All the Trips to Davos Have Gone to Larry Fink’s Head, by Scott Shepard

Posted on July 29, 2022 | Leave a comment

Larry Fink is the epitome of the rich, egotistical megalomaniacs who think they’re entitled to run the world. From Scott Shepard at realclearmarkets.com:

All the Trips to Davos Have Gone to Larry Fink's Head
Evan Agostini/Invision/AP

Larry Fink really has let all of those trips to Davos go to his head.

In what is, so far as I know, the BlackRock CEO’s most recent act of public grandiloquence, he and BlackRock have urged the Securities & Exchange Commission (SEC) to modify its proposed greenhouse-gas emissions disclosure rule.

That standard Fink megalomania comes not from the request itself, but from its grounds. He does not ask that it be withdrawn because it is illegally beyond the SEC’s statutory remit, though it surely is, especially in light of a recent U.S. Supreme Court ruling. He doesn’t seek its withdrawal because it will create massive expense for no possible benefit, though that’s true too. He doesn’t even oppose the rule because it will harm small farmers, small businesses and small investors while aggregating wealth and opportunity to his own private-equity class. (Well, no: of course not that.)

Rather, Fink’s objection to the rule is that it deviated from the disclosure demands that have issued from him – from him and from Mike Bloomberg and from the self-appointed New Ruling Class – embodied this time as the Task Force on Climate-Related Financial Disclosures (TCFD). These new malefactors of great self-regard, you see, don’t care for it when representatives of elected government dare to contradict the commandments of the World Economic Forum (WEF) set.

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