- Jul 2021
BlackRock employs a stable of former policymakers, underscoring the importance the company occupies in both financial and policymaking ecosystems, in something akin to a shadow government entity. Good government groups have documented 118 examples of “revolving door” activity by the company—cases in which a government official joined BlackRock’s roster, or vice versa. In one particularly troubling example of how Washington’s revolving door operates, in 2017, a former BlackRock executive was put in charge of reviewing the FSOC’s work for the Treasury Department. Unsurprisingly, the Department’s conclusion was that FSOC should “prioritize its efforts to address risks to financial stability through a process that emphasizes an activities-based or industry-wide approach,” the company’s preferred position. This conclusion all but ensures that BlackRock will not be designated for greater regulation by the FSOC under the Trump administration.
To Big To Fail? Above The Law? Shadow Government?
The term "shadow government" comes up often when investigating Revolving Door partnerships between corporations and former government policymakers. One particular public corporation, BlackRock Investments is the poster child of revolving door activity and comparisons to a shadow government.
BlackRock is front and center in the manipulation of todays Real Estate bubble.
BlackRock should be marketed as;*The Largest Asset Manager and Keeper of The Neo-liberal Flame; We Kill Children to Make You Money and We Enjoy Doing It!*