - He’s Dead
BA in Political Science 1974, MBA in Real Estate by 1976
Fink Works for and Gets Ousted from First Boston
Starts BlackRock in late 80’s under Blackstone with Peter Schwarzman
Ousts Schwarzman by getting PNC to buy him out
Pulls funny money game with Mortgage-Backed Securities for GE, makes billions
Established reputation as the CMO guy
The U.S. government contracted with BlackRock to help clean up after the financial meltdown of 2008. Although BlackRock is widely believed to have been the best choice for the cleanup job, Fink's longstanding relationships with senior government officials have led to questions about potential conflict of interest regarding government contracts awarded without competitive bidding. BlackRock's contract allowed Fink to cultivate relationships with Obama's first Treasury Secretary Tim Geithner and additional members of the Obama economic recovery team. In 2016 Fink hoped to become part of the federal government himself as Hillary Clinton's Treasury Secretary. At the same time, Blackrock hired many former executive branch appointees to its firm including Cheryl Mills, Christopher Meade, Katheryn Rosen, Michael Pyle, Coryann Stefansson, Gary Reeder, and Ken Wilson. This move strengthened BlackRock's revolving door with the federal government.
In December 2009, BlackRock purchased Barclays Global Investors, at which point the company became the largest money-management firm in the world. Despite his great influence, Fink is not widely known publicly, apart from his regular appearances on CNBC. BlackRock paid Fink $23.6 million in 2010, and $36 million in 2021. By 2016, BlackRock had $5 trillion under management, with 12,000 employees in 27 countries.
Today it manages roughly $12 Trillion of Assets.
According to DW, “While it is not clear what concrete moves BlackRock is willing to take, they do seem to mean business: "In the $1.7 trillion in active funds we manage, BlackRock can choose to sell the securities of a company if we are doubtful about its strategic direction or long-term growth," wrote Fink, adding that BlackRock is in the process of growing its investment stewardship team which works with index investors to build business plans that harness long term goals.”
THE AGE OF MK
Brings up IBM, and ESG’s. Cool conversation as always when discussing the Salem Witch trials. There’s some cringey moments ala when Rogan had both Alex Jones and Tim Dillon on where Rogan had Jamie fact check the guest every step of the way. One of these back and forth’s involves the origin of the term fossil fuels. There’s also the space bukkake bit about asteroids.
Serge Quadrado - Sport Surf
Titanik - Pinball Lizard
Yankee Doodle - The 97th Regimental String Band
Shaolin Dub - New-World-Order