War, Good Lord! What is it good for? Well, that depends on the meaning of the word "good."
The Stoic over at Stoic Finance discusses the involvement of Blackrock in Ukraine. He provides a compact overview of both the Ukraine war and Blackrock. He claims he doesn't think Blackrock's overall intentions are good or evil but his presentation leans -- evil.
We should be careful not to credit malevolence to actions that can be explained by incompetence. Early on, the Biden administration canceled the "lethal" aid to Ukraine that the Trump administration approved, which was like ringing the dinner bell for Vlad the Invader. However, I don't believe they were sending an engraved invitation to war. They thought they were "lowering the threat level." Likewise, I don't think the administration or Blackrock wants to prolong Ukraine's agony. They're just doing a botched job.
I've no doubt Ukrainians remember the genocidal policies pursued by Moscow in the 1930s, so it's no surprise they decided to fight. By now the war has become a source of gainful employment for the non-refugee population, whose previous pursuits and careers were crushed. Russia's attempts to destroy civilian morale by attacking the infrastructure may increase their commitment to their current means of employment, which is war. Hopefully, that can soon be replaced with rebuilding.
Before the war, Ukraine was known for its corruption, not its scenic beaches or Alpine ski resorts. Under these circumstances, postwar aid would be confined to NGO soup kitchens. By partnering with Blackrock, they can provide some assurance that the thievery will be kept to a more reasonable level and economic aid may provide benefit to Europe and the wider world. Blackrock would not be my choice to run it but I'm not the one choosing.
