Breakingviews - Could Larry Fink pass the Democratic purity test?

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The revolving door from Wall Street to Washington might soon slam shut. If Joe Biden wins November’s U.S. presidential election, some Democrats want him to eschew finance folks when staffing key roles. Some people who could add value, like BlackRock boss Larry Fink, would...

NEW YORK - The revolving door from Wall Street to Washington might soon slam shut. If Joe Biden wins November’s U.S. presidential election, some Democrats want him to eschew finance folks when staffing key roles. Some people who could add value, like BlackRock boss Larry Fink, would fail such a tough purity test.

Some centrist Democrats think Fink, whose company manages $7.3 trillion of investors’ money, could be a good person to lead the department, according to news reports. Tony James, a top executive at private equity firm Blackstone, is another name mentioned from the ranks of finance. Biases are a risk for officials recruited from any industry. But some Wall Street alumni have proved zealous overseers of their former colleagues. One example is former Commodity Futures Trading Commission Chair Gary Gensler, who spent 20 years at Goldman Sachs and then took few prisoners implementing post-financial crisis reforms.

 

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Could he pass the drug test? He's also been selling our production to China for many years!

Haven’t the fat cats had their turn? What do they have to offer that isn’t horribly tainted by the love of money? Which, I may remind folks, is the “root of all evil” according to the Bible all you all pretend to revere.

Is he a republican? If so, yes.

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