I thought I read somewhere that when Trump took over the Fed, he had Blackrock do asset management in some capacity - anybody read something similar? Sauce?

EDIT _______________________

Yes .... I most certainly did, here diagonally: https://badlands.substack.com/p/master-and-commander

The Fed will finance a special purpose vehicle (SPV) for each acronym to conduct these operations. The Treasury, using the Exchange Stabilization Fund, will make an equity investment in each SPV and be in a “first loss” position. What does this mean? In essence, the Treasury, not the Fed, is buying all these securities and backstopping of loans; the Fed is acting as banker and providing financing. The Fed hired BlackRock Inc. to purchase these securities and handle the administration of the SPVs on behalf of the owner, the Treasury.

In other words, the federal government is nationalizing large swaths of the financial markets. The Fed is providing the money to do it. BlackRock will be doing the trades.

This scheme essentially merges the Fed and Treasury into one organization. So, meet your new Fed chairman, Donald J. Trump.

Trump assumed full control of the Federal Reserve, the most powerful central bank in the world.

I thought I read somewhere that when Trump took over the Fed, he had Blackrock do asset management in some capacity - anybody read something similar? Sauce?