BLACKROCK MONEY MANAGERS
“Remarkably, the Wall Street institution that may be the most powerful of them all is also among the least known.
BlackRock is the largest money management firm in the world. Its chairman, Laurence Fink, oversees more
money (about $4.5 trillion) than Germany .has GDP [Gross Domestic Product]. Fink regularly takes calls from governments and businesses from around the world seeking his advice and, as Susanne Craig reported in the [New York] Times in 2012, the company has exerted "enormous influence as a behind-the-scenes adviser to troubled governments" in places like Greece and Ireland. When seeking to analyze the health of a bank, the US Treasury Department often turns to BlackRock, leading a senior bank executive to call it (in an article in Vanity Fair) "the Blackwater of finance, almost a shadow government." Fink himself is worth more than $300 million and sits on the boards of many institutions, including NYU and the Museum of Modern Art. Nonetheless he and his company have managed to escape serious journalistic scrutiny.”
BlackRock is the largest money management firm in the world. Its chairman, Laurence Fink, oversees more
money (about $4.5 trillion) than Germany .has GDP [Gross Domestic Product]. Fink regularly takes calls from governments and businesses from around the world seeking his advice and, as Susanne Craig reported in the [New York] Times in 2012, the company has exerted "enormous influence as a behind-the-scenes adviser to troubled governments" in places like Greece and Ireland. When seeking to analyze the health of a bank, the US Treasury Department often turns to BlackRock, leading a senior bank executive to call it (in an article in Vanity Fair) "the Blackwater of finance, almost a shadow government." Fink himself is worth more than $300 million and sits on the boards of many institutions, including NYU and the Museum of Modern Art. Nonetheless he and his company have managed to escape serious journalistic scrutiny.”
Massing, Michael, ‘How to Cover the One Percent,’ The New
York Review, January 14, 2016, pp: 74-76.
