Another BlackRock Exec Piles into White House

Jan. 11 , 2021 (EIRNS)—The Biden White House looks like it’s being redesigned as a BlackRock, Inc. special purpose vehicle (SPV). A third, and this the most senior so far, BlackRock executive has been named.

Sludge reported Jan. 10: “The BlackRock figure set to join the administration with the deepest ties to both the firm, and the neoliberal economic policies it benefits from, will be [VP Kamala Harris’] top economic aide. ‘The American Prospect reported on Wednesday that Mike Pyle, global chief investment strategist at BlackRock and one of the original members of Fink’s ‘shadow government,’ ” will be Harris’s chief economist. The “shadow government” term refers to the period in the spring of 2016 when BlackRock CEO Larry Fink was assuming he would soon be Hillary Clinton’s Treasury Secretary, and was assigning the team to go to Treasury with him and make SPVs. Fink’s team got to do that anyway, with Treasury Secretary Steven Mnuchin, Fed chief Jerome Powell, and hundreds of billions in taxpayer funds.

Pyle worked for Peter Orszag in the Obama White House in 2009-10, shaping the Obamacare Affordable Care Act, and Pyle and Fink are both austerity hawks.