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Wed Mar 2, 2016, 04:26 PM

Larry Fink and His BlackRock Team Poised to Take Over Hillary Clinton’s Treasury Department

Crazy stuff if true


"Larry Fink and His BlackRock Team Poised to Take Over Hillary Clinton’s Treasury Department
David Dayen
Mar. 2 2016, 11:58 a.m.
AP
Goldman Sachs paid Hillary Clinton $675,000 for three speeches, but an even bigger Wall Street player stands ready to mold and enact her economic and financial policy if she becomes president.

BlackRock is far from a household name but it is the largest asset management firm in the world, controlling $4.6 trillion in investor funds — about a trillion dollars more than the annual federal budget, and five times the assets of Goldman Sachs. And Larry Fink, BlackRock’s CEO, has assembled a veritable shadow government full of former Treasury Department officials at his company."

https://theintercept.com/2016/03/02/larry-fink-and-his-blackrock-team-poised-to-take-over-hillary-clintons-treasury-department/

19 replies, 1602 views

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Arrow 19 replies Author Time Post
Reply Larry Fink and His BlackRock Team Poised to Take Over Hillary Clinton’s Treasury Department (Original post)
NWCorona Mar 2016 OP
Kip Humphrey Mar 2016 #1
NWCorona Mar 2016 #3
stillwaiting Mar 2016 #2
NWCorona Mar 2016 #4
AZ Progressive Mar 2016 #5
NWCorona Mar 2016 #6
msongs Mar 2016 #7
JaneyVee Mar 2016 #8
NWCorona Mar 2016 #12
NWCorona Mar 2016 #13
AtomicKitten Mar 2016 #9
NWCorona Mar 2016 #14
99th_Monkey Mar 2016 #10
Kittycat Mar 2016 #17
AzDar Mar 2016 #11
Nanjeanne Mar 2016 #15
NWCorona Mar 2016 #16
Octafish Mar 2016 #18
amborin Mar 2016 #19

Response to NWCorona (Original post)

Wed Mar 2, 2016, 04:28 PM

1. scary.

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Response to Kip Humphrey (Reply #1)

Wed Mar 2, 2016, 04:30 PM

3. Very!

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Response to NWCorona (Original post)

Wed Mar 2, 2016, 04:30 PM

2. Anyone that doesn't believe this or something very similar to this would happen with

Hillary as President is very, very naive, and they will be very hurt by her when she does this.

I believe many of HRC's supporters know she would do this, and they are either fine with it or think it's the best we can hope for.

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Response to stillwaiting (Reply #2)

Wed Mar 2, 2016, 04:31 PM

4. Agreed!

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Response to NWCorona (Original post)

Wed Mar 2, 2016, 04:31 PM

5. Blackrock is the second largest shareholder in the top Private Prison company: CCA

Blackrock Fund Advisors and Blackrock Institutional Trust Company own approximately a combined 8.3 million shares of CCA, making them the second largest stockholder behind Vanguard Group.

https://finance.yahoo.com/q/mh?s=CXW+Major+Holders

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Response to AZ Progressive (Reply #5)

Wed Mar 2, 2016, 04:33 PM

6. And ties to Mitt Romney

I highly doubt Hillary will stop the industrial prison machine.

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Response to NWCorona (Original post)

Wed Mar 2, 2016, 04:36 PM

7. "...if true". in other words, conspiracy theory nt

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Response to msongs (Reply #7)

Wed Mar 2, 2016, 04:38 PM

8. It is conspiracy theory. I heard thru the grape vine that...

 

Treasury sec will be her economic adviser Joseph Stiglitz. The Intercept is a virtual gossip rag propped up by a billionaire Wall Streeter.

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Response to JaneyVee (Reply #8)

Wed Mar 2, 2016, 04:42 PM

12. Why don't you address the content of the article

Instead of bashing the source? Did you even read it? It's a very well laid out argument.

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Response to msongs (Reply #7)

Wed Mar 2, 2016, 04:43 PM

13. Well Hillary hasn't won the nomination

So it's not true yet. Is that better?

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Response to NWCorona (Original post)

Wed Mar 2, 2016, 04:39 PM

9. The Intercept is doing some fine investigative reporting.

 

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Response to AtomicKitten (Reply #9)

Wed Mar 2, 2016, 04:44 PM

14. Yes they are!

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Response to NWCorona (Original post)

Wed Mar 2, 2016, 04:40 PM

10. Hillary's "progressive" mask is cracking wide open here.

 

Thank goodness for the Intercept's great reporting this election year.

Can you imagine if our MSM actually did journalism like this? .. asking truly important
questions, going into depth, pulling back The Curtain? It would be mind-boggling.

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Response to 99th_Monkey (Reply #10)

Wed Mar 2, 2016, 05:14 PM

17. M$M gave us Bush, Iraq War, Tea Party, Trump & Hillary.

Good for money, ratings and pushing their own agenda. Fuck the people.

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Response to NWCorona (Original post)

Wed Mar 2, 2016, 04:40 PM

11. Jesus.

 

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Response to NWCorona (Original post)

Wed Mar 2, 2016, 04:55 PM

15. None of this matters to Clinton supporters. The Dem establishment are

just fine with Wall Street writing our bills. The Clinton supporters just want her anointed already. The corporate media won't report this at all. The busy voters won't hear about this in the 10 minutes they turn on CNN or their local news. If a newspaper runs anything like this it will be buried on page 20.

No pundit will question her campaign about it. No debate moderator will ask her about this

And unfortunately Bernie is too much of a gentleman to talk about these problematic ties.

Business as usual.

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Response to Nanjeanne (Reply #15)

Wed Mar 2, 2016, 04:56 PM

16. I haven't seen one yet address this other than to attack the source.

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Response to NWCorona (Original post)

Wed Mar 9, 2016, 10:37 AM

18. K&R for TPP

Important read. Thanks, NWCorona!

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Response to NWCorona (Original post)

Wed Mar 9, 2016, 10:41 AM

19. and means test & privatize Soc Sec:

Scary: Larry Fink would Be Hillary's Treasury Secy: Advocates Privatizing Soc Security


snip

But Fink and BlackRock pushed hard to successfully resist the designation of asset managers as systemically important financial institutions (or SIFIs), which would be subject to additional regulation like larger capital requirements.

Fink also opposes efforts to reinstitute the Glass-Steagall firewall between investment and commercial banks, as does Clinton.

In fact, Fink’s views on Wall Street are so similar to Clinton’s that it’s hard to see that as a coincidence. Most notably, Clinton’s financial reform plan is mute when it comes to regulating asset management firms as SIFIs.

Fink has in recent months stressed an end to “short-termism” in the financial markets. For example, he wants to limit share buybacks that pump up stock prices, and encourage investors to hold stock longer, to focus on long-term corporate performance. Clinton has mirrored this language to such a degree that the New York Times’ Andrew Ross Sorkin suggested that Clinton “could have been channeling Laurence D. Fink.”

While the call to end short-termism is in some ways laudable, in Fink’s case it certainly reflects his self-interest. Clinton’s tax plan, for example, would keep capital gains rates higher for short-term holdings and decrease the rate for investors who hold assets over five years. Because BlackRock buys and holds most of its investments, any policy favoring long-term strategies in the markets would improve the firm’s bottom line.

snip

Fink has also promoted the privatization of Social Security, while mocking the idea of retiring at 65, which is easy for a business executive who sits at a desk all day to say, rather than working on an assembly line or as a waiter.

Fink owes his initial backing at BlackRock to Pete Peterson, the former commerce secretary who has been at the forefront of the campaign to cut or privatize Social Security. He sat on the steering committee of the Campaign to Fix the Debt, a stalking horse for Peterson’s ideas.



https://theintercept.com/2016/03/02/larry-fink-and-his-blackrock-team-poised-to-take-over-hillary-clintons-treasury-department/

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