By Ricardo Lezama The company inflated the value of properties by buying up residential and multifamily homes. Investments are also tied to despicable regimes in Latin America and divisive politics in the United States. Apparently, most people have a hard time dealing with that!
What is Blackrock in the first place?
Blackrock is an investment management company headquartered in New York City. It is the world’s largest asset manager, overseeing trillions of dollars in assets through its proprietary exchange traded funds, mutual funds, and other investment vehicles. The firm has over 17,000 employees across six continents and specializes in investment strategies such as fixed income, equity, alternative, and multi asset class investments. Blackrock also provides corporate services in areas such as risk management, portfolio construction, and financial technology. Aside from its regular investors, Blackrock also provides services to institutional investors such as governments, corporations, and not-for-profit organizations. The firm is led by its Chairman and CEO, Larry Fink, who has been credited with transforming the organization into a global powerhouse.
Mexico Corruption in EPN Administration
Historically, BlackRock Inc. bets on everything you hate, and it looks like they’re winning. The US-based firm is deeply embedded in the global economy, and while in 2016 it was managing over 2.4 trillion dollars in equity that figure has likely multiplied several times over because of the pandemic and inside track to privileged information the firm receives from US officials.
Blackrock has large stakes in private prisons and oil wells, as well as the Dakota Access Pipeline and other related projects that have inspired controversy. Despite his anti-establishment rhetoric, Trump’s victory has made BlackRock’s investments more valuable, as it allows the company to benefit from his proposed racist policies. Unfortunately, during Enrique Peña Nieto’s government, local Mexican private investors aligned were dependent on these firms, meaning Mexicans are stuck on the wrong end of a vicious investment cycle.
Privatization in Mexico Blackrock Inc. ($BLK) agreed to purchase oil wells in PEMEX’s first rounds of oil auctions in March of 2015
In July 29, Mexico’s despotic president, Enrique Peña Nieto, met with Blackrock Inc. CEO, Larry Fink, to discuss financing privatization projects in Mexico City. By October of 2015, the projects for natural gas transport were set in motion. Blackrock Inc. Mexico executives also sit on the board of PEMEX, the state-run oil company. The last meeting between EPN and BlackRock Inc was held at or near the St. Regis when his NYC visit was met with large protests.
The Trump victory in the United States not only places the Mexican government in a defensive position, but also makes Blackrock Inc.’s investments potentially more valuable to the Mexican government looking to maintain its standing in global capital markets. This makes Blackrock Inc. the real winner regardless of the supposedly anti-establishment tone of Trump’s campaign: deportation orders mean more business for CXW US. Also, an embattled Mexican government incapable of dealing with Trump’s aggressive administration will be more willing to capitulate to foreign direct investment for crummy short-term investment.