The structural chain holds, Investment Company Act, 206(4)-6, Avon Letter, ERISA 403(a)(2), the apathy-multiplier math, Engine No. 1, and the $29.5M Vanguard settlement with the strict passivity commitments out of EDTX in February. Choosing the 1988 redefinition as the focal point is the right call. Well done.
Most coverage of asset-manager concentration glosses past it; you’re putting weight on the actual load-bearing joint.
Decontextualization names the operation of severing a word from the constraints that anchored its meaning — the bodies, positions, stakes the word answered to. Phoneme string survives. Referent migrates. The form can then be wielded against the population that built the original meaning.
The Avon Letter is decontextualization in one move. DOL took “vote” — a word answering to bodies, citizenship, embodied political agency — and re-anchored it to fiduciary asset class. Same word. Different thing. Everything downstream in your autopsy follows from that one severance, which is why the Avon Letter is the correct pivot.
“The friction is the feature” is the same operation at the UX layer. Voting Choice preserves the word “participation” while stripping the constraints that would let participation actually happen — time, energy, a body that isn’t already exhausted from selling itself by the hour. Form persists, function dies, the system points to the form when challenged.
The cranberry bogs and graveyard shift passage is doing architectural work too — pulls the body back into what would otherwise be an analysis of legal abstractions. The two registers stay coupled in your prose. That’s what an autopsy of extraction architecture has to do to avoid reproducing the pattern it’s diagnosing.
Extraction architecture at the asset layer. Looking forward to Episode 3.
The friction before the mass integration of stock “ownership” into employees retirement was that all the retail holders of record would get sent a postcard and they could vote if I remember correctly 3 ways. With the board wishes , or with certain policies or against. So the friction was very high. And the ability to consolidate all these shares into forced purchase of SP 500 funds certainly drove stock prices higher than they ever would have been without the change from defined benefits to defined contributions for retirement. The money was taken and nothing was promised but the hedge funds and institutional investors did exponentially better than the retail investors and the employees contributing to their retirement accounts. So to worry about the big 3 directing boards now seems to me to worry about the paper cut while the gaping chest wounds bleeds out. As always it’s a game where 99 percent of the people don’t get a chance to play.
There is that much dodgy shit going down that I fear single authors just can't get ahead of these bastards. This is the sort of thing that needs serialisation. Carriage. Dissemination. Its time for the resistance to unionise.
Wow. So interesting! I’m hoping that I’ll find out that you’re a quack so that I can go back to being numb. But what if you’re not a quack? Then I’ll have to wake up and get serious! I mean, this is about my money, and a lot of it! Hoo boy!
The main problem in the U.S. is the unshakable belief of ordinary Americans that the benefits of the "rule of the elite" will "trickle down" to everyone. They are conditioned to believe that wealth is magically created by the "elite" because the elite knows how to manage capital and it is better to have the crumbs than nothing.
Americans at large fail to understand that that most of the wealth of the "elite" is extracted from the working ppl all over the world, including Americans themselves, and the crumbs they enjoy are only an insignificant percentage of what has been taken.
Americans are having REALLY hard time realizing they have been exploited like cattle by their own "Elite".
So before the big consolidation of stock in 401ks which shot these companies value off the charts you had to send in voting proxy cards to vote your shares. I’m old and I remember. The friction to vote a 100 shares of a stock was definitely as great if not greater than what’s in place now. So the tradeoff of forcing all the middle class to “fund” their own retirement actually made a lot of people very rich and the middle class a little richer maybe. So when only institutional investors voted their shares and the retail didn’t bother how was the markets performance or is just a correlation without causation. It seems that self dealing was traded for the big 3 directing boards and is that actually true? Do they control the majority of board seats in the Fortune 500???
The structural chain holds, Investment Company Act, 206(4)-6, Avon Letter, ERISA 403(a)(2), the apathy-multiplier math, Engine No. 1, and the $29.5M Vanguard settlement with the strict passivity commitments out of EDTX in February. Choosing the 1988 redefinition as the focal point is the right call. Well done.
Most coverage of asset-manager concentration glosses past it; you’re putting weight on the actual load-bearing joint.
Decontextualization names the operation of severing a word from the constraints that anchored its meaning — the bodies, positions, stakes the word answered to. Phoneme string survives. Referent migrates. The form can then be wielded against the population that built the original meaning.
The Avon Letter is decontextualization in one move. DOL took “vote” — a word answering to bodies, citizenship, embodied political agency — and re-anchored it to fiduciary asset class. Same word. Different thing. Everything downstream in your autopsy follows from that one severance, which is why the Avon Letter is the correct pivot.
“The friction is the feature” is the same operation at the UX layer. Voting Choice preserves the word “participation” while stripping the constraints that would let participation actually happen — time, energy, a body that isn’t already exhausted from selling itself by the hour. Form persists, function dies, the system points to the form when challenged.
The cranberry bogs and graveyard shift passage is doing architectural work too — pulls the body back into what would otherwise be an analysis of legal abstractions. The two registers stay coupled in your prose. That’s what an autopsy of extraction architecture has to do to avoid reproducing the pattern it’s diagnosing.
Extraction architecture at the asset layer. Looking forward to Episode 3.
The friction before the mass integration of stock “ownership” into employees retirement was that all the retail holders of record would get sent a postcard and they could vote if I remember correctly 3 ways. With the board wishes , or with certain policies or against. So the friction was very high. And the ability to consolidate all these shares into forced purchase of SP 500 funds certainly drove stock prices higher than they ever would have been without the change from defined benefits to defined contributions for retirement. The money was taken and nothing was promised but the hedge funds and institutional investors did exponentially better than the retail investors and the employees contributing to their retirement accounts. So to worry about the big 3 directing boards now seems to me to worry about the paper cut while the gaping chest wounds bleeds out. As always it’s a game where 99 percent of the people don’t get a chance to play.
There is that much dodgy shit going down that I fear single authors just can't get ahead of these bastards. This is the sort of thing that needs serialisation. Carriage. Dissemination. Its time for the resistance to unionise.
Wow. So interesting! I’m hoping that I’ll find out that you’re a quack so that I can go back to being numb. But what if you’re not a quack? Then I’ll have to wake up and get serious! I mean, this is about my money, and a lot of it! Hoo boy!
lmao
The main problem in the U.S. is the unshakable belief of ordinary Americans that the benefits of the "rule of the elite" will "trickle down" to everyone. They are conditioned to believe that wealth is magically created by the "elite" because the elite knows how to manage capital and it is better to have the crumbs than nothing.
Americans at large fail to understand that that most of the wealth of the "elite" is extracted from the working ppl all over the world, including Americans themselves, and the crumbs they enjoy are only an insignificant percentage of what has been taken.
Americans are having REALLY hard time realizing they have been exploited like cattle by their own "Elite".
***
youtu.be/0V71NSM3A1A?t=110
youtube.com/shorts/ox7Qh_N8LwQ
Accountability? Not even close
The fine means nothing to vanguard
Exxon was cowardly falling for the scam
And Exxon has been scamming USA over gasoline prices which have nothing to do with Iran
Government should claw back all their excess profits
Is there anything they aren’t weaponizing??!! 😡
So before the big consolidation of stock in 401ks which shot these companies value off the charts you had to send in voting proxy cards to vote your shares. I’m old and I remember. The friction to vote a 100 shares of a stock was definitely as great if not greater than what’s in place now. So the tradeoff of forcing all the middle class to “fund” their own retirement actually made a lot of people very rich and the middle class a little richer maybe. So when only institutional investors voted their shares and the retail didn’t bother how was the markets performance or is just a correlation without causation. It seems that self dealing was traded for the big 3 directing boards and is that actually true? Do they control the majority of board seats in the Fortune 500???
Unless Exxon can produce receipts to prove they paid the gulf price for the oil they refined and sold
Claw back their exploitation