Brad Lander Won’t Be Comptroller for Much Longer

Brad Lander’s time as New York City’s comptroller is set to be brief — and this might be a relief for the everyday New Yorkers.

It’s not merely because Lander leans heavily left, comparable to Mayor-elect Zoran Mamdani in extreme economic views.

He also seems rather disconnected from the essential responsibilities embedded in his role over the past four years.

As the Chief Financial Officer of the City, Lander manages the city’s substantial $300 billion pension fund system.

His duty is to guarantee that the retirement accounts for police, firefighters, and teachers are “fully funded,” ensuring investments in securities that grow in value.

However, these accounts are not fully funded, and the shortfall is projected to worsen once Mamdani assumes office.

Let’s not overlook Mamdani’s pledge to raise taxes, transforming the city into a less appealing place for companies and high earners.

Lander is also pushing to remove BlackRock from overseeing the city’s retirement funds because the firm doesn’t align with his unconventional green energy policies. He imagines a world where windmills and bicycles replace cars in New York, along with energy costs that feel sky-high.

It’s worth noting that BlackRock is experienced in money management — they excel at it.

CEO Larry Fink is recognized as one of the industry’s top risk managers.

BlackRock’s supposed transgression lies in not wanting to partner in Lander’s questionable and potentially illegal climate initiatives.

In Lander’s perspective, companies that produce oil or natural gas and ensure air conditioning in the sweltering summer months are essentially villainous.

Instead, he champions companies committed to green energy, like the questionable offshore wind projects near New Jersey, which contribute to some of the highest electricity rates.

Moreover, Lander wants all of BlackRock’s client portfolios subjected to his directives; otherwise, he threatens to redirect the city’s funds.

More Nonsense from the Comptroller

This might just be one of the most self-serving and misguided ideas from a public figure.

Let’s face it: Lander isn’t exactly halting climate change. Countries like China continue their high levels of pollution daily, along with India and others.

Additionally, many so-called green investments can falter (think Solyndra), while traditional oil companies like ExxonMobil show significant growth, outperforming broader market indexes.

Interestingly, Lander’s target seems misaligned, considering Fink has historically supported the concept of environmental, social, and governance (ESG) investing, which factors in a company’s carbon emissions.

Fink faced significant backlash from right-leaning groups for this but clarified that New York City’s comptroller can’t dictate BlackRock’s actions regarding Texas state pensions.

Should BlackRock divest its $225 billion in energy stocks, it could lead to a significant market downturn — hardly beneficial for New York City retirees.

This situation might indicate how little thought Lander put into his stance, particularly as he eyes a progressive seat in Lower Manhattan and Brooklyn for the 2026 midterms.

It also underscores why Lander’s successor, Mark Levin, should likely disregard his predecessor’s proposals.

And, in the current landscape of New York City politics — which has taken a rather unsettling turn — Levin might not feel compelled to do so.

Both Lander and Levin should clarify that the city’s retirement fund administrator does not hold absolute authority over investment choices.

The ultimate decisions rest with the fund’s trustees, the auditor, and members appointed by the mayor.

Nonetheless, Lander shouldn’t manipulate this narrative in public discourse, nor should he evade accountability for his obligations as comptroller: to enhance the benefits of the retirement system instead of pushing impractical agendas.

A properly functioning government ought to intervene before Lander and his successor cause any more harm to a city struggling with population and business downturns.

But local prosecutors, like Manhattan’s Alvin Bragg, seem preoccupied with jailing citizens for self-defense rather than preventing radical elements from undermining pension funds. It’s likely to deteriorate further as the city leans more toward socialism with the new mayor.