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In the universe of global power brokers, there is none bigger than BlackRock. Maybe the only good thing you can say about BlackRock is it is based in the United States. Church Militant's Kristine Christlieb draws back the curtain on the company pulling the global financial levers.
In 2019, multinational investment firm BlackRock had $6.8 trillion in assets under management. Within two years the company has grown 28% and now manages nearly $10 trillion, making it the largest asset management firm in the world. Despite its power, BlackRock isn't on the radar of most Americans the way Google or Apple are.
In recent months, the company has begun buying up single-family homes, driving up the cost of housing.
Tucker Carlson, host of Tucker Carlson Tonight: "We're not watching a conventional housing market. [It looks like] there's something else going on, and in fact, there is. The Wall Street Journal, in a recent piece, found that private equity firms like BlackRock are purchasing entire neighborhoods of single-family homes and turning them into rentals."
The company is also pushing the Left's political agenda by refusing to invest in firms with low "ESG" ratings. Just as individuals have a credit score, companies have an ESG score, which stands for their ability to manage environmental, social and governance risks.
Recently, fake-Catholic Joe Biden was begging OPEC to produce more crude while Exxon was dropping several drilling projects because BlackRock used its power to remove directors and replace them with their picks.
While BlackRock's focus on environmental sustainability and profits pushes up housing and gasoline prices for average Americans, the company is also getting into bed with the nation's chief economic rival — China. In September, BlackRock became the first foreign-owned company to operate in China's growing mutual fund industry.
This is not good news. If powerful American companies like BlackRock are tied to China, it is more likely the communist nation will be able to influence our politics and foreign policy. Back in 2008, the Fed tapped BlackRock to help manage the TARP funds that bailed out the too-big-to-fail financial institutions.