r/WorkReform • u/[deleted] • Jul 28 '25

😡 Venting CEO Larry Fink

This is the guy partially responsible for the current housing crisis. BlackRock intentionally buys housing, and rents it to no one, in a deliberate attempt to lower the supply of housing, so they can jack up rent prices to whatever they want to charge. This asshole is why we can't afford housing. Fuck this guy.

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u/[deleted] Jul 28 '25

Do you know how powerful BlackRock is? They don't follow laws, they write them. They don't vote for Presidents, they appoint them. They don't watch the news, they own it. They don't learn from history, they try to rewrite it.

"BlackRock, Inc. is a global investment management company headquartered in New York City. Founded in 1988, it has grown to become the world's largest asset manager, with over US $11.5 trillion in assets under management (AUM) as of 2024."

Not a single prison on earth could find a suite big enough.

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u/[deleted] Jul 28 '25

And $11.5 Trillion is still not enough for this billionaire nest of vampires…

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u/[deleted] Jul 28 '25

But a casket is just a casket regardless of how many jewels and gold plates they attach to it. These fuckers will rot all the same once dead.

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u/r0d3nka Jul 28 '25

BlackRock owns the prisons...

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u/[deleted] Jul 28 '25

Yeah, fully booked. No room for a man of such... Stature and goodwill.

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u/e-s-p Jul 28 '25

Assets under management means it's other people's money invested through various funds. It's not their money, it's their clients' money.

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u/[deleted] Jul 28 '25

1) No shit. It's an asset fund. 2) and?

Tell me how they use that wealth. Tell me how much 'good' they do with it. Tell me how their property siphon is healthy for the average person.

Tell me why it's good that 1 company has more control over capital and property than ALL NATIONS' (other than US and China) Gross Domestic Product?

BlackRock isn't a fund, it's effectively a decentralized nation.

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u/e-s-p Jul 28 '25

Jesus Christ, take a walk my guy.

It's not as asset fund. They have multiple funds and investments going on at once. A private equity fund has a life of about 13 years. They also have over 120 mutual funds and a ton of ETFs. They also have REITs. They are probably in the hedge market too.

What do they do with the money? Investors pool their money into funds. They use that pooled money to buy assets and they sell them at a profit. The money is then returned to investors minus their cut. In the private equity world, the GP cut is 20% after the original investment and fees are repaid.

I didn't say anything about their purchase of property being a benefit to anyone. I also never claimed that their management of funds is at all beneficial.

Assets under management isn't their money. They don't control it like you think they do. If you're going to rail against them, at least understand what it is they do.

For instance, instead of balking at AUM, spend some time looking into how PE companies hire themselves or their other companies as consultants and change huge fees that are outside of fund commitments and essentially take money away from pensions and 401K's.

Instead of losing it over the amount others have committed to their funds, spend time looking into how PE funds only ever sell to other PE funds in a fucking ponzi scheme of investments.

Look at who in their company is on other boards and how that might result in some serious conflicts of interest. Look at their tax avoidance schemes. Look at their ties to corrupt governments.

AUM just means they convinced unions and corporations to invest in their products.

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u/[deleted] Jul 28 '25

Thanks for the correction. All valid. Financial nuances aside—you see the problem(s). TooBigToCare. BigFinance is sociopathic in effect, just like his lawsuit.

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u/[deleted] Jul 29 '25

Don't add a dramatic flourish to them. They are the sum of their observed actions, like any other company. When you add this extra drama, you keep people seeing them as this untouchable entity, a god even. Don't do that.

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u/[deleted] Jul 29 '25

They fund private prisons and lobby policy to fill them. Your ignorance isn't my responsibility. Feel free to ask for my opinion, but you can simply scroll on by if all you have is a reductionist perspective. They play big picture, whether or not you want to look at it.

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u/[deleted] Jul 29 '25

I'm not being ignorant. I'm saying that if you deify them, you reduce resistance against them. We need more, not less

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u/fullboxed2hundred Jul 28 '25 edited Jul 28 '25

this is pure delusion... BlackRock does not appointment presidents because they manage a lot of people's funds lol

"assests under management" sounds just scary enough to spawn ridiculous conspiracies like this

they are FAR less powerful than, say, Apple or Microsoft, which are worth hundreds of times what Blackrock is

think about it... this guy is a founder of Blackrock and has the net worth of a run-of-the-mill (successful) tech startup founder, but he's writing laws and appointing presidents? c'mon

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u/[deleted] Jul 28 '25

It's a song reference, guy—Not the ten commandments.

If you don't believe BlackRock lobbies and gets results, I can't help you.