In this episode of the Money Stuff Podcast, the hosts dive into the antitrust lawsuit targeting top asset managers like BlackRock, Vanguard, and State Street. They explore whether the firms' ESG efforts cross the line into antitrust violations, considering claims that their influence on coal companies to cut emissions has led to inflated coal prices. The conversation also touches on a proposed solution to mitigate index funds' control over corporate voting—implementing a lottery-based shareholder assembly system. Additionally, the episode examines BlackRock's recent acquisition of HPS, a significant player in private credit, and what this means for the future of private markets. Throughout the discussion, the podcast sheds light on the intricate nature of antitrust law and the changing landscape of corporate governance led by large asset managers.
