4 ms·
Sounds like hypernormalisation has now hit the West https://en.wikipedia.org/wiki/HyperNormalisation https://en.wikipedia.org/wiki/HyperNormalisation
by idra 2y ago
Sounds like hypernormalisation has now hit the West
https://en.wikipedia.org/wiki/HyperNormalisation https://en.wikipedia.org/wiki/HyperNormalisation
- no_wizard 2y agoHoly moly. This lead me down a quick read to this gem[0]: > Aladdin (Asset, Liability and Debt and Derivative Investment Network)[1] is an electronic system built by BlackRock Solutions, the risk management division of the largest investment management corporation, BlackRock, Inc. In 2013, it handled about $11 trillion in assets (including BlackRock's $4.1 trillion assets), which was about 7% of the world's financial assets, and kept track of about 30,000 investment portfolios. For any one firm to have this much director and/or indirect assertion over the world’s financial assets is ripe for problems of all sorts. Seems rather indicative of the general consolidation of power and decline of social equality across the west [0]: https://en.m.wikipedia.org/wiki/Aladdin_(BlackRock) https://en.m.wikipedia.org/wiki/Aladdin_(BlackRock)
- simpaticoder 2y agoBlackRock is the ultimate moral hazard.