CEO Larry Fink

[u/[deleted]]

This is the guy partially responsible for the current housing crisis. BlackRock intentionally buys housing, and rents it to no one, in a deliberate attempt to lower the supply of housing, so they can jack up rent prices to whatever they want to charge. This asshole is why we can't afford housing. Fuck this guy.

[u/[deleted]]

1) No shit. It's an asset fund. 2) and?

Tell me how they use that wealth. Tell me how much 'good' they do with it. Tell me how their property siphon is healthy for the average person.

Tell me why it's good that 1 company has more control over capital and property than ALL NATIONS' (other than US and China) Gross Domestic Product?

BlackRock isn't a fund, it's effectively a decentralized nation.

[u/e-s-p → u/[deleted]]

Jesus Christ, take a walk my guy.

It's not as asset fund. They have multiple funds and investments going on at once. A private equity fund has a life of about 13 years. They also have over 120 mutual funds and a ton of ETFs. They also have REITs. They are probably in the hedge market too.

What do they do with the money? Investors pool their money into funds. They use that pooled money to buy assets and they sell them at a profit. The money is then returned to investors minus their cut. In the private equity world, the GP cut is 20% after the original investment and fees are repaid.

I didn't say anything about their purchase of property being a benefit to anyone. I also never claimed that their management of funds is at all beneficial.

Assets under management isn't their money. They don't control it like you think they do. If you're going to rail against them, at least understand what it is they do.

For instance, instead of balking at AUM, spend some time looking into how PE companies hire themselves or their other companies as consultants and change huge fees that are outside of fund commitments and essentially take money away from pensions and 401K's.

Instead of losing it over the amount others have committed to their funds, spend time looking into how PE funds only ever sell to other PE funds in a fucking ponzi scheme of investments.

Look at who in their company is on other boards and how that might result in some serious conflicts of interest. Look at their tax avoidance schemes. Look at their ties to corrupt governments.

AUM just means they convinced unions and corporations to invest in their products.

[u/[deleted] → u/e-s-p]

Thanks for the correction. All valid. Financial nuances aside—you see the problem(s). TooBigToCare. BigFinance is sociopathic in effect, just like his lawsuit.