Caris James
2d ·
Three of the largest investment shops in the U.S.—BlackRock, Vanguard and State Street—have long used their dominance in passive-investment funds to force corporations to comply with their preferred set of environmental, social and governance policies. Their reign, however, may be nearing its rightful end, as America’s law enforcers are waking up to the threats the Big Three pose to investors and the economy.
Forced savings schemes such as Superannuation has only led to the creation of extremely powerful but unelected and unaccountable fund managers.
These fund managers use peoples savings to drive agendas without their knowledge.
The environmental, social and governance polices being introduced by many companies are because of fund managers putting ideology in front of productivity.
It is just another example of how power is being more and more concentrated in the hands of unaccountable officials.
Bureaucrats and fund managers have a greater say in how countries are being run than elected politicians.
Democracy is being replaced by communism one fund manager at a time. See less