Podcast 62 - Blackrock, a new breed of financial monster

Socialist correspondent

Blackrock is the biggest finance company in the world yet few will have heard of it and its trillions of dollars of assets. The immense power of this ‘shadow bank’ is based on its control over a vast network of interests, giving it a hold over almost every sector of the economy. In the US, BlackRock is the controlling shareholder of all the major banks, big pharma, oil and tech giants, agribusiness, airlines, automotive companies, arms manufacturers and the media. It represents a dangerous new stage in the monopolisation of finance capital, the high degree of which makes for tremendous instability.