cross-posted from: https://lemmy.world/post/19930828
this post was submitted on 22 Sep 2024
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Ah yes, let's attack our neighbors who try to save their money, and let's ignore the bankers and politicians who created the system that incentivizes this behavior.
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.
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.
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.