Andy@slrpnk.net to Memes@lemmy.ml · 2 months agoThey can't hold out foreverslrpnk.netimagemessage-square64fedilinkarrow-up1539arrow-down14
arrow-up1535arrow-down1imageThey can't hold out foreverslrpnk.netAndy@slrpnk.net to Memes@lemmy.ml · 2 months agomessage-square64fedilink
minus-squareSubArcticTundra@lemmy.mllinkfedilinkarrow-up19·2 months agoWait, they own the equivalent of 1/3 US yearly GDP?
minus-squaredavel [he/him]@lemmy.mllinkfedilinkEnglisharrow-up40·2 months agoNot only do BlackRock, Vanguard, and State Street own everything, they also own shares in each other. Antitrust is dead; it’s basically one big monopoly. These three firms own corporate America
minus-squareDrew@sopuli.xyzlinkfedilinkarrow-up4arrow-down1·2 months agoThey own most of these shares via their index funds, which do not give them controlling power on the companies
minus-squaredavel [he/him]@lemmy.mllinkfedilinkEnglisharrow-up1·2 months agoThose shares are generally voting shares, giving them enormous power.
Wait, they own the equivalent of 1/3 US yearly GDP?
Not only do BlackRock, Vanguard, and State Street own everything, they also own shares in each other. Antitrust is dead; it’s basically one big monopoly. These three firms own corporate America
Very cool article!
They own most of these shares via their index funds, which do not give them controlling power on the companies
Those shares are generally voting shares, giving them enormous power.