- July 1, 2021
- Posted by: Stratford Team
- Category: Business
President Biden’s big business crackdown could be bad news for Wall Street titans like Ken Griffin — assuming the controversial effort ever makes it off the ground.
On Tuesday, it was reported that President Biden is quietly working on an executive order intended to take on big business and create more competition.
The controversial order, which Biden could sign as soon as next week, would seek to bypass traditional anti-trust enforcement actions by directing regulators to rethink their rules for how their respective industries, from airlines to internet providers, operate, according to the Wall Street Journal.
For the financial services industry, a person with knowledge of Biden’s agenda told The Post, this could mean additional scrutiny from the Securities and Exchange Commission
Griffin’s Citadel Securities would likely be a target in the market-making space, while BlackRock, the world’s largest asset…