Kamala Harris is not a comedian, but you could be forgiven for thinking otherwise.
During the recent presidential debate, the tireless TikToker somehow managed to maintain a straight face while pledging to create an “opportunity economy” for the middle class. Yet, this promise rings hollow when both she and President Biden are deeply entangled with BlackRock, a firm notorious for crushing the very group she claims to uplift.
BlackRock’s CEO, Larry Fink, openly praises the efficiency of totalitarian regimes; what does this say about where the firm’s loyalties lie?
In short, BlackRock has used its vast financial influence to sway political decisions, control market outcomes, and prioritize profits over the interests of everyday people.
Master of puppets
It’s the puppet master behind the scenes, shaping policies that favor the elite while leaving the middle class to foot the bill. Harris’ cozy relationship with BlackRock exposes her “opportunity economy” as nothing more than a smokescreen for serving the powerful.
The facts speak for themselves.
Harris’ two top economic advisers, Michael Pyle and Brian Deese, were key players at BlackRock. Both were drafted last month, likely to help her craft policies in anticipation of a potential presidency.
As for Joe Biden, since taking office, he has surrounded himself with former BlackRock executives, embedding the financial giant’s influence at the highest levels of government.
Take Michael Pyle, once BlackRock’s global chief investment strategist, who recently served as U.S. deputy national security adviser for international economics. In this critical role, Pyle directed the administration’s international economic policy and acted as Biden’s key representative, or “sherpa,” at the G7 and G20 summits. His sway over global economic strategy was significant.
Before this, Pyle helped shape domestic policy as Harris’ chief economic adviser during the administration’s disastrous first year. His deep ties to BlackRock underscore the firm’s growing grip on the Biden administration’s decision-making, further aligning government policy with Wall Street’s interests.
Last week BlackRock announced that it was rehiring Pyle as deputy head of it’s $3.2 trillion portfolio management group.
And let’s not forget Adewale “Wally” Adeyemo, another key player in the Biden administration. Currently serving as deputy secretary of the treasury, the 43-year-old was once Larry Fink’s right-hand man at BlackRock. During his time at the investment giant, Adeyemo acted as a senior adviser and led the firm’s public policy team, directly shaping BlackRock’s strategy in navigating government relations and regulatory frameworks. His current role places him in a powerful position to influence U.S. financial policy.
You break it, you bought it
Then there’s Eric Van Nostrand, a former BlackRock executive now serving as a senior adviser under Biden on economic issues related to Russia and Ukraine, as reported by Bloomberg. Since Van Nostrand’s appointment, BlackRock’s interest and involvement in Ukraine have suspiciously intensified, with the firm advising on reconstruction efforts and channeling investment into critical sectors.
BlackRock’s history suggests this support is far from altruistic. The firm has a notorious track record of capitalizing on geopolitical crises for financial gain, rather than genuinely aiding nations in need. Much like its exploitative role during the 2008 financial crisis, when BlackRock profited from the collapse it helped precipitate, the firm now stands to benefit from Ukraine’s instability. Its influence over Kyiv’s policies, including the deregulation of urban planning, paves the way for corporate interests to exploit a rather dire situation.
Chinese democracy
It doesn’t stop at Ukraine. BlackRock isn’t just funding the destabilization of democracies abroad — it’s actively helping China, a regime that poses an existential threat to American interests.
The Coalition for a Prosperous America has revealed how BlackRock funnels billions into Chinese companies, many linked to the Chinese Communist Party and the People’s Liberation Army. This raises alarming questions about national security and America’s economic sovereignty.
BlackRock’s CEO, Larry Fink, openly praises the efficiency of totalitarian regimes; what does this say about where the firm’s loyalties lie? Certainly not with the average American family struggling to make ends meet.
As if that weren’t enough, BlackRock’s involvement in the U.S. military-industrial complex adds another layer to its nefarious influence. As highlighted by researchers at Corporate Accountability, an organization committed to exposing corporations that undermine democracy, BlackRock holds tens of billions in investments in major defense contractors such as Lockheed Martin, Raytheon, and Boeing. By profiting directly from never-ending wars, BlackRock reaps enormous financial rewards while American taxpayers are left to foot the bill.
Which brings us back to Kamala Harris. For all her posturing, the flip-flopper-in-chief is not here to challenge this system. She’s here to safeguard it. If elected, Harris’ economic policies will be molded by the same firm responsible for widening income inequality and eroding democracy. The Wall Street Journal has shed light on how BlackRock has amassed entire residential neighborhoods, turning these homes into rental properties. This aggressive acquisition strategy fuels bidding wars and drives up home prices, directly disadvantaging the middle class.
As Jeffrey Sonnenfeld, a Yale professor, has pointed out, Kamala Harris’ ties to Wall Street are even more intimate than Biden’s. And when Wall Street speaks, it’s really BlackRock’s voice you’re hearing. Harris’ campaign promises to support the middle class appear to be nothing more than a boldfaced lie. But this is what she excels at: bending the truth.
Make no mistake about it: BlackRock’s interests are diametrically opposed to those of the American people. A Harris presidency would mean more policies that enrich the few at the expense of the many. Kamala Harris isn’t the answer; on the contrary, she’s part of the problem.
John mac ghlionn, Kamala harris, Bloomberg, Economy, Presidential election 2024, Larry fink, China, Politics, Blackrock
