Post

@BlackRock

@BlackRock

@BlackRock

@Unilever

@BlackRock

@BlackRock

@BlackRock

@Unilever

@Unilever

@Unilever

More from @WillHild

Will Hild

@WillHild

Nov 18

🚨 JUST IN: @BlackRock's entire core business may be in jeopardy...

CEO Larry Fink is panicking at the prospect of re-engineering large portions of his indexing business — which is both the company's largest source of revenue each year and his largest source of power in advancing his far-left political agenda.

I'll explain 🧵

Roughly every 3 years, @BlackRock is required by law to apply for "blanket authorization" from the Federal Energy Regulatory Commission (FERC) to acquire and hold over $10 million (and/or 10% ownership) in voting shares of multiple public utilities. These authorizations are required to ensure that one rogue financial entity cannot exert undue influence over energy markets.

Without this authorization, @BlackRock cannot run massive portions of their indexing business because these public utilities are critical components of various indexes (like the S&P 500, Russell 3000, etc).

In short, if they can't buy shares of utility companies, they cannot truly offer the index.

.@BlackRock is currently in the process of re-applying for "blanket authorization" from FERC.

Last week, both @ConsumersFirst and 19 state Attorneys General filed motions with FERC, seeking to bar @BlackRock from receiving this authorization, unless the commission can investigate and ensure BlackRock will not use their large (and growing) ownership in public utilities to advance Larry Fink's far-left political agenda.

Read 4 tweets

Will Hild

@WillHild

Aug 30

🚨 A little-known group out of Washington, D.C. — that boasts many Fortune 500 CEOs as members — is quietly working behind-the-scenes to help force ESG and DEI onto corporate America.

Meet Business Roundtable 🧵

More than 200 CEOs are members of @BizRoundtable — with the industries represented spanning from major banks, like @BankofAmerica, to farm supply companies, like @TractorSupply.

In boasting about their reach the organization claims that their members support “one in four American jobs and almost a quarter of U.S. GDP” and that “through CEO-led policy committees, [they] develop and advocate directly for policies…”

The members of this group, when acting in coordination, hold significant market power — the companies represented account for *half of the value of all publicly traded companies* in the U.S., with a total value estimated at over $20 trillion.

And they’ve recently shifted their focus from upholding fiduciary duty to @BlackRock CEO Larry Fink’s “stakeholder capitalism.”

Read 7 tweets

Will Hild

@WillHild

Jul 25

🚨 REPORT: In a newly amended class-action lawsuit, infamous "stablecoin" company @Tether_to and crypto exchange @Bitfinex are being accused of engaging in a "sophisticated scheme" to artificially inflate the price of cryptocommodities.

The lawsuit alleges that the $USDT issued in this scheme did not have the 1-to-1 US dollar backing, as @Tether_to claims, and instead was backed by IOU's.

This created a *massive* redeemability risk.

@Tether_to The plaintiffs claim that this risk was compounded further because @Bitfinex, allegedly, also did not have sufficient reserves to cover these "receivables" — so they allegedly commingled customer funds, operating funds, etc to mask this fact.

Read 8 tweets

Will Hild

@WillHild

May 3

The World Economic Forum (WEF) held a "Special Meeting" this week to discuss, among other things, how to continue advancing ESG globally, in the face of increased backlash & rising geo-political tensions.

@BlackRock CEO Larry Fink and his "friends" had quite a lot to say...

🧵

The discussion we'll focus on kicked off with Salman Rahman, a Bangladeshi businessman and government official, saying a "restructuring" of "the global order" is required to achieve the WEF's goals:

William Ford, Executive Chair of the Ford Motor Company and great grandson of Henry Ford, then explained what the cost of achieving the WEF's ESG goals would be:

Roughly $6 trillion, annually.

Read 5 tweets

Will Hild

@WillHild

Apr 8

JUST IN: We've found proof that @BlackRock lied in their letter to the Texas Permanent School Fund, following the fund's divestment of $8.5 billion...

You'll want to see this 🧵

I thought it was *highly unlikely* that @BlackRock wasn’t given any notice that they were at risk of being fired, as they've claimed.

So, I watched 6 hours of footage of the fund's last two public board meetings. And, I know this won't shock anyone, but BlackRock lied...

@BlackRock To recap: in their terse letter responding to the $8.5 billion divestment by the TX PSF, @BlackRock claimed that “the process by which this decision was reached remains unclear to the public.”

Read 11 tweets

Will Hild

@WillHild

Mar 26

The arguments made by @BlackRock in their letter attacking the Texas Permanent School Fund's divestment of $8.5 billion are complete nonsense...

Let's break them down 🧵

Quick review:

Last week, the Texas Permanent School Fund divested $8.5 billion from @BlackRock index funds over their continued prioritization of ESG over fiduciary duty.

In response, BlackRock sent a letter attacking their former client (how classy of them). The letter is full of lies, inaccuracies and intentionally misleading omissions.

Their first and primary point is how much money they've made over and above the pension funds benchmark. This sounds nice, but, in truth, it’s irrelevant.

The fund’s benchmark is simply a conservative prediction of how the market will perform, so they can plan their spending accordingly.

It tells us nothing about how @BlackRock funds performed *against similar alternatives*.

Which I can say, without hesitation, is a $0 difference.

Read 13 tweets

Share this page!

Enter URL or ID to Unroll

Will Hild

Try unrolling a thread yourself!

More from @WillHild

Will Hild

Will Hild

Will Hild

Will Hild

Will Hild

Will Hild

Did Thread Reader help you today?

Don't want to be a Premium member but still want to support us?

Send Email!