For nearly nine out of 10 companies listed on the S&P 500 stock exchange, their largest single shareholder is one of the “Big Three” investment firms: BlackRock, Vanguard, and State Street.
Managing more money than most small countries, these firms have an invisible foothold in virtually every sector of American society. But how did these paragons of capitalism turn into a Marxist Trojan Horse?
Two trends emerged in the aftermath of the 2008 financial crisis. One was a new type of investment that concentrated capital among a small number of firms. The other was left-wing activism in the style of Occupy Wall Street. Combined, these trends helped empower three firms to push much of the corporate wokeness that is so common today. (RELATED: ‘I’m Ashamed’: BlackRock CEO Says He’s Ditching The Left’s Favorite Buzzword For Woke Investing)