Congress let mandatory paid leave requirements expire at the end of 2020, sparking calls for universal leave benefits to protect workers and their customers from the pandemic.
Wall Street’s top money manager, Larry Fink, enjoys sharing his economic wisdom with the Washington policy world. The BlackRock CEO reportedly has his eye on the Treasury secretary seat in a Hillary Clinton administration. He’s also been a passionate deficit hawk, with a particular zeal for raising the Social Security retirement age to 70. After all, he once said, most of us have jobs nowadays where we just “sit around.”
Fink may have been trying to prove this last point in 2015 by personally demonstrating how you can get a decent paycheck without doing much more than sit around. A really decent paycheck. Despite a five percent drop in BlackRock’s share price, Fink collected an eight percent raise—to $26 million.
Fink’s pay for nonperformance makes BlackRock a ripe target for shareholder scrutiny. But the firm’s role in our country’s executive pay problem goes far beyond its own CEO’s paycheck. To find out why, read the full article at TheNation.com.