BlackRock’s woke capitalist vision is failing: here’s why

Corbett shows how public outrage at the unelected political power of asset managers has led to an investor backlash, with politicians and legislators taking steps against the “forcing of behaviors” which BlackRock CEO Larry Fink once trumpeted as his mission

The always engaging James Corbett has produced some of the most informative guides to the power of BlackRock – who together with second-placed Vanguard Group own a combined 15 trillion U.S. dollars of assets under management.

In this report I relate how Corbett argues for a fightback against BlackRock and the asset management giants like them, who use their power to shape the world regardless of public consent. His views are more than corroborated by the news which followed the release of his video.

Corbett’s September 21 presentation, “How to Defeat BlackRock,” followed up by his excellent, “How BlackRock Conquered the World,” begins with some very encouraging news about the fortunes of the global investment giants – and what can be done to stop them. Happily, this process is already underway.

Corbett shows how public outrage at the unelected political power of asset managers has led to an investor backlash, with politicians and legislators taking steps against the “forcing of behaviors” which BlackRock CEO Larry Fink once trumpeted as his mission.

According to Corbett, and a growing number of other sources, this pressure looks likely to force asset management giants like BlackRock out of the behavior business altogether.

READ: How Vanguard and BlackRock took control of the global economy

A faltering global agenda

The first piece of good news is that the brand of ESG (environmental, social and governance) is so toxic that not even BlackRock’s CEO wants to use it any more.

BlackRock, under the leadership of Larry Fink, has used its immense wealth for years to compel companies to adopt the ESG agenda, becoming the driving force of “woke” capitalism. Yet leveraging financial power to force social and political change in this way has led to a backlash – from the general public, from lawmakers – and from the financial sector itself.

Last December, the North Carolina State Treasurer Dale R. Folwell called for Fink’s resignation, threatening to withdraw over $14 billion in state funds from the investment firm. As The Daily Mail reported, Folwell said:

Fink is in ‘pursuit of a political agenda… A focus on ESG is not a focus on returns and potentially could force us to violate our own fiduciary duty.’

Though his company, BlackRock, has continued to rate businesses on the same criteria, it has removed almost every mention of the term from its communications.

Speaking in Aspen, Colorado, Fink admitted that the decision of Florida Governor Ron DeSantis to withdraw $2 billion in state assets managed by BlackRock had hurt the company. The ESG agenda advanced by BlackRock is so beleaguered, even its former champion will not speak its name.

The power of public opinion

What this shows, as Corbett argues, is a further piece of good news: that public opinion still matters. It is public knowledge of the unelected political meddling of BlackRock and others which has led to outrage – and to action.

As a result of extensive coverage – mainly from independent media – of the nefarious influence of his company, Larry Fink has faced sustained criticism for over a year. This in turn has led to the kind of legal and financial consequences which have made people like Fink think again.

READ: How Larry Fink uses ESG and AI to control the world’s money

This also shows why so much money is invested in propaganda, censorship and “narrative control.” Governments and corporations are afraid of a well-informed public, because such a public is very likely to demand they are held to account.

The case of BlackRock not only shows that what is in your mind can indeed matter, but also that the goliaths of globalism do not always win.

This is one reason for the ongoing information war, and the growing censorship-industrial complex. An informed citizenry has the power to hold the powerful to account. Taken together, public outrage can also move markets – and the money men who watch them.

I investigated some of the claims Corbett made about the financial world’s mounting unease with the involvement of BlackRock, Vanguard and other firms in pushing unelected political and social change. I found more cause for celebration than even Corbett himself would admit at the time.

Passive investments, legal actions

In further good news, mounting legal troubles have accompanied the practice of companies like BlackRock, Vanguard and State Street to leverage their enormous asset piles into social and political compliance engineering.

According to a June 2023 report from RIAbiz, an online journal for registered investment advisers (RIAs), BlackRock and Vanguard’s “fooling around” with ESG targets has left them exposed to prosecution.

The business of managing many assets is supposed to be “passive” – a legal term which means that companies such as BlackRock are prohibited from “exercising control” of the companies whose funds they manage.

Federal exemptions had been granted to these asset management giants, but their habit of forcing behaviors on issues such as carbon “net zero” and “diversity” has placed their capacity to do business in jeopardy.

In May of this year, BlackRock and Vanguard saw a legal challenge emerge, and one which not only deters investors, but may also lead to their being broken up.

As Oisin Breen reported on June 1:

Seventeen AGs moved on May 10 against BlackRock on the grounds that its climate-based activism and its pro-ethical, governance and social (ESG) stance make it an active investor, in breach of a FERC antitrust agreement.

The Federal Energy Regulatory Commission (FERC) is involved due to BlackRock’s – and Vanguard’s – holdings in domestic energy utilities. Breen continues:

Separately, 13 AGs filed a motion to block Vanguard from renewing its FERC exemption. They represent mostly energy-producing states like Texas, as do the 17 now pressing to have BlackRock’s exemption revoked.

Though Breen concluded that both firms had “won a reprieve” from immediate legal censure, the message appears to have been received.

Three months later, Fortune magazine reported:

Finance giants BlackRock and Vanguard – once ESG’s biggest proponents – seem to be reversing course.

Hitting the bottom line

The global business publication noted the legal complications of mixing finance with social, environmental and governance policies, saying:

It appears these strategic shifts are being driven by a combination of public backlash and a focus on their bottom lines.

Then, on October 23, leading U.S. insurance brokerage WTW reported that BlackRock, Vanguard and State Street had all seen significant drops in their total amounts of assets under management (AUM). BlackRock’s alone fell from over 10 trillion dollars to just over 8 trillion.

By October 31, Fortune returned with the verdict that BlackRock, Vanguard and State Street had all “turned against environment and social proposals… in a clear sign of backlash.”

Their report noted a “precipitous” fall in the support of all three asset giants’ commitment to these agendas – with BlackRock’s funding of “ESG” measures falling by over 30 percent from 2021.

Real world consequences

This is the delayed result of a reality which BlackRock themselves acknowledged – and one which drove much of the public disapproval – that the ESG agenda was an economic and social wrecking ball.

Remarkably, BlackRock itself admitted that its promotion of ESG, in the aggressive pursuit of net zero and diversity policies, had actually contributed to a severe economic downturn.

In its “2023 Outlook,” the asset giant said these initiatives had been a major factor in ending the decades-long period of prosperity in the West known as the Great Moderation.

READ: The End of Prosperity? How BlackRock manipulates the West’s economic downturn

Buycotts – not boycotts

In his video Corbett is frank about the limitations of individual consumer power. You cannot “access BlackRock directly,” as it is a management firm. You can, of course, withdraw support from the companies in which it and its fellow behemoths Vanguard and State Street have holdings.

Yet Corbett moves from boycotts of individual corporations to the intriguing concept of “buycotts.” What he means by this is “taking your money from the corporations and using it to build things you want to see.”

How realistic is this solution? Already, businesses are emerging to capitalize on growing public discontent with what is done with their money – without their consent or approval.

Changing our behaviors – for good

The investment platform Reverberate, for example, allows users to “Rate companies highly (over 2.5 stars) if they make your life better, or lower if they make your life worse.”

What is more, user feedback from the public will determine which shares it buys:

Our publicly-traded investment fund buys shares of companies whose average ratings are high and/or rising, and sells shares of those whose average ratings are low and/or falling.

On their website, Reverberate says:

This is our way of trying to align capital allocation with the interests of the general public, as estimated by us in a relatively unbiased, wide-reaching way.

The decline of the asset managers’ ESG agenda is a happy corrective to the damaging belief that nothing can be done about anything.

It shows how well-informed public opinion can lead to genuine change, and with some of Corbett’s insights, how we can move from complaint to constructive action in making a better world.

You can see Corbett’s entertaining case for countering the woke asset management giants here.

Related Topics:#BlackRockCEOLarryFink #FrankWright #HowToDefeatBlackRock #LifeSiteNews #WokeCapitalism

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The great policy challenge for governments in Canada in 2026

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Business

The great policy challenge for governments in Canada in 2026

Published on January 1, 2026

Todayville

From the Fraser Institute

By Ben Eisen and Jake Fuss

According to a recent study, living standards in Canada have declined over the past five years. And the country’s economic growth has been “ugly.” Crucially, all 10 provinces are experiencing this economic stagnation—there are no exceptions to Canada’s “ugly” growth record. In 2026, reversing this trend should be the top priority for the Carney government and provincial governments across the country.

Indeed, demographic and economic data across the country tell a remarkably similar story over the past five years. While there has been some overall economic growth in almost every province, in many cases provincial populations, fuelled by record-high levels of immigration, have grown almost as quickly. Although the total amount of economic production and income has increased from coast to coast, there are more people to divide that income between. Therefore, after we account for inflation and population growth, the data show Canadians are not better off than they were before.

Let’s dive into the numbers (adjusted for inflation) for each province. In British Columbia, the economy has grown by 13.7 per cent over the past five years but the population has grown by 11.0 per cent, which means the vast majority of the increase in the size of the economy is likely due to population growth—not improvements in productivity or living standards. In fact, per-person GDP, a key indicator of living standards, averaged only 0.5 per cent per year over the last five years, which is a miserable result by historic standards.

A similar story holds in other provinces. Prince Edward Island, Nova Scotia, Quebec and Saskatchewan all experienced some economic growth over the past five years but their populations grew at almost exactly the same rate. As a result, living standards have barely budged. In the remaining provinces (Newfoundland and Labrador, New Brunswick, Ontario, Manitoba and Alberta), population growth has outstripped economic growth, which means that even though the economy grew, living standards actually declined.

This coast-to-coast stagnation of living standards is unique in Canadian history. Historically, there’s usually variation in economic performance across the country—when one region struggles, better performance elsewhere helps drive national economic growth. For example, in the early 2010s while the Ontario and Quebec economies recovered slowly from the 2008/09 recession, Alberta and other resource-rich provinces experienced much stronger growth. Over the past five years, however, there has not been a “good news” story anywhere in the country when it comes to per-person economic growth and living standards.

In reality, Canada’s recent record-high levels of immigration and population growth have helped mask the country’s economic weakness. With more people to buy and sell goods and services, the overall economy is growing but living standards have barely budged. To craft policies to help raise living standards for Canadian families, policymakers in Ottawa and every provincial capital should remove regulatory barriers, reduce taxes and responsibly manage government finances. This is the great policy challenge for governments across the country in 2026 and beyond.

Ben Eisen

Senior Fellow, Fraser Institute

Jake Fuss

Director, Fiscal Studies, Fraser Institute

Business

How convenient: Minnesota day care reports break-in, records gone

Published on January 1, 2026

Todayville

MxM News

A Minneapolis day care run by Somali immigrants is claiming that a mysterious break-in wiped out its most sensitive records, even as police say officers were never told that anything was actually stolen — a discrepancy that’s drawing sharp attention amid Minnesota’s spiraling child care fraud scandal.

According to the center’s manager, Nasrulah Mohamed, someone forced their way into Nakomis Day Care Center earlier this week by entering through a rear kitchen area, damaging a wall and accessing the office. Mohamed told reporters the intruder made off with “important documentation,” including children’s enrollment records, employee files, and checkbooks tied to the facility’s operations.

But a preliminary report from the Minneapolis Police Department tells a different story. Police say no loss was reported to officers at the time of the call. While the department confirmed the center later contacted police with additional information, an updated report was not immediately available.

Video released by the day care purporting to show damage from the incident depicts a hole punched through drywall inside what appears to be a utility closet, with stacks of cinder blocks visible just behind the wall — imagery that has only fueled skepticism as investigators continue to unravel what authorities have described as one of the largest fraud schemes ever tied to Minnesota’s human services programs.

Mohamed blamed the alleged break-in on fallout from a viral investigation by YouTuber Nick Shirley, who recently toured nearly a dozen Minnesota day care sites while questioning whether they were legitimately operating. Shirley’s video has racked up more than 110 million views. Mohamed insisted the coverage unfairly targeted Somali operators and said his center has since received what he described as hateful and threatening messages.

A manager at the Nokomis Daycare Center in Minneapolis detailed "extensive vandalism" at the facility during a Wednesday news conference.

Manager Nasrulah Mohamed reported that the suspect stole important employee and client documents, an incident he attributed to YouTuber Nick… pic.twitter.com/71nNTSXdTT

— FOX 9 (@FOX9) December 31, 2025

“This is devastating news, and we don’t know why this is targeting our Somali community,” Mohamed said, calling Shirley’s reporting false. Nakomis Day Care Center was not among the facilities featured in the video.

The break-in claim surfaced as law enforcement and federal officials continue to expose a massive fraud network centered in Minneapolis, involving food assistance, housing, and child care payments. Authorities say at least $1 billion has already been identified as fraudulent, with federal prosecutors warning the total could climb as high as $9 billion. Ninety-two people have been charged so far, 80 of them Somali immigrants.

Late Tuesday, the U.S. Department of Health and Human Services announced it was freezing all federal child care payments to Minnesota unless the state can prove the funds are being used lawfully. The payments totaled roughly $185 million in 2025 alone.

Minnesota Gov. Tim Walz, under intensifying scrutiny for allowing fraud to metastasize for years, responded by attacking the Trump administration rather than addressing the substance of the findings. “This is Trump’s long game,” Walz wrote on X Tuesday night, claiming the administration was politicizing fraud enforcement to defund programs — despite federal officials pointing to documented abuse and ongoing criminal cases.

Meanwhile, questions continue to swirl around facilities already flagged by investigators. Reporters visiting several sites highlighted in Shirley’s video found at least one — Quality “Learing” Center — operating with children inside despite state officials previously saying it had been shut down. The Minnesota Department of Children, Youth, and Families later issued a confusing clarification, saying the center initially reported it would close but later claimed it would remain open.

As Minnesota scrambles to respond to the funding freeze and mounting arrests, the conflicting accounts surrounding the Nakomis Day Care incident underscore a broader problem confronting state leaders: a system so riddled with gaps and contradictions that even basic facts — like whether records were actually stolen — are now in dispute, while taxpayers are left holding the bill.