Comment by pembrook
1 day ago
While we’re debunking that can we debunk the weird leftist conspiracy theories around index fund companies like Blackrock “buying up all the residential homes.”
Yes, the largest index fund company that sells investment products that allow people to invest in indexes (entire markets) is going to defacto be a custodian on holdings across the entire economy, including homes. Operating the funds offered in your 401k doesn’t mean they own the companies that invest in residential real estate. It means you actually do.
If you have a 401k it’s actually you who is in this “secret evil cabal.”
>While we’re debunking
The entire article is just blatantly lying about what the source article says lol.
While, I am not onboard with leftist conspiracy theories, I find the defense of BlackRock a little odd:
"You have to force behaviors. At BlackRock, we are forcing behaviors." - Larry Fink, CEO of BlackRock.
I won't defend Fink's role in pushing the whole 2010s ESG mania, but they were ultimately toothless in that too, because they are a glorified custodian of funds...nothing more.