Blackrock, Inc. (BLK)

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Powell is a member of that one percent class. According to his 2019 financial disclosure, his net worth could run as high as $55 million. Much of his investments are with Goldman Sachs (a Wall Street bank that is supervised by the Fed) or with BlackRock and its iShares Exchange Traded Funds (ETFs). The government mandated financial disclosures report investment values in a range. The upper value of Powell’s holdings with BlackRock is $11.6 million. The upper range of Powell’s holdings with Goldman Sachs is $16.55 million. The name Goldman Sachs has been shortened to “GS” in the disclosure document.

These would appear to be large conflicts of interest. BlackRock has been selected to manage the unprecedented buying of both investment grade and junk bonds on behalf of the Fed to the tune of approximately $750 billion according to the most recent term sheet from the Fed. Even more conflicted, the Fed will allow BlackRock to buy up its own sinking junk bond ETFs using taxpayer and Fed