Dark Money Capture of Politics and Public Discourse
Institutions must be held accountable for authenticity and integrity in the institutional exercise of their institutional authority. Otherwise, society breaks down.
The Financialization of Fiduciary Money severs accountability of Pensions & Endowments for the consequences of the choices that the Asset Managers they hire to trade on share prices for them. Asset Managers are not accountable because that is not their job: they are experts in share price movements in the share price trading market, and they are correctly accountable only for the professional exercise of that professional expertise.
Tens of trillions of society’s shared savings aggregated for very consequential social purposes flow freely into the economy without ties of accountability to society for achieving their social purpose.
The Markets become accountable only to their own logic of numbers and prices, and growth in share prices. So, also, the corporations whose share are traded in those markets, who find themselves at odds with society over the choices they are forced to make to keep their share price always going up to satisfy the unsatisfiable demand of a financialized fiduciary money dominated market for share price growth and profit-taking opportunities in the short term.
All of society is being made to dance to the tune of the trading tape.
By rights, too often these corporations should not be doing what they are doing. But the are caught in a squeeze. So they cheat.
They have lots of money to spend, and the spend it in surreptitious ways, attempting to alter public discourse and change the social norms to make their bad behavior good.
But their bad behavior is not good. It is bad. If they are transparent about it, others will see that. So they are not transparent. They go dark.
They hide the ways they spend their money to influence politics and public discourse, so the public does not see what is really going on.
Until it is too late.