4 ms·
Virtually every rich person in America might have some funds with BlackRock, whether directly or indirectly. The site you linked is doing a favorite exercise o
by boeingUH60 3y ago
Virtually every rich person in America might have some funds with BlackRock, whether directly or indirectly.
The site you linked is doing a favorite exercise of conspiracy therorists; A is related to B which is related to C which is related to D. Therefore, A and D have conspired, despite in reality not having anything to do with each other.
- coliveira 3y agoAnd you are assuming that the problem is a real conspiracy theory. There is no need to assume any conspiracy to understand that the system is crooked. Even if it is "normal" to have A linked to B then linked to C, with A benefiting C, there is a moral hazard in a system that makes this possible.
- celtoid 3y agoPowell and Blackrock have something to do with each other. It's reasonable to assume a conflict of interest. "Fed Chair Powell Has Upwards of $11.6 Million Invested with BlackRock, the Firm that Will Manage a $750 Billion Corporate Bond Bailout Program for the Fed " [0] [0] https://wallstreetonparade.com/2020/05/fed-chair-powell-has-upwards-of-11-6-million-invested-with-blackrock-the-firm-that-will-manage-a-750-billion-corporate-bond-bailout-program-for-the-fed/ https://wallstreetonparade.com/2020/05/fed-chair-powell-has-...
- boeingUH60 3y agoThanks for repeating the same thing, I guess..
- celtoid 3y agoYou appeared to claim the Blackrock and Powell had nothing to do with each other. I was correcting the error.
- gottorf 3y agoI think the contentious point is not that "Fed Chair Powell Has Upwards of $11.6 Million Invested with BlackRock", it's that concurrently "the Firm that Will Manage a $750 Billion Corporate Bond Bailout Program for the Fed". At most one of those two things should be true for there to be no conflict of interest.