When it comes to running things, Wall Street is getting rid of the middleman.

Fred gets it right again.

Fred Klonsky

chump change

As Bruce Rauner becomes Illinois’ new governor it appears to signify a change in the way Wall Street does things.

In the past they would have someone like Pat Quinn do their dirty work.

That is why we watched the greasy spectacle of a populist Democrat claiming he was born to solve the pension issue by cutting benefits to state workers and those already retired.

But Bruce Rauner is not a career politician.

He is a career Wall Streeter.

Rauner made his fortune from Golder, Thoma, Cressey & Rauner (GTCR) which has managed more than $40 million of the state’s pension investments.

Wall Street will no longer have a middleman holding the reigns of government. They are taking charge directly.

In Rhode Island, venture capitalist Gina Raimondo will be the governor. Raimondo owns a company that manages funds from Rhode Island’s $7 billion pension system.

Of course, Raimondo’s campaign was funded by…

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