Conditional cash transfer (CCT) policies are characterized as "magic bullets in development." The New York City (NYC) CCT program, Opportunity NYC, was framed as a policy transfer experiment from Mexico’s Oportunidades. This article shows how Opportunity NYC was used to legitimate Mayor Michael Bloomberg’s power and symbolize his policy efficacy, while its private funding overrode concerns of democratic accountability. The policy rationales that justify CCTs cannot explain why particular models travel across borders, nor how such ideas are globally diffused. The case is discussed in relation to theories on diffusion of public policies and a new type, oligarchic diffusion, is proposed.