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originally posted by: jadedANDcynical
a reply to: Aallanon
re: Blackrock, "Cheryl Mills, BlackIvy, & BlackStone," by yours truly showcases Blackrock and some of it's people.
NOTE: As of 2016 listings 'No Name' had at least 3 Blackrock iShare accounts.
www.opensecrets.org...edit on 10-5-2018 by IAMTAT because: (no reason given)edit on 10-5-2018 by IAMTAT because: (no reason given)edit on 10-5-2018 by IAMTAT because: (no reason given)
The Federal Retirement Thrift Investment Board currently contracts BlackRock Institutional Trust Company, N.A. (BlackRock) to manage the F, C, S, and I Fund assets. The F and C Fund assets are held in separate accounts.
One of the bigger drags on the federal budget is the cost of paying for everyone’s retirement. No, not Social Security—I’m talking about the gold-plated pensions for the millions of current and former employees who work for Uncle Sam.
This is where being a steady donor to politicians can pay off big time. BlackRock BLK, +0.92% , the financial behemoth with nearly $5 trillion in assets under management, already manages billions in assets of non-defense federal employees. Now, it’s in a prime position to profit much further, because the biggest single group of federal employees— those who serve in the military—are likely to see their retirement plan change, and change in a way that will further enrich BlackRock.
Why BlackRock? Aside from the fact that it’s a world-class asset manager, it doesn’t hurt that Laurence Fink, the investment firm’s chairman and CEO, has been a longtime contributor to Obama, and was considered at one point a possible successor to then-Treasury Secretary Timothy Geithner. Fink also has strong ties to Hillary Clinton, appointing her longtime confidant and counselor Cheryl Mills to his board in 2013. All told, more than 4/5 of Fink’s political contributions have gone to Democrats, and the Center for Responsive Politics notes that BlackRock employees in general have tilted towards the Dems.
What do proposed changes in the military retirement system have to do with BlackRock, you ask? In a nutshell, if you’re in the military right now, you have to serve 20 years to qualify for a pension. Only one in six service members make it that far, meaning the vast majority—who put their lives on the line for us—receive nothing when they’re discharged (they do get other benefits such as health care through the Veterans Administration—but no pension).
The Defense Department wants to change this. It has traditionally invested its pension funds in U.S. Treasury bills while offering defined pension guarantees to veterans—again, those who make it to the 20-year mark. Now, it’s proposing to reduce guaranteed pension levels by 20%—while rolling out a 401(k)-style retirement plan for all service members, with a government match. These funds would be invested with BlackRock—generating huge fees for Fink & Co. If the proposed changes to the Pentagon’s retirement system are approved by Congress (a bill was been introduced in a House subcommittee this spring) and signed into law by Obama, they’ll get their hands on an estimated $91 billion over the next 25 years. Of course it’s worth noting that BlackRock’s institutional side already manages billions in assets of other federal employees through four separate index funds.
And here’s the part where BlackRock really stands to cash in: under the military’s current pension plan, BlackRock receives no fees to manage funds held in Treasurys. The new plan would force service members to pay fees—either to the government or (as BlackRock prefers) to BlackRock itself.
originally posted by: ketsuko
originally posted by: Aallanon
a reply to: Perfectenemy
Is that a ship?
originally posted by: RelSciHistItSufi
a reply to: IAMTAT
So the implication is that "We don't say his name"'s $19m in Singapore might be invested in this EIDO fund?
originally posted by: Perfectenemy
Slightly OT but if someone knows a symbol like a V with 3 circles please hit me up. It's a V with a circle above both lines that form the V and beneath the middle where the lines of the V converge.
originally posted by: ketsuko
a reply to: liveandlearn
The speculation is also that McMaster's father died of a fall which is also often the result of loss of balance or failure to retain position as a result of loss of balance related to your inner ear.
I had a relative who suffered terribly from a type of dementia that also led to badly eroded inner ear and balance.