BlackRock Exec For Fed Chair, Because Wall Street Hadn't Suffered Enough
Bloomberg Politics touts that BlackRock’s Rick Rieder is a gaining 'traction' for Fed Chair. This 'news' conveniently overlooks the consistent pattern of powerful financial institutions installing their own at the helm of regulatory bodies. Larry Fink, BlackRock's CEO, was a frequent presence in both Obama and Trump administrations—a pattern that highlights the seamless integration of private
financial power and public governance. (Remember when BlackRock became the effective manager of the Fed's emergency asset-buying program during COVID-19? No conflict there, surely.) One might wonder if 'gaining traction' is just a polite way of saying 'the usual suspects are aligning,' ensuring that the same institutions that benefit from Fed policy continue to shape it. Is this a 'bid' for public
service, or merely the next logical step in solidifying corporate control over the levers of national and global finance?