My sumptuous padlet by Maria Polychronis

What is Vanguard?

mcp249_ — 2023-11-16 19:34:09 UTC

Vanguard is a company that started in 1975, and it was originally created to make a more efficient way to manage a mutual fund company. John C. Bogle created this company merely because he had an idea that would benefit his clients. This company is now responsible for owning 88% of the S&P 500, owning about $7.7 trillion in global assets, and is used by millions of investors. When Vanguard is mentioned, the companies BlackRock and State Street tend to follow.

Conspiracies involving Vanguard.

mcp249_ — 2023-11-16 19:34:14 UTC

1) They refuse to help with "The Green New Deal" because it will lose them money.

2)They buy so much of the market for total control and majority of voting rights.

3)Vanguard puts itself first when making global decisions.

4)They are buying out people's mortgages.

What is BlackRock and StateStreet?

mcp249_ — 2023-11-16 19:37:08 UTC

BlackRock and State Street both run similar companies as Vanguard, and these three companies together are known as the “Big Three'' of Wall Street since they are the biggest shareholders in the market.

What is a conspiracy?

mcp249_ — 2023-11-16 19:37:59 UTC

“Conspiracy Theories” have a high chance of being untrue according to Quassim Cassam, a philosopher at the University of Warwick. They are simply a class of ideas, that the chances that they are true are so low that it is impossible to ignore them, so most people respond by critiquing the idealogy that they create instead of just ignoring them. Conspiracy theories can be viewed as “epistemically problematic” while they can also be viewed as not truly conspiracy theories due to them being easily dismissed.

Examples of a conspiracy?

mcp249_ — 2023-11-16 19:38:29 UTC

In this article, Quassim Cassam used examples such as the JFK Conspiracy and said how it can easily be dismissed.

What is the S&P 500?

mcp249_ — 2023-11-16 19:39:08 UTC

This is 500 of the largest companies listed on the Stock Exchange (in the United States).

mcp249_ — 2023-11-16 19:40:34 UTC

Why are these companies important?

mcp249_ — 2023-11-16 19:52:13 UTC

Vanguard, BlackRock, and State Street might have a significant impact on our daily life, but many are unaware of their existence.

Are ‘Conspiracy Theories’ So Unlikely to Be True? A Critique of Quassim Cassam’s Concept of ‘Conspiracy Theories’

mcp249_ — 2023-11-16 19:53:58 UTC

Conspiracy Theories involving Vanguard

mcp249_ — 2023-11-16 19:58:19 UTC

1) "The Green New Deal"

mcp249_ — 2023-11-16 20:05:57 UTC

There is a conspiracy theory that suggests that certain powerful individuals are making secret deals with influential people in the government and large oil companies to eliminate "The Green New Deal". An article titled "Vanguard lower support for environmental, social proxy proposals" suggests that Vanguard, a large investment management company, refused to support environmental protection measures citing that America causes more harm than good. This is suspicious, especially considering that Vanguard has the resources to help but chose not to support. It aligns with the conspiracy theory that Vanguard may have played a role in the Hawaii fires.

2)Buying up the market.

mcp249_ — 2023-11-16 20:07:56 UTC

Vanguard is heavily invested in companies like Apple, Google, energy companies, car makers, and the housing market. Since they buy such large amounts of stock, they have a significant ownership stake in these companies. As a result, other companies cannot own enough stock to have any control over the decisions that the investor makes. Vanguard had to make public statements to reassure people that they would have a voice in major decisions, but it's nearly impossible when the investor owns the majority of the stock.

3) Who is benefiting the most from Vanguard's decisions?

mcp249_ — 2023-11-16 20:08:42 UTC

Despite recent difficulties in the market, BlackRock and Vanguard continue to dominate the ETP index, managing two-thirds of its $4.7 trillion assets. This raises concerns about their level of influence in a highly competitive market where many companies are struggling to survive. With such a significant control over the market, these companies can impact our lives without our knowledge. They prioritize their own financial gain and are unlikely to assist anyone unless it benefits them.

4)Buying people out.

mcp249_ — 2023-11-16 20:10:59 UTC

There is a conspiracy theory circulating about Vanguard's recent activities involving the housing market. The company is being accused of buying houses at a low price and then inflating their value. It is alleged that they purchase the mortgages of single-family homes, make minor repairs, and then sell the properties for a much higher price. This practice reportedly allows them to take advantage of the existing market conditions and generate significant profits.

mcp249_ — 2023-11-16 20:15:17 UTC

What is a mutual fund company?

mcp249_ — 2023-11-16 22:02:46 UTC

Mutual fund companies are companies that collect money from many investors.

mcp249_ — 2023-11-16 22:22:04 UTC

-"BlackRock, Vanguard & State street owns the majority of stocks in Alphabet, Apple, Microsoft, IBM, Facebook, AT&T

-BlackRock, State Street and Vanguard hold $46 billion in debt and equity in oil companies currently operating in the Amazon rainforest."

-"$260 billion invested in fossil fuel companies around the world"

-"BlackRock & Vanguard combined holds in 19% of Philips 66, 21% in Valero Energy, 16% in ExxonMobil"

mcp249_ — 2023-11-16 22:31:23 UTC

mcp249_ — 2023-11-16 22:34:28 UTC

mcp249_ — 2023-11-16 22:38:41 UTC

mcp249_ — 2023-11-16 22:39:22 UTC

"Between January 2020 and January 2023, rents for a two-bed detached home increased about 44% in Tampa, Florida, 43% in Phoenix, and 35% near Atlanta. That’s compared with a 24% increase nationwide."

Mortgages

mcp249_ — 2023-11-16 22:52:32 UTC

To make a deal more efficient, big companies usually skip the hassles of getting a home loan through the banker, the company will just buy the existing mortgage.

Hawaii Fires

mcp249_ — 2023-11-16 23:06:39 UTC

There is a conspiracy theory that accuses Vanguard of deliberately starting the Hawaii fires that destroyed numerous buildings in the surrounding area. The theory claims that Vanguard did this in order to create cheap real estate. Instead of helping Hawaii recover from this tragedy with their wealth, Vanguard allegedly profited from the destruction they caused.

mcp249_ — 2023-11-16 23:09:43 UTC

Weinberg AI. BlackRock, Vanguard stay strong amid year of changes. Pensions & Investments. 2020;48(21):12-.

mcp249_ — 2023-11-16 23:29:30 UTC

mcp249_ — 2023-11-16 23:31:59 UTC