16.05.2023, Moscow.
The ultra-large investment companies, such as BlackRock, Vanguard, and StateStreet, may be behind the transformational events taking place in the world, analyst Lev Korovin writes in his article, “A Journey with the Parties in Search of American Fascism. Part XIX” published on May 13 in The Essence of Time newspaper.
A transformational event is an event after which society does not return to its previous state resulting in a formation of a “new normality”. The September 11, 2001, bombing of the twin towers was a precursor of such an event. According to the author, the density of transformational events has recently increased.
Discussing the question of who is the subject of such transformations. The author writes that at least at first glance, the big “three major investment companies: BlackRock, Vanguard and StateStreet,” which together are the largest shareholder in the vast majority of major companies on Wall Street, may be perceived as such.
“The three major investment companies emerged as a result of the 2008 global financial crisis, when they consolidated the assets of distressed investment funds. A similar situation happened in the banking sector, where the Big Four was formed: JPMorgan Chase, Citigroup, Bank of America and Wells Fargo. These four banks have concentrated 45% of all bank deposits in the United States. That is, the financial crisis of 2008 made the US financial sector an oligopoly,“ the article reads.
Source: Rossa Primavera News Agency
