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The Socialist Program with Brian Becker

Wall Street’s View of the Election

The Socialist Program with Brian Becker

The Socialist Program

Politics, News

4.7587 Ratings

🗓️ 6 November 2024

⏱️ 31 minutes

🧾️ Download transcript

Summary

On today's episode, Brian and Prof. Richard Wolff discuss world’s largest asset management firm Blackrock CEO Larry Fink’s comments that the presidential election “doesn’t matter.” How does Wall Street view the possible election outcomes?


Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can find his work at rdwolff.com.


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Transcript

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0:00.0

Asset manager BlackRock manages $11 trillion in assets the highest amount of any company worldwide.

0:10.2

But billionaire CEO Larry Fink, known as the King of Wall Street, wants even more profits,

0:17.9

and apparently doesn't care about who wins the election.

0:21.8

We need a new system. We need a new society. We need to demand that which may have sounded

0:28.0

impossible even a few weeks ago, but is not only realizable, but an imperative necessity. We are excited to have Professor Richard Wolfe join us again for our regular weekly segment

1:02.1

where we talk about the biggest stories related to the economy, the state of the working class,

1:07.6

and the crimes of big business. I'm your host, Brian Becker. The Socialist Program brings

1:13.1

you content several days a week. Thanks to the support of our patrons at patreon.com forward

1:19.3

slash the socialist program. If you listen to the show, if you like the show, if you rely on the show

1:25.1

and you're not a patron, become a patron. Today, we can't do the show without the support of all of our listeners.

1:32.2

Richard Wolfe is the co-founder of the Organization Democracy at Work.

1:35.4

He's the author of many books, including Understanding Capitalism, which is now available

1:40.9

at Democracy at Work.Info.Info, Richard, welcome back.

1:45.8

Thank you very much, Brian.

1:47.8

Well, we're recording this show, Richard, at 1130 a.m. Tuesday on election day.

1:54.7

So by the time most people hear it, the polls will have closed.

1:59.9

That doesn't necessarily mean we'll know who actually won the

2:03.4

election. It could be a drawn-out affair. After the 2020 election, it was a period of great

2:09.5

contestation as Trump and his supporters tried to overturn the election outcome, an election that they lost narrowly,

2:19.1

at least in the electoral college. By popular vote, they lost by 7 million votes.

2:24.6

Anyway, we don't know what's coming in the days and weeks ahead, Richard. So we're not going to

2:28.7

talk about that. But I was curious to see the comments of Larry Fink, the so-called king of Wall Street, he said, I'm tired of

...

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