(FamilyConservationPAC.com) – According to Breitbart Economics Editor John Carney, the diversity, equity, and inclusion (DEI) agenda promoted by BlackRock, the largest asset management company in the world, is an instance of “the Chinese social credit system applied at the corporate level to America.”
Carney was questioned over statements by BlackRock CEO Larry Fink in 2017 regarding his company’s efforts to “force change.” Sen. J.D. Vance (R) of Ohio tweeted the video of Fink’s remarks, which he made at a New York Times DealBook conference, on Monday and called BlackRock’s actions “illegal and immoral.”
Fink says in the 2017 video, “Well, behaviors will need to change, and this is one thing we’re asking firms to do. You must compel actions. And at BlackRock, we are forcing behaviors.”
“If you don’t accomplish these levels of effect, what we’re doing internally is that your compensation could be impacted,” Fink said.
“Therefore, you just have to enforce behaviors. And if you don’t enforce behaviors—whether it be about gender, ethnicity, or any other aspect of your team’s makeup—you will suffer.”
Fink stated in the video that “change will have to be forced.”
There are two schools of thought within the GOP on Blackrock. The old guard thinks they’re creating value and need to be rewarded with tax cuts.
I think they’re destroying value and are engaged in illegal and immoral conduct. They need to be dealt with accordingly. https://t.co/VABmXiCyUh
— J.D. Vance (@JDVance1) June 5, 2023
Due to Vance’s criticism, Carney claimed that BlackRock attempted to retract Fink’s remarks from 2017.
“Black Rock is attempting to retreat,” according to Carney. “They claim that this item is really old. In 2017, we had this perspective on the situation. We truly don’t want to do it. And still, they do.”
“This is the Chinese social credit system applied at the corporate level to America,” Carney said. “Corporate CEOs feel pushed to adopt the proper social, diversity, equity, and inclusion policies since one of the largest investors in the world has made it clear to them that this is what they are concerned about.”
Sean Duffy’s “Bottom Line” co-host Brian Brenberg pointed out that environmental, social, and governance (ESG) projects allow woke activists to impose their controversial agenda outside the political system.
“This stuff would never pass if legislators had to vote on it,” Brenberg said. “So, corporations carry the water or the government bureaucracy does it behind the scenes through regulation. But either way, it happens to people without them ever getting a chance to raise their hand and say, hey, we don’t want this.”
“In any case, though, it affects people without giving them an opportunity to raise their hands and object.”
“Additionally,” Carney pointed out, “the people whose money BlackRock is investing haven’t explicitly stated that’s what they want. And that’s one of the reasons BlackRock tried to walk this back more recently – they recognized they had drifted too far to the left of the American people, and they need the Americans. Because they manage people’s retirement assets, they are the largest asset manager.”
“The business will run into difficulty if individuals start saying, “Wait a minute, I don’t want you pushing this far-left agenda on America. Give me my money back.” They are therefore attempting to escape from this.”
Dagen McDowell, the host of Fox Business, joked about how it seemed hypocritical for a white man like Larry Fink, the head of the world’s most influential asset management company, to talk about “forcing” diversity.
“Why haven’t you stepped aside, Lar, if you’re going to force this — what is it, environmental, social, and corporate governance — if you’re going to force it on people?” She joked.
Carney pointed out that BlackRock takes the idea of keeping track of every other company’s DEI and ESG compliance somewhat and enacting sanctions for those it finds too behind.
According to Carney, they are also quite interested in what he said regarding scorecards. “In other words, they’re genuinely maintaining extremely close tabs. How successful have you been in promoting an environmental cause? How well have you promoted the DEI agenda? Additionally, you can lose out on potential investments if your score isn’t good enough.”
Brenberg then questioned Carney about how businesses celebrate Pride Month, stating that despite the Middle East is a place where LGBTQ people are subjected to human rights violations, many major corporations have just attached pride flags to their U.S. Twitter accounts.
“Is this a fundamental problem? Or is it just a matter of money? Brenberg asked. “Let me explain the basic idea. The fundamental idea is to embrace the ruling system,” Carney said.
“So, at the moment in America, woke businesses like BlackRock and others see the ruling class as being on the far left. They declare that they will obey the sheiks when they travel to Saudi Arabia. They adhere to the works in America.”
“This place has a system. It’s certainly not hypocrisy. There is only one rule,” he said. “These people are following the powerful, and that is what it means to obey them.”
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