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BlackRock’s Washington Playbook
How the Asset Manager Boosted its Political Spending and Fought off Government Supervision
BlackRock’s efforts to capitalize on the financial crisis and transform itself into the world’s
largest asset manager have been well documented, but the firm’s successful intervention into
politics has been less widely covered. Since 2008, BlackRock has leveraged its increased
political spending to gain access to decision makers in Washington and maintain its dominance
of the asset management industry.
Today, BlackRock employs former top government officials as its lobbyists, contributes widely
to congressional campaigns, and ==its employees have held key positions in the Trump
administration==. Despite its historical ties to Democrats, BlackRock has worked to build close
ties to Trump aides. From a nonexistent presence during the Bush administration, BlackRock’s
lobbying team has become an integral part of the financial industry’s operation in Washington.
CfA’s new report, BlackRock’s WashingtonPlaybook, details how the company increased its
political spending to bolster its bottom line, beat back the stringent Too Big to Fail designation,
and become one of the most important financial companies in the world. While following a
traditional model to influence Washington, BlackRock has silenced calls for the company to be
more transparent in its political dealings and has failed to use its leverage with other companies
to encourage transparency.
https://campaignforaccountability.org/wp-content/uploads/2019/09/CfA-BlackRock-Pay-to-Play-9-5-19.pdf