Lemmy.World

BlackRock and other asset managers are profiting off of every aspect of your life. It's not a conspiracy — it's an open restructuring of society.

Key Points:

1. Asset Management Dynamics: BlackRock’s model relies on managing institutional funds, but the real money comes from everyday investors like pension funds. This disconnect limits public control over investments.
2. Universal Ownership Risks: Holding shares across various sectors can lead to anti-competitive behavior, as companies may avoid price competition, harming consumers.
3. Political Ties: BlackRock’s connections to government officials raise concerns about a revolving door that may lead to conflicts of interest in policy-making.
4. Voting Behavior: Asset managers often vote in line with company executives, prioritizing short-term profits over long-term sustainability, which can hurt broader stakeholder interests.
5. Shareholder Oligarchy: The shift from widespread shareholder democracy to concentrated power among a few asset managers diminishes individual influence and accountability.
6. Regulatory Challenges: Efforts to regulate asset managers like BlackRock face resistance, as they profit significantly from their current operational model, complicating oversight.
7. Public Awareness: Understanding BlackRock’s influence is crucial in advocating for a more equitable financial system that benefits a wider population.