Submitted by helloworld_141 t3_yemqwz in nyc
Comments
Jack_Sandwich t1_itz3y03 wrote
ESG is con. It’s a concept invented by giant financial institutions used to knock down small and midsize business competition.
Paintingmyfreedom t1_itz429i wrote
Please call poison control and report a kool aid overdose
Jack_Sandwich t1_itz4b57 wrote
Yeah, good luck with that. BlackRock has more global clout than most nations’ governments. I don’t think a half dozen protestors making a scene in the lobby has them quaking in their $1,000 boots. And I think we need to be more diligent with the use of the word “stormed.”
ripstep1 t1_itz4ctq wrote
Why would the protests mean anything in the first place?
robot_pancake t1_itz5gr4 wrote
Genuinely curious why you think this is or where I can read more about this perspective. :)
GreenTunicKirk t1_itz5ltk wrote
Fuck Blackrock.
I did a gig there years back on one of the event floors. During a break, I poured myself a cup of coffee and grabbed a cookie from the food station. As I went back to start playing again, one of the suits rattled me for “taking what wasn’t mine”
So you can ask me to entertain you but not let me have a pitiful cup of drip coffee and a dumb little cookie? Fuck outta here.
Fuck Blackrock for a lot of reasons but that’s a personal story.
robot_pancake t1_itz63yy wrote
“Stormed” is definitely the wrong word here.
The protest makes for good marketing material though. You hand out a pamphlet with this picture and contextualize it with information about their stance—and it becomes far more powerful. This is only one part of their greater communication strategy.
No minds in that building were changed, but that wasn’t the point.
barrystrawbridgess t1_itz68p4 wrote
The media calls this "The Capital Market Riot" or October 26th. Never forget!
I wonder if their ESG score goes down.
Skizm t1_itz68tc wrote
More marketing, but yea it’s mostly greenwashing. Companies don’t really have any other levers to pull besides sending letter asking companies to pollute less though since they have a fiduciary responsibility to their shareholders. BlackRock at least shoots off a few public letters and has justified shifting some capital by claiming pollution is bad for returns. It’s not much but my point is still, of all the evil banks, why BlackRock lol.
EditorPractical9424 t1_itz6kie wrote
I mean, nothing is gonna change through the legal process in this bought country.
barrystrawbridgess t1_itz6o4a wrote
I would have to agree with that redditor. It's financial market blackmail to shift investments to companies that "buy in" into ESG. "Do this and I'll make you more money. Don't do it and I'll make you unprofitable."
robot_pancake t1_itz6scv wrote
On the other spectrum, you’ve got Bloomberg, which is famous for its floors—yeah, floors—of fresh fruit, snacks, and coffee that are available for anyone inside. That BlackRock suit sounds like an ass.
Jack_Sandwich t1_itz6snr wrote
Here is a decent summary article on the underlying flaws in concepts. https://quillette.com/2022/03/02/the-problem-with-the-diversity-dividend/
And you may also want to look at what happened to Sri Lanka, what is happening to Germany. Governments that prioritized ESG scoring, and the disastrous consequences for their economies, their working class people. Spoiler alert: the uber rich all come out okay.
And finally a great little snippet from Vivek Ramaswamy who writes and comments extensively on this: https://twitter.com/VivekGRamaswamy/status/1577273895526318081?s=20&t=EIe7EpNIyBUm1tzZLKdNSA
SoggyWaffleBrunch t1_itz6us9 wrote
hey, Climate Town has a great video on this subject! What your bank really does with your money
_Maxolotl t1_itz72m7 wrote
A recent Harvard study concludes nonviolent protest is no longer statistically more likely to succeed than armed insurrection.
https://www.tandfonline.com/doi/abs/10.1080/14754835.2022.2077085
[deleted] t1_itz7m36 wrote
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Brooklynhoosier t1_itz7n08 wrote
I admire the guts to go after financial institutions on climate change but that’s like trying drain the ocean. Unless it’s sanctioned by the govt money always finds a way. And even then…
Frankiesales_ t1_itz858f wrote
People are fucking nuts now a days
robot_pancake t1_itz8afz wrote
Thanks for the links!
How is it blackmail if companies and governments aren’t forced to purchase these funds? One of Tariq’s main points (first vid) is that purchasing an ESG fund doesn’t stop other institutions and larger market players from buying non-ESG funds, which softens divestment initiatives. Tariq also argues that investment is only part of the solution—carbon taxes, caps—whatever we call it—require governments and markets to be in lockstep to make meaningful change.
Souperplex t1_itz8dvy wrote
I find it hilarious that some really evil companies pick the evilest names they can. Blackrock, Bain Capital, Blackwater, etc. The kinds of names where if you gave them to a fictitious evil company people would say it's too on the nose.
sleeptrain123 t1_itz8fmb wrote
What is it they want Blackrock to do?
LoneStarTallBoi t1_itz8wmz wrote
It never was! The whole point of nonviolent protest was to say "please give us what we want before we stop being nonviolent" but it got twisted into "if you can't accomplish it with polite chanting, it isn't worth doing"
barrystrawbridgess t1_itz963r wrote
Black Rock has some of the largest fossil fuel investments. Your company shouldn't invest in fossil fuels or we make you look bad. Meanwhile, Blackrock and Vanguard are increasing their interests in fossil fuels. Telling governments to not question them about it. That's the whole point of these "protestors".
https://www.oilandgas360.com/blackrock-tells-uk-no-to-halting-investment-in-coal-oil-and-gas/
Octopus69 t1_itz9d20 wrote
Damn dude. You stole from them. How could they ever financially recover from this?!
/s because this is readdit and people don’t understand sarcasm
Tunto_Bungus t1_itza3jh wrote
In the past, it was a plea to the upper classes to acknowledge the stance of the lower classes OR ELSE. Now there's no or else. Governments serve strictly the wealthy, so they weaponize military and police forces against any inkling of an "OR ELSE" occurring.
Protests no longer serve a purpose. If anything, its just one more thing for your rich white boomer uncle to whine about being "disrespected" for at the Thanksgiving table.
King-of-New-York t1_itza663 wrote
What. The. Actual. Fuck.
How are these creatures real?
luckylebron t1_itzagev wrote
Good for you!
dogsontreadmills t1_itzai2t wrote
TIL “stormed” means 12 people, 2 banners and some rocks.
redelephant390 t1_itzbsxr wrote
Blackrock isn’t a bank, though…
SoggyWaffleBrunch t1_itzc9vv wrote
they're the world's largest asset manager. The same idea applies
LtRavs t1_itzdda2 wrote
They’ve also taken the strongest ESG stance of any asset manager.
LtRavs t1_itzdhpe wrote
Idk if you can lump Blackrock and Bain in with Blackwater lol
sumgye t1_itzdrbn wrote
I mean they basically invented ESG and environmentally conscious investing, or at least made it mainstream. This is like surging Apple HQ because they are using child labor. Like yes, but they have also pushed very hard to erratically it.
SoggyWaffleBrunch t1_itzekv2 wrote
did you consider that the video I recommended touches on that topic?
Locutus_Picard t1_itzf1ek wrote
Aaaaaaand nothing will change. Just another tantrum by the same babies that will eventually own Blackrock stock if they can find employment with their useless degrees anyway.
bundt_bunny t1_itzf2sj wrote
Please tell me you've seen the Key and Peele sketch "Bagels are for Sales Associates" 🤣 If not, I hope this helps you find humor in the ridiculousness of your experience: https://www.youtube.com/watch?v=aqNR429SuAk
LeicaM6guy t1_itzfi4u wrote
That sounds on point for them.
Imagine357 t1_itzfjo7 wrote
A fiction. Greenwashed. We do a lot of work to fight greenwashing.
f4therfucker t1_itzfkz0 wrote
And ESG is under fire from the left for being a greenwashing scam.
hagamablabla t1_itzfz24 wrote
At least they're protesting at the right place this time. I'd rather they annoy an investment firm than toss soup at art.
_Maxolotl t1_itzg96y wrote
Actually the study I linked to is by a professor whose findings were, broadly, that from the mid to late 20th century nonviolent protest was more successful than insurrection, but then the bastards figured out how to counter nonviolent protest effectively, and by the early 21st century nonviolent protest and insurrection were about equally effective, but the efficacy of nonviolent protest is continuing to weaken.
GreenTunicKirk t1_itzgg3m wrote
Well maybe they should cut back on the avocado toast and lattes every day!
HorseForce1 t1_itzh5qr wrote
I guess we shouldn’t protest anything bigger than a bake sale then
dellett t1_itzi7s7 wrote
A better word would be “stood” - that lobby is basically open to the public at all times during the day
sumgye t1_itzigm9 wrote
Lol just want to point out the irony of you linking Bloomberg
718Brooklyn t1_itzigsa wrote
You don’t have to lick those boots
TrekkerMcTrekkerface t1_itzijig wrote
I think we all agree; that headline does not delivery on its promises.
dellett t1_itzins1 wrote
Standing in a place that is open to the public
GreenTunicKirk t1_itzjlmf wrote
One of the greatest comedy duos of all time - love this sketch because I connect with it so deeply
Imagine357 t1_itzjwk3 wrote
They also give out free food.
TeaTrees t1_itzkhwr wrote
This is a very misleading comment. Some firms who are claiming to have ESG impact are greenwashing, not all firms claiming to have ESG impact are greenwashing
BrooklynWhey t1_itzlgmu wrote
$1,000 boots? Are you talking about their spares?
NikEy t1_itzmer0 wrote
Please downvote the post then. Stupid click bait
GoldenPresidio t1_itzmxap wrote
I think your post his fair but the guy above you is still correct. ESG claims are under fire because companies are claiming to reduce the impact to the environment and providing more transparency, but a lot of it is BS
TeaTrees t1_itzobjb wrote
Yeah “very misleading” was a bit of an exaggeration. I guess my point is that there is lots of controversy within how different people claim to apply esg, but it’s not the idea of esg itself that is controversial
Bjj-lyfe t1_itzpd9h wrote
No one owns or gives a shit about black rock stock lol.
oldtrenzalore t1_itzs3f0 wrote
The person that's going to clean up those rocks for minimum wage doesn't even work for BlackRock.
thatbearguy2202 t1_itzs506 wrote
You're a towel
sick-user-name t1_itztd2z wrote
hell yeah. fuck blackrock.
Locutus_Picard t1_itztily wrote
Not if you want to get good returns, there’s a reason their called the 4th pillar of the government.
Those who don’t give a shit about BR have no clue about investing anyway.
i_yell_it t1_itztl03 wrote
Because unless the profit motive is subordinated, ESG is superficial & cosmetic.
seejordan3 t1_itztz3j wrote
Dont forget the pitchfork!
gamut_coax_0d t1_itzuigw wrote
Investment firms should have never touched ESG. It's a can of worms. Tying politics to finance means to the right, you're always overstepping your bounds, and to the left, you're never doing enough. You can't win.
Also it doesn't help that the big three firms appear to be colluding in their ESG efforts. SEC is going to put them in a world of hurt if R's gain power in 2024.
[deleted] t1_itzuvtc wrote
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dhdhdfjffjj t1_iu01ry0 wrote
But you know who loves ESG? Investment banks, it’s their biggest cash cow now, and they really don’t need to do shit to maintain it, most of the industry is pretty much a closed loop
mrdnp123 t1_iu030fd wrote
The right place? Republicans have withdrawn billions from their funds because they’re investing in ESG. Pissing the group of people who can actually drive real change with big money. At least know your shit before you go and protest
lickedTators t1_iu03lv9 wrote
Ye-yeah like the guy in $2000 boots is gonna get pitch forked, c'mon!
movingtobay2019 t1_iu05qlp wrote
Not surprised. Claims to reduce impact to the environment makes people feel good. Much harder for consumers to put money where their mouth is.
movingtobay2019 t1_iu06525 wrote
Allocating capital is hardly in the same league as bunch of nuts gunning down civilians.
sillyshepherd t1_iu06gny wrote
Hey man, I'm seeing three banners here
No_Beautiful8105 t1_iu0azn6 wrote
Do these people have jobs?
f4therfucker t1_iu0ckq2 wrote
Chevron is the 8th largest holding in Blackrock’s core ESG fund, so even if only a small number of firms that claim ESG credentials are fraud, the investment products themselves are also bullshit.
Shivari t1_iu0dvvn wrote
Capitalists like Blackrock are the problem, not the solution
HFY_HFY t1_iu0egqd wrote
Yeah I was surprised by this headline. Fink is a huge supporter of ESG. Moreso than he should be as an indexer.
TeaTrees t1_iu0g1xj wrote
I was just pointing out the way you used it in the sentence was misleading. My point is that esg is a idea, not a thing, it’s like ethics. You wouldn’t say ethics itself is under fire, you would say many firms are under fire for ethics-washing.
PoopyPicker t1_iu0gen9 wrote
I would argue picketing outside in your designated spot is ineffective. People forget civil disobedience meant nonviolently breaking the law, getting arrested en mass, and disrupting services to be noticed.
indirectdelete t1_iu0htlh wrote
Very relevant quote from Your Politics Are Boring As Fuck
“The truth is, your politics are boring to them because they really are irrelevant. They know that your antiquated styles of protest—your marches, hand held signs, and gatherings—are now powerless to effect real change because they have become such a predictable part of the status quo. They know that your post-Marxist jargon is off-putting because it really is a language of mere academic dispute, not a weapon capable of undermining systems of control. They know that your infighting, your splinter groups and endless quarrels over ephemeral theories can never effect any real change in the world they experience from day to day. They know that no matter who is in office, what laws are on the books, what "ism"s the intellectuals march under, the content of their lives will remain the same. They—we—know that our boredom is proof that these "politics" are not the key to any real transformation of life. For our lives are boring enough already!”
wwcfm t1_iu0iuqq wrote
ESG investing and more broadly finance is in its infancy. Calling it a fiction is objectively incorrect. Greenwashing exists and the industry is aware. The effort is being made to regulate and standardize ESG finance. These things take time. The EU is definitely leading the charge, but it’s growing quickly in the US as well.
wwcfm t1_iu0j4a4 wrote
IBs are investing a lot in ESG platforms, but calling it their biggest cash cow is idiotic.
ExtremeHeat t1_iu0kpig wrote
Same at JP Morgan. Never seen anyone reprimanded for this kind of stuff.
SanDieganNewYorker t1_iu0mqg2 wrote
If those rocks were taken from Central Park (not allowed), I’ll be hopping mad.
mrdnp123 t1_iu0mtus wrote
Despite changing their ways and investing billions into renewable resources, screw them? They’re leading the way lol renewables will only take hold when companies invest in it. Which they’re doing. Meanwhile these spoilt brats achieve nothing. Be the change you wanna see. Blocking escalators isn’t doing shit
frogvscrab t1_iu0n8t3 wrote
People would take these protests more seriously if it actually looked like normal working class people at them and not a handful of NYU students.
Pool_Shark t1_iu0nr3a wrote
Protests are legal because it lets people feel like they are doing something. Without a legal form of protesting people would be more quick to resort to violence which is the only thing that scares the rich
Imagine357 t1_iu0okt6 wrote
I work for a European institution and don’t see institutions like Blackrock being as mature. The non-banks financial services firms / hedge fund like entities generally care more about money than sustainable investing.
NateSiebertt t1_iu0swbs wrote
more like light showers
Shivari t1_iu0vpqa wrote
“Don’t protest, just post online running cover for wealth hoarders”
Ok, thanks!
Seriously if you think Blackrock is even .1% benevolent I have a bridge to sell you
bored_and_scrolling t1_iu0w2bt wrote
They will ONLY do what makes their stakeholders money. you’re delusional if you think they’d do anything good for the world in lieu of profits. You’ll literally get booted from the board for that. On rare occasion those two things will coincide, what is good for the planet / public and what makes money but in the OVERWHELMING majority of situations what is good for the private profits of blackrock is NOT good for the public
ImaginaryFreedom7 t1_iu10ypm wrote
Grab someone off the street and ask them what they think ESG is and they will more than likely describe impact investing and allocating dollars to sustainable investments. That’s not what ESG integration is. It’s using ESG related information/data to help inform investment decisions and how the data might affect risk and return. A Sustainable Fund’s objective may be to have better ESG characteristics than its benchmark. Just because chevron or other energy in general is a holding doesn’t make that untrue. A large part of ESG scoring is the direction a company is moving.
Naturally if a fund or etf is greenwashing or declaring untrue statements about how they invest there are issues. Blackrock has a team of lawyers regarding their disclosures in their ESG products but a lot of the issues boils down to 1) not a common framework for disclosures and 2) different esg definition among different stakeholders.
CheshireCatastrophe t1_iu129uo wrote
Love the person in the background screaming like a deaf animal.
No hate or anything, I just came across this, I took nothing else from this.
Lovat69 t1_iu139ae wrote
There were mulitple pitchforks. it just seems like less because one person was holding three at once.
Master_Stress_3009 t1_iu14aiy wrote
Weak af
Lovat69 t1_iu156dd wrote
>Grab someone off the street and ask them what they think ESG is and they will more than likely describe impact investing and allocating dollars to sustainable investments.
Grab someone off the street and most of them won't have any clue what you're talking about. Let's be realistic.
ImaginaryFreedom7 t1_iu15k48 wrote
dirty-vizzer t1_iu1a6u0 wrote
Some people just have too much time on their hands.
wwcfm t1_iu1bx4s wrote
Did you edit your comment? I originally took it to mean ESG is greenwashing, but now your comment reads more specific to BlackRock. Maybe my recollection is bad.
Imagine357 t1_iu1d54e wrote
No edits - but to clarify - I’m critical of the greenwashing taking place by many firms, of which I suspect hedge funds and other non-bank market participants of facilitating. Mentally, I put firms like Blackrock in this bucket as they tend to skirt regulation by their nature as a non-bank. Moreover, they are American and not European, and I know how little US regulators are pushing the climate agenda in comparison to the EU.
someliskguy t1_iu1e7he wrote
Lol that woman just trotting down the escalator like it's another normal day.
"Blackrock hears ya, Blackrock don't care."
ripstep1 t1_iu1inlr wrote
This is a private company. They already support environmental initiatives. Maybe these people should picket outside of actual companies that damage the environment
Shawn_NYC t1_iu1jv4z wrote
Bruh, they're just awkwardly standing around while 1 security guard is stopping them all.
moseg t1_iu1kly7 wrote
More from the same action https://www.instagram.com/reel/CkL5X5crpq6/?igshid=YmMyMTA2M2Y=
17657Fuck t1_iu1mp7g wrote
Swagyolodemon t1_iu1mstm wrote
Yeah even Blackrock and Bain are completely different companies.
Tunto_Bungus t1_iu1n6j9 wrote
Are you thinking of the blackrock this is referring to? Or like deliberately disregarding a fucking mountain of evidence against them?
ripstep1 t1_iu1o8jj wrote
Evidence again them in terms of what?
EnnWhyCee t1_iu1ouj2 wrote
Meandered. Leisurely stroll. Walkabout. Saunter.
barbozas_obliques t1_iu1q3sw wrote
Companies that are rated more highly in ESG tend to outperform their counterparts.
NoGround t1_iu1r2it wrote
Countering nonviolent protests will eventually bite them in the ass. Maybe not in our lifetime but bloody revolutions are unstoppable tides once the dam breaks.
barbozas_obliques t1_iu1r6y3 wrote
You want me to watch a 20 minute video when you conflated the concept of a bank and an asset manager? Dude what are you smoking.
NoGround t1_iu1rfyn wrote
It takes 3 seconds to find anything on Blackrock provided you've at least heard of them.
[deleted] t1_iu1t6k0 wrote
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Imagine357 t1_iu1ytg0 wrote
Haha, Bloombergs offices have snacks, melon water, cookies, ramen, all kinds of goodies.
Bjj-lyfe t1_iu1z2y8 wrote
-27% ytd isn’t good returns lmao
Locutus_Picard t1_iu25a64 wrote
There are no good returns this year except for oil at some points. BR will be back and I don’t mean BaskinnRobbins!
BDnDSM_DM t1_iu29s38 wrote
More footage here. This was actually the second protest at BlackRock in the past week, last Wednesday 28 members of GreenFaith were arrested for taking over the lobby, 10 members of XR and various other groups yesterday.
TheSpaceBetweenUs__ t1_iu2kmgp wrote
What do you think "normal working class people" look like?
LawSchools2MuchPwr t1_iu2oqvz wrote
They’re also under fire for their retirement suite sucking
Honest_Ice_7239 t1_iu2rzjz wrote
Finally
Bjj-lyfe t1_iu30cf1 wrote
That’s true. You convinced me, putting 10k in black rock
ripstep1 t1_iu3517w wrote
Yeah nothing in that video was particularly concerning to me. Your comment gives me a distinct “capitalism = bad” energy
dread_-Pirate_R0bert t1_iu37iyo wrote
Hahah I had to rewatch to confirm , even funnier now !
LLL_CoolJ t1_iu3g6ei wrote
Damn some of these are just kids and they will have a record on them?
Tunto_Bungus t1_iu3r9qe wrote
When was capitalism ever good...?
BenHogan1971 t1_iu3sii0 wrote
did no one glue their head to the wall?
Slight-Food-1151 t1_iu3xwj6 wrote
Well we are going to run out of oil so we have to move to renewables. What's good for the environment is also good for black rock in the long term. Wind, solar, and nuclear energy as well as electric cars are the future.
ConcentrateHairy8293 t1_iu3zxjm wrote
I agree. Where are the pitchforks?
sleeptrain123 t1_iu46r9l wrote
Perhaps by raising the living standards of billions of people?
sleeptrain123 t1_iu46vwj wrote
No it doesn’t
sleeptrain123 t1_iu47ekl wrote
A huge part of Blackrock’s AUM is passive index funds and ETFs, where you just own the whole market rather than picking specific investments. If they offer a fund that tracks the SP500, and the SP500 contains oil and gas companies, then the idea that Blackrock or any asset manager should just refuse to buy their shares, is absurd.
Also, much like the car companies who are pivoting to electric, the oil and gas companies will have a key role to play in moving away from fossil fuels. Equity capital exists, divesting from them doesn’t make it disappear, it just means someone else owns it. Asking Blackrock or any other asset manager to sell of their oil and gas holdings is absolutely meaningless
sleeptrain123 t1_iu47mon wrote
The whole market is down 25-30 ytd, if you invested in blackrock in 2005 you’d have a 4000% return so far.
I have a hunch that maybe you don’t understand investing
[deleted] t1_iu47sz4 wrote
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sleeptrain123 t1_iu49e6p wrote
Banks make loans or help the entity to raise debt by underwriting bond offerings, which are used for capital investment, business expansions, new pipelines etc. They’re not investing your deposits into public equities, they’re not allowed to do that.
Asset Managers are typically investing in the public equities, where they’re passive (they’re just buying whatever is in the benchmark they’re tracking) or they’re active (so they may be overweighting towards certain stocks but typically are measured against a benchmark which contains all manner of stocks).
One is an active decision to extend credit to companies to expand and invest, the other is more based on the fact that these companies exist and if you offer a product that tracks the stock market you can’t just choose to exclude companies from that. From a fiduciary perspective, it would be impossible. That’s why so many asset managers are rushing to offer personalized and thematic investment product, so the decision can lay with the individual. I.e a US equity index product but excluding companies based on GICS classifications, ESG scores, or thematic baskets.
When you divest equity, it doesn’t just cease to exist. Someone else buys it. If blackrock sold all the oil and gas stocks they own, they would simply pass into the ownership of other entities. That’s why anyone with half a brain realizes that asking asset managers to just divest from fossil stocks is pointless and most likely dangerous.
So that’s how the way that banks invest and asset managers invest is quite different. It’s reasonable to not want banks to offer credit to fossil fuel companies, that would hurt those companies, it’s downright stupid to want asset managers to simply sell the stocks of companies we don’t like. It just means that ownership stake and voice is diluted, and passed to other entities.
ripstep1 t1_iu4acuf wrote
Since forever? You are posting on a website which is a pure capitalist endeavor in the first place.
[deleted] t1_iu4ati3 wrote
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sleeptrain123 t1_iu4b0li wrote
Some do, but they’re distinct entities and the funds are completely ring fenced. Wells Fargo, Schwab, JPM etc…the banks and asset management arms are separate legal entities. A bank can’t invest deposits in anything they want. Asset managers are typically bound by the SEC and the investment company act of 1940, banks are under supervision of the fed. The regulatory scrutiny of banks is much higher.
sleeptrain123 t1_iu4b49d wrote
It doesn’t, this is such a typical Reddit response. It’s very clear you have no idea what you’re talking about, but you’ll double down anyway. Good luck to you.
[deleted] t1_iu4cmno wrote
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sleeptrain123 t1_iu4eykj wrote
Nothing you said relates to that point. It’s not a case of ‘owning’, it’s an opportunity for you to learn something. You can choose whether you do that, or you can choose to continue to not understand the difference between a bank and an asset manager. You said conceptually the video was the same for both, I pointed out that it’s not, you then asked what ‘pendantic’ point I was making, and are now defensive rather than just accepting that you’re wrong. It’s the Reddit way
[deleted] t1_iu4fxv2 wrote
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sleeptrain123 t1_iu4hv4q wrote
“When you store your money with an institution, they will use that money however they want”
Literally that point alone is just categorically not true. There are very rules about what banks can use deposits for, and any publicly offered investment product by an asset manager has legally binding prospectus and investment disclosures (callled an ADV) which details the objective of the fund, what they’re allowed to invest in, the risk they can take, and what they’re not allowed to invest in. Again, this isn’t a debatable point.
Seriously, just stop, you’re embarrassing yourself. If pointing out that you have a childlike view of finance is pedantic, then I guess I’m guilty as charged!
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mistermarsbars t1_iu4nn0e wrote
And while it takes time to develop the planet is overheating and mass extinction is just around the corner.
lazerphace t1_iu4wssr wrote
bet they took ubers to get here lol
NoGround t1_iu5hqo3 wrote
It does nothing of the sort. It is literally a link to a video about what BlackRock is and blunt statement telling you to go look it up yourself since your tone is the opposite of someone who will be convinced of any facts thrown in your face. I have no desire to talk with someone with a tone like that, since it is a waste of time and energy. If you are interested, you will look it up on your own.
Every system has its good and bad sides. Capitalism, like every other system that strives to reach an ideal, needs checks and balances in order to not become a rampant cancer of itself due to human intervention.
BDnDSM_DM t1_iu6m0pb wrote
In thirty years, our arrests won't matter, but whether we have a planet to live on will.
drbootup t1_iu7h3kn wrote
Longer video that shows more of pitchforks, coal being poured on floor and some explanation of the protest.
drbootup t1_iu7h5n9 wrote
The girl in grey is holding them.
drbootup t1_iu7hbxx wrote
The Right will complain about too much ESG because it cuts into profits. The Left will complain that ESG is just for show.
Bjj-lyfe t1_iu7nyvy wrote
No one gives a shit how it’s performed in 2005. Right now it’s performing the same as the s&p 500. Keep going with your stock picks though, sounds like you’re quite the investing guru
bearcat888 t1_iu7w86p wrote
there are at least four pitchforks!
wwcfm t1_iu9fpow wrote
Well why didn’t you start it 50 years ago?
Slight-Food-1151 t1_iuc5208 wrote
I sent your story to them
Keyboard-King t1_iuc89sv wrote
Stormed and the whole company thrown into an insurgence.
Extreme Buzzwords are becoming a problem. They’re just inaccurate.
Keyboard-King t1_iuc8m77 wrote
Blackrock is one of the richest companies in the world. Who do they think they are to stand against them? Much of the land in the U.S. is owned by Blackrock.
[deleted] t1_iugqf06 wrote
[removed]
Tunto_Bungus t1_itytin2 wrote
I wish any of our protesting meant anything anymore. But these people know the begging is only peaceful, and they will wait the screams and begs for any change out in their ivory towers while sneering.