A Wall Street Icon's Jerry Maguire Moment

BlackRock CEO Larry Fink Calls for an End to Corporate Treason

by Victor Epstein - Jan-17-2018
in Market Supremacy News

One of the most powerful men on Wall Street ignited a professional firestorm yesterday, by essentially calling for an end to class warfare and suggesting corporations should be good citizens as well as profit growth machines

BlackRock Chief Executive Officer Larry Fink, whose New York investment firm has $6.3 trillion in assets under management, was immediately pilloried by many of his peers in the financial sector for the compassionate tone of his annual letter to CEOs. Much like the Jerry Maguire character in the fictional film of the same name, who called for his fellow sports agents to take a legitimate human interest in their clients.

Fink is famous for being "out in front" of the crowd with his financial forecasting abilities, but the potential revolution he apparently sees on the horizon is not a call many of his peers are intellectually prepared to accept. Even when it means saving the very society which enriched them and has been so badly damaged by their "greed is good" mantra.

Unlike most of his critics, Fink is a self-made man from humble roots. The son of a California shoe salesman is now one of the most influential men in the U.S. financial sector with a $340 million personal fortune.

Whereas many of the fellow self-appointed "Masters of the Universe" attacking him have led far more sheltered lives. Their knowledge of the world outside the Country Club fishbowl is limited by their own isolation within our nation's privilege bubbles.

Just as it was for former Fed Chair Alan Greenspan, who infamously said markets could do a better job of policing housing fraud than government regulators prior to 2006. His indifference to the millions of families losing their homes to predatory lending and foreclosure fraud precipitated both the collapse of the U.S. housing market and the The Great Recession.

Foul Language


Get the news, commentary, and humor right to your inbox. Never miss another article.

Market Supremacy News

It’s Time to Expand #MeToo to the Rest of Us

Frat Boy Culture Doesn’t Just Hurt The Rich and Famous

The #MeToo Movement has put a laudable spotlight on the supremacist behavior of America’s toxic elites, but its focus on celebrity victims is an unfortunate extension of the Frat Boy Culture which plagues our faltering nation.

Runaway Capitalism Fueling Global Inequality

Jeff Bezos’ Wealth Surges to $106 Billion

If Jeff Bezos was a nation, his $106 billion personal fortune would place the orb’s wealthiest inhabitant squarely between the national economies of Ukraine and Morocco.

Dotard and Duchess Named Ugly Americans of the Year

Trump and Hillary Recognized for "Damaging Democracy"

Former presidential hopeful Hillary Clinton wasn't trying to get Donald Trump elected when she identified the wealthy huckster as her preferred opponent in 2016, any more than John McCain was trying to put Sarah Palin in The Oval Office by naming her his running mate in 2008.

When Liberals and Conservatives Collide

Pharma Bigshot Called Out on Knowing Lie

I met a manager from Pfizer Inc. at a social gathering this weekend and was amazed when this self-described conservative tried to casually hoodwink our little group into believing his predatory employer is good for America.

Roy Moore Loss Makes Korean War More Likely

As Trump Looks to Lift his Fading Popularity

Many of my fellow Progressives seem to think Alabama’s narrow rejection of Roy Moore yesterday was some kind of victory for decent Americans, but I don't see it that way.

How to Keep Sex Abuse Exposes From Turning Dickish

Allure of Identity Politics Threatens to Criminalize All Men

There are two certainties in the United States of America right now, and they’re not death and taxes.  The first one is that our idiot president will say or do something which undermines our nation’s fitness for global leadership every day of his country club life.

Pew Study: Hate Down, Trump Down

Americans Tuning Out Crazy Uncle Donnie

Americans turned away from Crazy Uncle Donnie and the politics of hate in the new Political Typography Study released Tuesday by the Pew Research Center.

The End of Freedom and Democracy

American Dream Slain By Corporate Greed

Why does the United States have an opioid crisis? Same reason we have a food safety crisis and are besieged by foreign and domestic terrorists. These sacrifices are necessary to grow Wall Street profits in a nation where democracy, free speech, worker rights, and our free press have been subverted by corporate oligarchy.
See All Market Supremacy News


Get the news, commentary, and humor right to your inbox. Never miss another article.

Satire & Humor

Liberal News Site Lays Off 21 Male Staffers

Headcount Reduction Triggered by Eyeball Fucking

http://press.cynicaltimes.org/wp-content/uploads/2017/12/Aussie09.jpg The Cynical Times, a left-leaning news and satire website, laid off virtually its entire male reporting staff Friday in a nod to the new norms of inherent male criminality and identity politics.

Bryan Power Named Cynical's Token Wingnut

Libertarian's Role is to Ignore Facts and Be Irritating

http://press.cynicaltimes.org/wp-content/uploads/2017/12/power.jpg I used to frequent a crowded halal butcher shop in Northern New Jersey which specialized in freshly slaughtered chickens and goats.

Killing Santa: Navy Seals Splatter Fat Man in Red

Trump Ordered Arctic Strike to Avenge Years of Coal

http://press.cynicaltimes.org/wp-content/uploads/2017/08/58734.jpg President Donald Trump announced late Sunday that Kris Kringle, the terrorist leader who put coal in his Christmas stockings, was killed in a pre-dawn firefight in the Arctic.

God Admits Mistakes, Regrets Past Failures

Turns Out He's Not Perfect, All-Knowing or All-Powerful

http://press.cynicaltimes.org/wp-content/uploads/2017/11/god.jpg God expressed regret for his failure to prevent genocide, natural disaster, poverty, war, child abuse, and the Trump Presidency on Thursday, acknowledging for the first time that he is not actually perfect, immutable, all-knowing or all-powerful.

U.S. Lawmakers to Introduce Robotic Citizens

Artificial Intelligence to Replace Class Warfare "Losers"

http://press.cynicaltimes.org/wp-content/uploads/2017/11/kat1.jpg Congressional Republicans and Democrats announced a tentative agreement Thursday to replace poor and middle class Americans with robots and artificial intelligence (AI) by 2020.

See All Satire Stories


South Korea Needs to End U.S. Military Alliance

It’s the Best Way to Block Trump’s Needless War

Victor Epstein
Painful Truths by Victor Epstein
My personal invasion of North Korea ended with a steaming plate of bulgogi, an ice cold bottle of OB Beer, and a Cuban cigar in 1998.

How to Save America’s Free Press

… And Why Facebook is the Napster of the News Industry

Victor Epstein
Painful Truths by Victor Epstein
As a journalism lifer nothing grinds my gears more than when some well-paid sellout in public relations starts opining about what needs to be done to save America’s faltering free press.
See All Columns


Get the news, commentary, and humor right to your inbox. Never miss another article.