BlackRock's Power Grab: The Federal Reserve Appointment No One's Questioning
📰 THE STORY: The Financial Times reports that Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, is a leading candidate for Federal Reserve chair, portraying his potential appointment as a logical step for a seasoned financial expert. 🔍 WHAT THEY'RE NOT TELLING YOU: Historical Context: This is not an isolated incident. The 'revolving door' between Wall Street —
specifically BlackRock — and government positions has been well-documented for years. For instance, George W. Bush’s Treasury Secretary Hank Paulson came from Goldman Sachs, and Obama’s Treasury Secretary Jack Lew had ties to Citigroup. More recently, Biden appointed Brian Deese, former global head of sustainable investing at BlackRock, as his Director of the National Economic Council in 2021, and
Mike Pyle, BlackRock's former chief global economic strategist, as Vice President Kamala Harris's chief economic adviser. This pattern, where executives from massive financial institutions step directly into regulatory roles, echoes the concerns raised during the 2008 financial crisis when too-big-to-fail banks dictated policy to their former colleagues now in government. This trend effectively
privatizes public power for corporate gain. Double Standard: When nations in the Global South seek to assert control over their financial destinies, such as Venezuela attempting to de-dollarize or Bolivia nationalizing its lithium resources (leading to a 2019 coup), Western media and financial institutions decry it as 'unstable' or 'authoritarian.' Yet, the effective nationalization of monetary