Why Did Mega-Corporations Accept COVID-19 Lockdowns?

Larry Fink of BlackRock, Youtube
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Three men, Larry FInk, Joseph Hooley, and Mortimer Buckley are the CEOs of BlackRock, State Street, and the Vanguard Group that are the ‘Big-Three’ investment firms that are said to own corporate America. These investment firms have nearly $11-trillion in assets under management and supervise 40% of all publicly listed firms in the United States. In 2015, these companies employed more than 23.5-million people. That may have something to do with why so many large, publicly-traded corporations shut down, rolled over, and obeyed the wishes of the Big Three, despite the economic devastation it caused. BlackRock, State Street, and the Vanguard Group are heavily invested in the medical, pharmaceutical, and vaccine industries, all of which stand to enjoy obscene profits from treatments for the flu – renamed COVID-19. -GEG

Airlines, hotel chains—you name it, they all folded when the lockdowns were imposed. They closed up shop, they took a knee, they opted for bailouts. Why?

The CEOs of these corporations are supposed to be hard chargers and ruthless operators. Why didn’t they rebel?

I could cite several reasons. Here I want to focus on a little-known and staggering story.

It starts with an analogy. Imagine an employee of a company who is motivated to speak out against the lockdowns and go public. Then he thinks about the owner of the company. That owner happens to sit on the board of a large hospital.

Uh oh. That owner is SOLIDLY WIRED into official medical reality. He isn’t going to appreciate a naysayer who says the lockdowns are a ridiculous and destructive overreach. Better to stay quiet. Better to fit in and go along.

Okay? Well, it so happens that three of the most powerful corporate bosses in America DO have deep connections to major hospitals, and these three men run corporations that OWN CORPORATE AMERICA.

What?

The three men are Larry Fink, Joseph Hooley, and Mortimer Buckley.

Buckley is the CEO of the Vanguard Group. Hooley is the CEO of State Street. Fink is the CEO of BlackRock.

These three companies are investment funds. Financial services companies.

Buckley is a board member of the Children’s Hospital of Philadelphia. From 2011 to 2017, he was chairman of the hospital’s board of trustees. Hooley serves on the president’s council of the Massachusetts General Hospital. Fink is the co-chair of the NYU Langone Medical Center board of trustees.

Let’s look at their companies: State Street, BlackRock, and Vanguard—known as The Big Three. The reference is an article at theconversation.com, “These three firms own corporate America,” 5/19/17, by Jan Fichtner, Eelke Heemskerk, and Javier Garcia-Bernardo.

“Together, BlackRock, Vanguard and State Street have nearly US$11 trillion in assets under management.”

“We found that the Big Three, taken together, have become the largest shareholder in 40% of all publicly listed firms in the United States.”

“In 2015, these 1,600 American firms [the 40%] had combined revenues of about US$9.1 trillion, a market capitalisation of more than US$17 trillion, and employed more than 23.5 million people.”

Read full article here…

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2 months ago

The huge corporations temporarily shut down some operations because the federal reserve will keep them in business. In contrast, medium and small corporations will be driven out of business, leaving huge corporations on the receiving end of even more spending than before.