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Reply #2: The disparity is even greater when you take CONTROL and DECISIONS into account... [View All]

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FormerDittoHead Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-02-08 11:22 AM
Response to Original message
2. The disparity is even greater when you take CONTROL and DECISIONS into account...
Edited on Tue Dec-02-08 11:25 AM by FormerRushFan
While the middle class does own considerable corporate wealth, they don't have ANY say about corporate policies or behavior.

To make this even worse, I have never known pension or mutual fund managers to take an active part in corporate decisions, even though, for example, as an agent, Fidelity owns trillions in corporate wealth. I am unaware of Fidelity, for example, ever exercising any influence on the companies which they own shares in.

This last part about mutual funds is the worst because, assuming that most middle class people own stocks through one of those diversified plans, even if the middle class were united somehow in influencing corporate policies (e.g.: CEO compensation) by owning mutual funds, the individual investors are given ABSOLUTELY NO VOTE WHAT SO EVER (let alone a minority vote) in how companies are run.

The very few own the vast majority of corporate wealth, but even more so, they *CONTROL* virtually 100% of it. And consider that when they make decisions, WHOSE benefit are those decisions for? I would suggest that the answer to that would be radically different if you're worth hundreds of millions...
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