@MalthusJohn

#BlackRock #AssetManagers

“…asset managers own much of the basic infrastructure that most of us use every day.

“It’s not simply the case that asset managers have extraordinary control over the financial system; massive firms like BlackRock ‘own, and extract income from, things – schools, bridges, wind farms and homes – that are nothing less than foundational to our daily being’.

“Their control over these assets is, of course, used to maximise their returns. And this requires them to ‘relentlessly squeeze’ profits out of their holdings – whether that means hiking rents for vulnerable tenants, or charging for the use of common infrastructure…

‘…we find a world in which private institutions are able to dominate and control markets, while also dominating and controlling workers and manipulating entire states.”

#BlackOps
#Capitalism
#AssetManagement

Who benefits from portfolios of #housing and #infrastructure like toll roads, hospitals, gas pipelines, data centres, water and sanitation services, telecom towers, electricity generation facilities?
Why such discretion? 🧵
https://canadiandimension.com/articles/view/brett-christophers-on-our-growing-asset-manager-society

#funds #pensionFunds #Toronto #Canada #assets #sanitation #powerPlants #assetManagers #assetManagement #ownership #property #realEstate #BrettChristophers #economy #corporate #corporations #insurance #banking #investors #capitalism #taxes #taxTheRich