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We all know this happens everyday.
(lemmy.world)
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this post was submitted on 02 Nov 2023
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A Boring Dystopia
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I think people misunderstand what BlackRock does. It's a proxy for other investors. Investors all around the world buy assets, produced by BlackRock and BlackRock routes that money into corresponding shares/bonds/real estate, etc.
The word "Produced" is doing some heavy-lifting in that sentence. When I hear "produced" I think of a factory making stuff that has value or a farm producing food.
It’s a way more generic word than you might think
True, kinda like being "all natural".
I create software. Its not farm work nor is it physical but I can assure you I produce deliverables.
Whoosh
intransitive verb To bring forth; yield. "a plant that produces pink flowers." To create by physical or mental effort. "produce a tapestry; produce a poem." To manufacture. "factories that produce cars and trucks."
Sounds like the word fits just fine. The investment firm "brings forth" the investment opportunity that someone without financial advisors and millions to invest needs to get into real estate through eREITs. That opportunity wouldn't exist without them providing the service of connecting investors with and managing funds for the investments.
I believe in the classic Homer Simpson line this covers the "services" portion of "money can be exchanged for goods and services."
Gotcha mortgage backed securities. Well why not? Nothing ever goes wrong with those.
You must never leave your house in case a meteor falls from the sky, of drive because car accidents have occurred. Right? If something can go wrong or has the potential to be abused we should just never do it.
Whenever people like you actually come up with an alternative solution to make large scale infrastructure projects happen without investors you let me know, until then stop dragging down the collective IQ of the thread.
I mean you could at least acknowledge that he meant the 2008 crisis, and not act like he's a complete idiot. You should very much expect people to be wary of those after that.
They never do. You got to understand the fuckers who got bailed out are simultaneously so brilliant they deserve salaries in the tens of millions but so foolish that they couldnt see the crash coming. The wave function collapses when observed by the SEC into a state of need bailout or need more regulations that benefit them.
So freaken boring. Which are you? The welfare wall street type my tax dollars bailed out in 2008 or the welfare wall street type my tax dollars will bail out in the near future?
Neither, and you still haven't answered the problem of how we get things done without someone or a group of people funding it.
Is the answer you want me to give to be to give free money and no oversight to your Wall Street cronies?