In a recent interview on Fox Business Network’s “The Bottom Line,” Breitbart Economics Editor John Carney made a striking comparison between BlackRock’s diversity, equity, and inclusion (DEI) agenda and the Chinese social credit system. Carney referred to BlackRock’s efforts as an imposition of a surveillance-like system at the corporate level in the United States.
— The Bottom Line (@BottomLineFBN) June 6, 2023
His comments came in response to BlackRock CEO Larry Fink’s 2017 remarks on “forcing change” within companies. The video of Fink’s 2017 speech, given at a New York Times DealBook conference, gained attention after Ohio Sen. J.D. Vance (R) tweeted it, condemning BlackRock’s behavior as “illegal and immoral.”
Fink stated in the video that BlackRock would “force behaviors” and link compensation to achieving certain levels of impact in terms of gender, race, and team composition.
Carney highlighted BlackRock’s attempts to distance itself from Fink’s 2017 comments after facing criticism from Vance.
Despite BlackRock’s backpedaling, Carney argued the company’s influence still persists. He emphasized the pressure that corporate CEOs are put under to adopt the “right” environmental, social, and DEI policies due to BlackRock’s status as one of the world’s largest investors.
Guest host Brian Brenberg on “The Bottom Line” pointed out that DEI and ESG initiatives provide a means for woke activists to enact their agenda without going through the democratic process. Corporations and government bureaucracies implement these policies, bypassing the need for legislative approval.
Carney added that BlackRock keeps a scorecard of companies’ DEI and ESG compliance, potentially penalizing those that fall short of their extreme standards. The article also touched on the hypocrisy of BlackRock’s approach, particularly with a white man like Larry Fink, who leads the most powerful asset management firm, advocating for enforced diversity.
Fox Business host Dagen McDowell questioned Fink’s position, suggesting he should step aside if he intends to enforce such policies. Companies failing to meet their standards could face financial or legal repercussions.
The discussion then turned to corporate celebrations of Pride Month. Brenberg pointed out that some companies display pride flags on their U.S. Twitter accounts but not on their Middle East accounts.
Carney argued that corporations cater to the regime in charge, whether it is the far left in America or the sheiks in Saudi Arabia. He concluded that corporations comply with those in control and adhere to just one rule: obey the powerful.