cross-posted from: https://lemmy.world/post/19930828
this post was submitted on 22 Sep 2024
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This whole argument of peoples pension funds being the largest shareholders in a company is bizarre. https://www.blackrock.com/institutions/en-us/insights/public-pensions-survey pensions are owning less and less of the stock markets every year, become less and less relevant. Institutions like blackrock however are growing. Consistently.
Like mate your neighbour Barry isn't calling into the shareholders meeting to criticise the CEO for paying $0.05 an hour over minimum wage the the receptionist.
Pensions have practically vanished in the US. It's all 401k
Ah yes, let's blame blackrock who provides a service for our neighbors who want to protect their wealth and invest, and let's ignore the bankers and politicians who created the system that incentivizes this behavior.
You keep repeating bankers and politicians but don't seem to be going into much detail. Which politicians? Which bankers? When did your neighbours get enough money to invest through blackrock and when did they become billionaires?
What do you mean? Are you going to say politicians didn't pass the laws that are the foundations of our financial and economic system? Which law are you curious about, then I can look up when it was passed and by who. Blackrock doesn't gatekeep, anybody can invest with them, you don't have to be a billionaire.
You're the one making the claim bossman, burden of proof is on you
I need to give you proof that politicians created our laws? Dude..
Are you being intentionally obtuse?
Can't wait for the answer to this one, lol
I'm here reading comments of people's opinions, and everyone is elaborating trying to help people understand their views. You're not. That's why people are asking for clarity (which you're not providing)
To be fair I stopped trying and became sarcastic when they clearly had nothing to add and just wanted to repeat whatever they've read in a blog somewhere
Companies like Blackrock also lobby those politicians with that wealth they're pretending and investing.
"lobbying" is just spending money in hopes of getting more favourable laws passed, which is a form of investment in the company's future.
Lobbying is a sanitised word for bribery.
Sure, the system feeds itself.