Follow the MONEY, Find the TRUTH with Ian Carroll (WiM517)
The "What is Money?" Show
The Art of Power: How Capitalism's Idealism is Undermined by Financial Fiefdoms
The intricate web of ownership among financial institutions reveals a troubling concentration of power wherein the top shareholders are primarily other financial entities. This leads to a scenario where fund managers, although they appear to exercise voting power, are ultimately beholden to a hidden cadre of bankers whose interests dictate corporate governance. This undermines the democratic ideals of capitalism, as the fiduciary duty of CEOs shifts from serving shareholders, i.e., the public, to aligning with the interests of powerful investment firms like BlackRock. Such dynamics create inherent conflicts of interest, notably when companies dealing in harmful products are legally obligated to prioritize their relationship with these finance overlords, fostering an environment where creating problems and then offering solutions becomes a lucrative cycle, effectively stripping away the collective power and rights of the public in favor of a select few. This systemic issue manifests a perverse distortion of capitalism, showcasing how its foundational principles are manipulated to serve a financial elite.
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