Fink did not mention Trump by name in the letter, which ran to some 10,000 words. He did however nod to a Panama Canal ports deal BlackRock struck earlier this month with Hong Kong's CK Hutchinson.

“We gave it to Panama, and we’re taking it back.” Fink did just that, and it marks one of the craziest 180s I have ever seen covering the confluence of politics and finance for 30 year ...