Let me throw you down another rabbit hole. The Blackrock and Vanguard hype is a lot of horse crap. It's people freaking out over a couple of large investment holding companies. You wanna see some REAL scary crap in the corporate world? Look into DTCC and Cede & company. The PRIVATE companies that own the property rights to every stock, bond, derivative, commodity, security, etc. sold in the US and most other nations with a Security Exchange.
Technically, we only own the "beneficiary" rights when we buy a security and they could revoke our right to buy and sale securities at any time if they wanted.
Oh, and there's only 12 employees at Cede & Company who process several quadrillion dollars in security trading a year.
I fully understand the purpose behind it, and support the platform given it would be impossible for modern security trading to take place otherwise, but the lack of transparency is what I find concerning.
It'd be more appropriate for it to be like Saudi Aramco. 98% owned by the banks and stock exchanges, as it supposedly is (Which I doubt is true), and then have like 2% available for purchase to the general public so they have to disclose all of their information due to technically being a publicly traded company.
Instead, there's an absurd amount of secrecy surrounding them and we're expected to just take the government and banks word on the matter.
Let me throw you down another rabbit hole. The Blackrock and Vanguard hype is a lot of horse crap. It's people freaking out over a couple of large investment holding companies. You wanna see some REAL scary crap in the corporate world? Look into DTCC and Cede & company. The PRIVATE companies that own the property rights to every stock, bond, derivative, commodity, security, etc. sold in the US and most other nations with a Security Exchange.
Technically, we only own the "beneficiary" rights when we buy a security and they could revoke our right to buy and sale securities at any time if they wanted.
Oh, and there's only 12 employees at Cede & Company who process several quadrillion dollars in security trading a year.
I fully understand the purpose behind it, and support the platform given it would be impossible for modern security trading to take place otherwise, but the lack of transparency is what I find concerning.
It'd be more appropriate for it to be like Saudi Aramco. 98% owned by the banks and stock exchanges, as it supposedly is (Which I doubt is true), and then have like 2% available for purchase to the general public so they have to disclose all of their information due to technically being a publicly traded company.
Instead, there's an absurd amount of secrecy surrounding them and we're expected to just take the government and banks word on the matter.