No Bailout for BlackRock!

Jerome Powell: Don’t let BlackRock use taxpayer money to bailout weapon companies

The world’s largest investor in weapons and oil companies, BlackRock, has been tapped by the U.S. Federal Reserve to help bailout the U.S. economy during the global pandemic. BlackRock promotes a roughly 3 billion dollar defense fund locked and loaded full of weapons made by Lockheed Martin, General Dynamics, Raytheon, Northrop Grumman, and Boeing defense. BlackRock and weapon companies stand to benefit from the current economic crisis


The weapons from these companies are used in military strikes around the world, resulting in the deaths of innocent civilians and the destruction of the environment. These companies lie at the brutal heart of the military-industrial complex. In supporting them, BlackRock and its shareholders are making huge profits off of global suffering. We cannot allow BlackRock to continue to go unchallenged about its war profiteering.

BlackRock maintains significant stakes in weapons companies such as General Dynamics, General Dynamics is a prime example of a company profiting from those who are suffering. The military contractor has taken a government contract to provide “social services” to migrant children held at U.S. detention camps

It is unconscionable that the Feds hired a company that does business with the murderous Crown Prince of Saudi Arabia, who is responsible for leading a war on Yemen, imprisoning women’s rights activists, and ordering the murder of Washington Post columnist Jamal Khashoggi. Additionally, BlackRock is back-peddling on its climate change commitment to hold companies to account if sustainable goals are not disclosed. Instead of the U.S. government granting BlackRock a seat at the bailout table, a long-term plan needs to be crafted to build a green and peaceful economy. Average Americans are struggling and speaking out about how the government is choosing “money over morality.”  

Not only is BlackRock working with the Feds, but it is also helping the Bank of Canada with its bailout. Even the President of Mexico, Andres Manuel Lopez Obrador, had to get in on the action. He tweeted a photo of BlackRock CEO Larry Fink appearing on videoconference. Most recently, BlackRock won a contract to help the European Union develop new environmental guidelines for banks—this choice has our heads spinning because BlackRock is the largest financier of unclean energy in the world. WTF!

Even though the Feds made a poor decision in putting BlackRock at the helm of three U.S bailout programs, we can still demand that our taxpayer money be used to bail out the people and not the weapon and oil companies.

Sincerely,

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