Neurosurgeon Found Shot Dead, Wrapped in Blanket in Attic

The death of neurosurgeon Dr. Devon Alan Hoover has left the Detroit, Michigan, community in shock.

On April 23, he was found shot multiple times in the head. He was then wrapped in a blanket and placed in an attic crawl space at his Boston Edison neighborhood home.

On Friday, April 28, Detroit Police Chief James White announced that police had taken a person of interest in the case into custody on an unrelated warrant.

Chief White did not provide any further specifics due to not wanting to jeopardize the prosecutors’ murder case. But White indicated that investigators are certain that the unidentified person of interest “knows something about what occurred” and that Dr. Hoover was killed by someone he knew.

Dr. Hoover was highly respected among his peers, having been nominated as one of the best in his field in Hour Detroit magazine’s 2008 “Top Docs” rankings.

The Indiana-born neurosurgeon was board certified and specialized in treating neck and back disorders. His medical training was completed at Indiana University School of Medicine. He completed residencies at Henry Ford Hospital in Detroit and fellowships in peripheral nerve surgery at Louisiana State University School of Medicine and pediatric neurosurgery at Children’s Hospital of Michigan.

Dr. Hoover was one of seven siblings, the fourth born to his family affectionately nicknamed “the three little ones.” He worked on the family dairy farm until he went to college.

The investigation into Dr. Hoover’s death is ongoing, but Detroit police are encouraged by the promising leads acquired from the person of interest in custody. Community members, family, and friends pray for justice for the valued neurosurgeon and his loved ones.

Barbra Streisand to receive ‘Jewish Nobel’ award

The Genesis Foundation is honoring the famed singer, actress, director and activist in celebration of its 10th anniversary.

By Batya Jerenberg, World Israel News

Legendary Jewish performer Barbra Streisand will receive a special Genesis Prize in October in celebration of the 10th anniversary of the foundation behind what has been dubbed the “Jewish Nobel,” its founder and chairman announced on Tuesday.

Stan Polovets called the 81-year-old Streisand “one of the world’s most beloved and admired performers” in his statement to the press.

This was not the only reason the Genesis Foundation was honoring her, however. The criteria for the annual $1 million award is that the “individuals who have attained international renown in their chosen professional fields are proud of their Jewish heritage, care about the future of the Jewish people and the State of Israel, and inspire young people to make the world a better place,” as their website states.

Streisand hits all those marks, Polovets said.

“In addition to delighting audiences all over the world for the past six decades with her amazing talents, Barbra has dedicated her time, resources, and passion to numerous important causes, speaking out whenever and wherever she saw injustice. Her sense of responsibility to heal the world grows out of her Jewish values and her Jewish identity, which Barbra has displayed proudly since the very beginning of her extraordinary career.”

The former singer-actress-director-activist had received tens of thousands of votes over the years for the prize, with anyone who feels a connection to the Jewish world being able to participate in nominations and voting, according to the Foundation’s rules.

Streisand said she was “delighted” by the news.

“I am delighted to be honored by the special 10th-anniversary Genesis Prize and to work with The Genesis Prize Foundation to support organizations that seek to better society and our shared humanity,” she said.

“I am very proud of my Jewish heritage and have always been moved by the Jewish tradition of tikkun olam to repair the world,” she added. “I hope to join and inspire others in their own commitment to build a better world.”

Former New York mayor and Genesis Prize winner Michael Bloomberg was effusive in his praise for the newest honoree.

“Barbra Streisand’s passionate commitment to tikkun olam makes her an incredibly deserving recipient of the Genesis Prize,” he said.

“From her groundbreaking leadership on women’s health, to her longstanding support for stronger gun safety laws, to her invaluable partnership revitalizing Lower Manhattan through the soon-to-open Performing Arts Center at the World Trade Center, Barbra has made an enormous impact on her native New York and far beyond. She has used her voice – on and off the stage and screen – to inspire generations, and I’m glad to join her fans worldwide in congratulating her.”

Laureates traditionally give away their prize money. Streisand has requested that the Foundation distribute her winnings to nonprofit organizations that protect the environment and promote women’s health – two issues she has been involved with for years – as well as those that battle against disinformation in the media and help the people of Ukraine.

The Foundation’s regular prize will also be divided among several organizations and activists that have been supplying humanitarian aid in Ukraine ever since Russia invaded the country 14 months ago.

In what is perhaps a nod to Streisand’s physical condition, the prize will be given to her in a ceremony in her hometown of Los Angeles instead of its usual venue, Israel. While providing no details, the foundation’s spokesperson said it was “a joint decision” by both parties, and “has nothing to do with the situation in Israel right now.”

Streisand has not performed or traveled abroad in years. She was last in Israel a decade ago, when she sang in a star-studded event in honor of then-President Shimon Peres’ 90th birthday and gave two additional concerts.

The post Barbra Streisand to receive ‘Jewish Nobel’ award appeared first on World Israel News.

‘KHAYBAR, KHAYBAR’: Palestinian children honor terrorist, call for Jewish genocide

The chant, “Khaybar, Khaybar, oh Jews, the army of Mohammed will return,” heard at numerous anti-Israel demonstrations around the world, is in fact call for genocide.

As explained by the ADL, “Khaybar is a historic Arabian oasis north of Medina in present-day Saudi Arabia that is religiously significant for Islamic history. This slogan recalls a series of seventh-century battles between Mohammed and local Jews during the first few years of Islam’s establishment.

“As retold in the Quran and other textual sources, Mohammed’s forces took action against Khaybar in response to purported acts of Jewish treachery.  Ultimately, these battles resulted in the subjugation, mass expulsion, or slaughter of the area’s tribal Jewish communities.”

In this video, Palestinian children attend a memorial honoring Palestinian Islamic Jihad terrorist Khader Adnan, who died in an Israeli prison Tuesday morning after an 86-day hunger strike, during which he refused food and medical aid.

Well, it’s “Khaybar, Khaybar O Jews” time of the day | WATCH

During press-covered honoring of the genocidal Islamic Jihadist: Nazi Palestinian crowd chants genocidal incitements against Jews

Naturally, the child abusing attendance of indoctrinated kids is, of course, mandatory. https://t.co/9663uKJ0Xj pic.twitter.com/7jhMnjenrK

— Adam Albilya – אדם אלביליה (@AdamAlbilya) May 2, 2023

The post ‘KHAYBAR, KHAYBAR’: Palestinian children honor terrorist, call for Jewish genocide appeared first on World Israel News.

European Union official assures Israel: No funding for Palestinian incitement and terror

“I agreed with Commissioner Varhelyi that the European Union will not transfer budgets to the Palestinian Authority that will be used for incitement against Israel.” – Foreign Minister Eli Cohen.

By Dion J. Pierre, The Algemeiner

The European Union assured Israel on Tuesday that its aid to the Palestinian Authority (PA) will not fund terror groups and programs inciting violence against Israel, in remarks first reported by i24News.

EU Commissioner for Neighborhood and Enlargement Oliver Varhelyi made the commitment to Israeli Foreign Minister Eli Cohen during his diplomatic meeting to Belgium, which included a session with European Parliament President Roberta Metsola.

“I agreed with Commissioner Varhelyi that the European Union will not transfer budgets to the Palestinian Authority that will be used for incitement against Israel,” Cohen announced after the meeting. “Israel is not opposed to aid to the Palestinian Authority, but we will not allow a situation in which these budgets go indirectly to terrorist activity or incitement against Israel.”

Officials with the EU Commission did not return The Algemeiner’s request for comment.

Cohen added that he and Varhelyi discussed commissioning a study on antisemitism in Palestinian textbooks, a follow up to a 2019 report by the George Eckert Institute for International Textbook Research that analyzed 156 PA textbooks and found that they trafficked in antisemitic tropes, glorified terrorists, omitted references to Israeli-Palestinian peace-agreements, and excluded Israel from maps of the region.

Some of the examples of the antisemitic material provided to children living in territory controlled by the Palestinian Authority include study cards for 11th graders accusing Jews of being “in control of global events through financial power,” seventh graders instructed to describe Israeli soldiers as “Satan’s aides” in a textbook chapter imploring Muslims to “liberate” the Al-Aqsa Mosque, according to Israeli education watchdog Impact-se — in educational materials

Teachers and staff working at Palestinian schools, who are funded by money the EU gives to the United Nations Relief and Works Agency (UNWRA) also promote antisemitism and hate on social media and in the classroom, a report issued by Impact-se in March said, citing over 200 examples of the problem.

UNRWA which received over $511.5 million in funding from the European Union and United States in 2021. In May, the EU announced that it would contribute $266 million to the agency through 2024.

The post European Union official assures Israel: No funding for Palestinian incitement and terror appeared first on World Israel News.

WATCH: More missiles fired at Israel, children in Sderot terrified

The IDF has confirmed that the firing of seven mortars Tuesday evening from the Gaza Strip into Israeli territory were detected, Tazpit Press Service reported. Some of the mortars failed and landed in the Gaza Strip, and some landed near the perimeter fence on Israel’s side of the border.

You can hear the terror of these crying children in Sderot as they take cover from rockets fired by terrorists in Gaza.

You can hear the terror of these crying children in Sderot as they take cover from rockets fired by terrorists in Gaza. pic.twitter.com/H2nAM8OW0i

— Aviva Klompas (@AvivaKlompas) May 2, 2023

The post WATCH: More missiles fired at Israel, children in Sderot terrified appeared first on World Israel News.

We Don’t Just Need Medicare for All — We Need a National Health System

The founders of Physicians for a National Health Program put single-payer health care on the map. Now, discussing the next phase of the movement, they say even single-payer won’t be enough to fix the problems caused by continued privatization.

Patients rest in a hallway in the overloaded emergency room area at Providence St Mary Medical Center on January 27, 2021 in Apple Valley, California. (Mario Tama / Getty Images)

Physicians for a National Health Program (PNHP) emerged thirty-five years ago amid the austerity cuts of the Reagan administration, which threatened to hollow out critical social safety-net programs like Medicaid. Rather than marshaling physician support to defend the limited (albeit lifesaving) poverty program, PNHP opted instead to pour its energies into expanding the possibilities of what health care reform could look like in the United States. From its inception, PNHP has committed itself to securing universal, comprehensive single-payer national health insurance. Under a single-payer system, all residents of the United States would be covered for all medically necessary services paid for by progressive taxation.

Since the turn of the twentieth century, both US political parties have faithfully accommodated private interests in their proposed health policy reforms. When doctors David Himmelstein and Steffie Woolhandler cofounded PNHP in the 1980s, support for single-payer health care was largely restricted to the radical left and a handful of progressive policy analysts. The doctors’ belief in health care as a public good emerged from their left-wing commitments and their personal experiences having witnessed the unnecessary suffering of patients in the current system. Later, as researchers, they published groundbreaking studies exposing private insurers’ administrative bloat, waste of resources, and widespread denial of care, revealing a health system in desperate need of transformation.

Writing in the Annals of Internal Medicine in 1988, Woolhandler and Himmelstein offered an explicitly Marxist understanding of the political economy that drives American medicine, a system of extraction that generates profit at the expense of patient health and physician autonomy. The authors envisioned an alternative health care system in the United States that would meet the needs of people, not corporations. “A reorientation of policy will require an alternative coalition of forces capable of resisting the imperatives of pecuniary interests,” wrote Wooldhandler and Himmelstein. “Physicians together with other health care workers and our patients may provide such a force.”

Unfortunately, the diagnosis is now even more dire than it was when PNHP was founded. The bad actors are no longer limited to private health insurers; American medicine is inundated by a powerful assortment of private interests from Big Pharma, giant hospital corporations, and private equity firms. Even retail giants like Walgreens, CVS, and Walmart are in on the grift. The private takeover of American medicine imperils the financial and physical health of millions of Americans. Suffice it to say that the prescription offered by PNHP’s physician-researchers remains as necessary today as it was thirty-five years ago.

For physicians and medical students fed up with the status quo, PNHP and its student wing SNaHP represent vital counterpoints to organizations allied with private interests such as the American Medical Association. PNHP today claims twenty-five thousand members representing all fifty states, with local chapters throughout the country. Data analysis by Himmelstein, Woolhander, and other researchers empowers PNHP members to make an evidence-based case for transformative health reform to their patients and their physician colleagues. Working alongside other single-payer standard-bearers like National Nurses United and Democratic Socialists of America, PNHP helped make single-payer, more popularly known as Medicare for All, a household concept. A 2020 Pew survey found that more Americans favor a single-payer system than any other option.

For Jacobin, Jonathan Michels sat down with Woolhandler and Himmelstein to commemorate PNHP’s thirty-fifth anniversary. They discussed PNHP’s inception, how the organization helped propel national health insurance back into the political debate, and the ways single-payer advocates must adapt for the next phase of the movement.

Jonathan Michels

You cofounded PNHP during the rise of neoliberalism in the 1980s. Why did you choose to focus your energy on securing national health insurance at a time when single-payer health care was not really on the table?

It was obvious that the financing of the health care system was interfering with the actual practice of medicine.

Steffie Woolhandler

I was close to the end of my training as a doctor, and it was obvious that the financing of the health care system was interfering with the actual practice of medicine. The financing system was one of the things that was preventing my patients from getting the care they needed, and preventing me from delivering the quality of care I wanted to deliver. So that was really what motivated me.

David U. Himmelstein

The Reagan administration was assaulting the care of particularly poor people, and encouraging corporate growth. A number of us who were activists had spent some energy trying to oppose savage Medicaid cuts, and concluded that Medicaid and the targeted programs for the poor were indefensible. They were the worst health care programs of any developed nation, and we couldn’t fight Reagan by defending a lousy program that only helped part of the population. A broad cross section of people in the country were in deep trouble, and strengthening Medicaid would do little for them. At that point we had a number of people, particularly in the Boston area, turn to advocacy for much more radical reforms.

We were working in Boston with a group called the Gray Panthers, a radical elders’ group that a woman named Maggie Kuhn from Philadelphia had founded some years before. In the 1960s and 1970s there had been disagreement between those who advocated for a national health service, where the government would own all of the health facilities and employ the health workers directly, and those who advocated for national health insurance, where the government would take over only the insurance. We wanted to avoid that fight, so we chose a different term: national health program.

Jonathan Michels

What was the impetus for the creation of PNHP?

David U. Himmelstein

The triggering event was that the Gray Panthers and the groups we were working with were putting on the Massachusetts ballot a referendum instructing (in a nonbinding fashion) their congressional representatives to vote for national health insurance. We were afraid that the Massachusetts Medical Society would come out in opposition to that ballot initiative, and we thought we needed to rally more physician support for national health insurance. In June of 1986, there was a conference of clinicians caring for the poor at a left-wing conference center in New Hampshire. We went to that conference with a plan to propose the formation of a group of physicians for a national health program.

We couldn’t fight Reagan by defending a lousy program that only helped part of the population.

Jonathan Michels

Did any individuals or organizations provide a template for PNHP? I see obvious parallels between PNHP and groups like the Medical Committee for Human Rights, whose advocacy work eventually included making demands for universal health care.

David U. Himmelstein

Well, Steffie and I were both the progeny of the radical left of our generation. I had gone to my first two years of college in Montreal, partly out of fear that I might need to stay there because of the draft, and was actively involved in the radical left and Montreal anti–Vietnam War work. Steffie actually dropped out of college to organize outside a military base in Killeen, Texas. So we were very much on the Left from our mid- and late-teen years on. The Medical Committee for Human Rights was largely fading by the time I was in medical school, so it didn’t have directly a big influence on me, although I knew a number of people who had been active in that and remained active on the Left in medical circles.

I think we were more influenced by the women who were the remains of the Black Panther Party in Oakland, who had formed a group called the Coalition to Fight Infant Mortality. When we were interns and residents at the public hospital in Oakland, we collaborated with them in efforts to improve the maternity services and prenatal care available to the black community. One lesson from that was understanding that systematic research could be a useful piece of advocacy work. One of our earliest research projects was documenting a large number of people refused care at private hospitals in the Oakland-Berkeley-Alameda County area, who were then sent to the public hospital emergency room often in grave condition. That was more formative for us than what really were the remains of the previous generation of the Left in health care.

Jonathan Michels

Why did you decide to focus specifically on mobilizing physicians rather than forming a broader coalition of health care workers?

David U. Himmelstein

We went with a physician group not just because we saw the need for it, but because we were convinced that the possible reach into the physician community would be much greater if there were a physician group. It was initially formed and the stationery was printed up as Physicians for a National Health Program, a component of the Network of Health Professionals for a National Health Program, and we actually had “NHP squared” stationary printed up.

Our hope was that other health professionals would have their own groups that would form part of a broader coalition. There were some nurses, including some from that conference, who tried to put together Nurses for a National Health Program and social workers who tried to put together Social Workers for National Health Program, but they never really flew.

Jonathan Michels

How did the physician community react to the creation of PNHP?

Steffie Woolhandler

The fact that we were able to garner so many members speaks to other physicians feeling something similar. There were a lot of physicians who wanted to focus on how we could change the financing and delivery so that the doctors could actually do their jobs and the patients could get the care they needed. That really helped crystalize some of the feelings that people had — that they were being blocked from doing their job.

Jonathan Michels

Can you describe the process of drafting and publishing the first physicians’ proposal for a national health program, and how that elevated PNHP’s status in the media and within the medical community?

David U. Himmelstein

Having a concrete proposal published in the New England Journal of Medicine lent tremendous gravitas to the organization and made it very much mainstream in the physician community. In the meantime, we had developed templates for talks that people could give, which were recognizably similar to the kinds of talks that doctors were used to hearing but took a different tack politically. They had slides presenting data quantitatively and making the case in very systematic, evidence-based ways that doctors were comfortable with.

They had slides presenting data quantitatively and making the case in very systematic, evidence-based ways that doctors were comfortable with.

We’d been reaching out to colleagues in a small way, but the New England Journal article really put the organization on the map in a very different way, and also put us on the map in the public media. We were invited onto the major news shows of the time. There were two other proposals published for health reform around the same time, and we were often on with those folks. We were very happy when people started characterizing our view as one representing the doctors and assigning us that role.

Jonathan Michels

How did you end up working with Representative John Conyers to craft HR 676, which was introduced into Congress in 2003?

David U. Himmelstein

After the New England Journal of Medicine article, we subsequently thought we needed a second bite of the apple. We published further proposals in various journals for elements of a national health program: a quality improvement proposal that was published in the Journal of the American Medical Association (JAMA) that Dr Gordy Schiff led the development of, and a proposal for reform of long-term care that Charlene Harrington, a nursing professor and nurse herself at University of California at San Francisco, led the development of.

After that, we thought we needed to restate the original case, because it had been a while since the New England Journal piece. The JAMA had a call for papers about health reform, and we drafted a slightly revised version, particularly addressing the alternative proposals for reform that were circulating at about that time, which was early in the Clinton administration. It was that proposal that Conyers actually picked up as the basis for his plan.

In the interim, in 1990 Steffie had gotten a fellowship financed by the Robert Wood Johnson Foundation. It had a policy fellowship where mid-career health professionals were assigned to some branch of government for a year in Washington as health-policy advisors. Much to the consternation of the people who ran the fellowship for the Robert Wood Johnson Foundation, she decided to take her assignment with Bernie Sanders, who was then a first-term congressman from Vermont, and Paul Wellstone, who was a newly elected senator from Minnesota.

Meanwhile I had been in touch with Conyers’s office, and was supposed to work with his committee on the fiscal impact of single-payer reform. At the last minute, they decided that my continuing role as a leader of PNHP was probably not compatible with working for the committee. So I instead got a part-time job working with Ralph Nader’s and Sidney Wolfe’s Public Citizen’s Health Research Group, and spent that year in Washington, really working in Congress as an advocate for single-payer health care. I got to know the Conyers people not as a staff person, but as an outside lobbyist.

So Steffie and I had fairly close connections in Congress. And when the JAMA piece was published, Congressman Conyers reached out and said we should put in a bill of that. So basically, the bill was drafted almost verbatim from the JAMA piece.

Jonathan Michels

History shows us that it is often corporate Democrats, not Republicans, who impede efforts to secure single-payer health care, whether it is through outright opposition or watered-down reforms like the Affordable Care Act (ACA) that entrench private health insurance.

In a little-known yet important act of civil disobedience, several PNHP members, including doctors Margaret Flowers and Carol Paris, were arrested in 2009 protesting Democratic senator Max Baucus’s refusal to allow single-payer advocates to take part in a committee hearing on health reform.

Reflecting on the subsequent passage of the ACA over the objections of PNHP members, how do you process the betrayal of the single-payer movement by mainstream Democrats?

David U. Himmelstein

Well, we were very disappointed by the ACA. It was a terrible plan. Better than nothing, but you know, it basically adopted Nixon’s proposal from 1971, which was offered as a counter to Ted Kennedy’s national health insurance plan and had been taken up by the right wing and the Republicans in Congress. We had hoped for much better, obviously.

When Dr Ron Sable died from HIV, Dr Quentin Young, who was a mainstay of the medical left in Chicago when he was still practicing, took over as PNHP’s national coordinator from Ron. One of Quentin’s patients was Barack Obama. Quentin was extremely hopeful about who he referred to on a first-name basis as Barack.

The rest of us were maybe more realistic about it. We were pretty sure that the Democrats wouldn’t, at that point, countenance radical reform. I mean, we’d seen it with the Clintons. Bill Clinton was the first Democratic candidate to abandon national health insurance as part of his platform. Quentin had actually led a sit-in outside the Democratic National Convention that nominated Clinton, protesting the pulling of national health insurance from the platform. So we were pretty realistic about how the mainstream of the Democratic Party would behave.

We were pretty sure that the Democrats wouldn’t, at that point, countenance radical reform.

Jonathan Michels

You coauthored a 2022 editorial published in the Nation arguing that Medicare for All is not enough to ameliorate the damage inflicted by the upsurge in hospital consolidations, the incursion of private equity in physician practices, and the steady privatization of critical public programs like traditional Medicare.

Instead, you write, “A transition to public, community-based ownership — a reform model generally labeled National Health Service (NHS), in contrast to [National Health Insurance] — seems the most appropriate solution.” Can you explain what has changed over the last thirty-five years to prompt this shift in your perspective?

Steffie Woolhandler

There’s two countervailing things going on. One is that giant for-profit corporations have a much stronger hold on the health care system than they did when we started PNHP. So when we started, we were mostly up against the insurance industry and pharmaceutical industry. But now there’s all sorts of involvement by banks and for-profit ownership of health providers, so that makes things harder.

The other thing is that the health care system continues to be so dysfunctional. People with or without insurance face massive medical bills, the complete inability to afford lifesaving treatments like insulin and sometimes cancer treatments. The growing dissatisfaction among doctors is now often called burnout or sometimes moral injury. Whatever you call it, physicians recognize that the system’s not functioning very well. So the system’s own problems and dysfunctions continually create an interest in and constituency for fundamental health reform.

Giant for-profit corporations have a much stronger hold on the health care system than they did when we started PNHP.

David U. Himmelstein

We need to have a deep understanding of what the problems in the current system are, and the shifts in the organization of the current system need to guide both our program and our political work. So I think we need to update what the vision of single-payer health care is from when we first conceived of it.

We thought we could control the health care system by replacing insurance companies with a single public financing system. And I think that was true as long as health care was essentially carried out by small-scale practices, mostly individual hospitals, that were not parts of large chains, not controlled by giant corporations. But at this point, we have the vertical and horizontal integration of ownership of the health care system. So for instance UnitedHealthcare employs seventy thousand doctors. Just taking away the insurance business isn’t going to be an adequate reform of the health care system.

We need to reconsider our reforms to think about how we seize ownership of health care assets from the corporations that have come to dominate them, and how patients and people doing health care work can really take ownership of this system. I don’t think it’s possible any more by just taking control of insurance. I don’t see a lot of advocacy for radical reform of the health care system, and that I think is the next phase that either PNHP or some new form will need to take up.

Jonathan Michels

What lessons can you share with your experiences of being at the forefront of the movement for national health insurance throughout the last several decades?

David U. Himmelstein

One is that the Democrats are generally much better when they’re in opposition than when they’re in power. We need to build a power base outside the Democratic Party that’s able to push it. We can’t possibly rely on it to be our main standard-bearer. The party reflects popular opinion; it doesn’t lead it.

A second is that we need to have a program that is going to improve the situation for the vast majority of the population, not just the poor. We can’t actually be in a position of defending the existing health care program. I’ve always been uncomfortable with the term “Medicare for All” because I think Medicare is a very problematic program. It doesn’t cover much of the care that the elderly and disabled actually need, and it has adopted really defective payment mechanisms. It pays hospitals in ways that encourage profit-making and all kinds of bad behaviors. So I think we shouldn’t be in a position of defending elements of the existing health care system, even those that have some positive aspects. Certainly Medicare has positive aspects, but we need to really have a new vision of what the health care system can be.

We need to build a power base outside the Democratic Party that’s able to push it. We can’t possibly rely on it to be our main standard-bearer.

Jonathan Michels

As we honor the thirty-fifth anniversary of PNHP and look toward the future, what mark has the organization made on the movement to secure transformative health reform?

Steffie Woolhandler

PNHP has often helped push sort of incremental improvements, but more important even than those, it helped prevent the health care system from getting worse. Certainly, the folks who are making money off of the health care system would prefer to ignore poor people, ignore sick people, continue marketing and getting as high prices as possible. PNHP has been a voice within the physician community that has slowed that down and has opposed that push. We’ve kept saying, “We can do better. We need a fully public system, a system that is not oriented around profit, but oriented around population health needs.” We’ve kept that idea out there.

Tonia Lechtman’s Life Embodied the Struggle for Human Dignity

Tonia Lechtman was a Polish Jewish communist who was deprived of her freedom by five different dictatorships. Her resilience in the face of oppression was built on a determination to build a world fit for human beings.

From the cover of An Ordinary Life? The Journeys of Tonia Lechtman, 1918–1996 by Anna Muller. (Ohio University Press, 2023)

Tonia Lechtman, a Polish Jewish woman living in the early twentieth century, could be any one of us. A member of a minority who continuously seeks space in mainstream society. A single mother overwhelmed with the shrinking possibilities of keeping her children safe. A migrant who left her home country hoping that her next destination would bring more options. A woman who became a refugee in a country she had chosen for her home, which now considered her an enemy. A woman who insisted on a right to a home. She was an ordinary woman who lived in extraordinary times.

My work on An Ordinary Life? The Journeys of Tonia Lechtman, 1918–1996 coincided with me beginning to teach jailed men in the United States, as well as working with formerly incarcerated men and women. I had just finished a book on the life of political prisoners in Stalinist prisons in Poland in the years following World War II; I thus moved from thinking and writing about the darkness and violence of the Stalinist government that sentenced Polish patriots to ten years’ confinement, to interacting with men in the United States who carried thirty- or forty-year sentences (or even life sentences without any possibility of parole) for drugs or gang violence.

Such crimes often emerged from the circumstances in which many of these men of color were destined to live; some among them were also wrongfully convicted. What I have learned from a select group of incarcerated or formerly incarcerated people was the power of self-reinvention and hope, and a deep sense of responsibility: for their families, for the students I brought to learn with them, and for their various real and imagined communities. I also learned that humanity is best discernible through vulnerability and a conscious decision to share life with others. This is where Tonia’s story fits in.

Tonia Lechtman experienced different forms of confinement six times at the hands of five different dictatorships. She was imprisoned either because of her identities (a Jew, a communist, a single mother) or because of her insistence that ideas and actions can change the world. She was both similar to and different than the incarcerated men I met. The reasons for their imprisonments as well as the choices they made in life could not be more different, but the drive to navigate difficult circumstances, the urge to reinvent hope, and the reasons to ask for (even demand) a right to full participation in the world were similar. At times, while facilitating conversations inside prison, I wondered what Tonia would say to these men who sought ways to redeem themselves, who attempted to understand their crimes and societal roles, and who embraced interdependence. The responsibility for each other and the critical value that we should attach to the recognition of individual dignity speak to us louder in moments of suffering. Tonia understood this well.

Growing Commitment

Tonia Lechtman (née Bialer) was born in 1918 into a Jewish family of well-off industrialists in Łódź, Poland. Early in her life, at the threshold of her childhood and teenage years, she embraced communism as a form of engagement with the world. Communist ideas matched her youthful idealism and sensitivity to social justice, while also grounding her by providing her with multiple social circles. Her commitment to communism strengthened in Palestine, where her parents moved in 1935 in the hope of escaping growing antisemitism in Eastern Europe.

It was in Palestine where she engaged seriously with communist networks: she wrote communist slogans on walls, distributed flyers, and did propaganda work among Zionists promoting the view that the main enemy of the Jews was not Arabs but the British Empire. Doing this work she met and fell in love with a man — Sioma Lechtman — also committed to communism, and also experienced her first interrogation and imprisonment. Her first imprisonment was a menacing but also formative experience: she remembers it as a time of female solidarity, preparing and sharing food with Arab women prisoners, joining in back talk to the guards, and caring for people who had less. It was a moment of no return. The prison offered a lesson in persistence, community building, and strengthening commitment, despite the fear.

Tonia Lechtman’s commitment to communism strengthened in Palestine, where her parents moved in 1935 in the hope of escaping growing antisemitism in Eastern Europe.

As pro-communist political prisoners, both Tonia and Sioma were expelled from Palestine. With only transit visas, they traveled to Paris — the epicenter of world democracy, the place where the promise of equality was pushing forward hope. It was in Paris where the couple wanted to build a new life for themselves and a better world. That audacity was perhaps arrogant, but it was driven by a need to lessen helplessness. If fascism was on the rise and the world was crumbling in front of their eyes, then joining movements that tried to stop these developments was the only logical conclusion. One of the couple’s most intense desires was to leave for Spain, to fight fascism there. But Tonia’s pregnancy forced her to reconsider her involvement. While in December 1937 Sioma traveled to Spain, Tonia remained in France, supported by multiple people who offered help — people who fed her, helped her find a temporary home, and, in July 1938, took her to a hospital when her time came to have her baby. These supporters kept her hope in communism alive while feeding her understanding of it as a responsibility for one another.

Life was already overwhelming for a single mother with no French-language skills, stable job, or family support. Her situation deteriorated when, at the beginning of World War II, almost overnight, Tonia turned from a migrant into a refugee who needed to run for her life. First, she ran toward the border with Spain, where she hoped to reconnect with Sioma, who was confined in Gurs, a camp for former members of the International Brigades that had fought in Spain. She visited him briefly a few times, one visit resulting in her second pregnancy. Her second child was born in March 1940, a few months before France fell to the Nazis. The Nazi-collaborationist and increasingly antisemitic Vichy regime assigned people like Tonia — both Jewish citizens and foreigners — an inferior position. People like her belonged to “camps of concentration,” as French officials often called them.

After trying to place her children for some time in a shelter for Jewish children in Limoges, she ran again, this time to Switzerland. She and her children spent the rest of the war there, first in various camps for refugees, then under the protection of a woman who ran a shelter for the displaced. The atmosphere of isolation and suspicion did not leave her for the rest of the war. A sense of exile accompanied her daily. To use the words in which Hannah Arendt described the refugee condition, Tonia had lost her “language, the naturalness of reactions, the simplicity of gestures, the unaffected expression of feelings.”

Promised Land

In the early postwar months, Tonia learned about the death of her husband, who was killed in Auschwitz in January 1945. She had planned to change the world with him and for people like him — displaced and persecuted minorities. Now that he was gone, the only thing that made sense was to return to the place where he died, to Poland. That return was supposed to end her rootlessness. Poland in 1946 promised a new and better future. This war-ravaged country was rising from the rubble while claiming its victory over fascism. It needed and also offered hope. Though it was largely a Soviet creation, the communist rule that had firmly established itself by 1948 appeared as an answer to all her dreams. Sioma was not there to witness it. But it was in Poland where she believed she could raise her children while following their shared dream.

She returned to work on reinstituting, with American financial help, a trauma hospital in Upper Silesia, and then moved to a job in public administration in Warsaw. Yet, as historian Marci Shore writes, “the promised land of Communism was also the hell of Stalinism.” Once again, Tonia’s dreams were shattered. The same communist state that she fought so hard to serve crushed her. In 1949 she was imprisoned as an enemy of the state (faced with orchestrated suspicion of conspiring against the Polish state) and kept under interrogation for five years. Before the war she was imprisoned for being a communist, during the war she was interned for being a Jew, and after the war she was confined because the Stalinist government considered her suspicious and untrustworthy. This third and last incarceration was no longer a lesson in strength and persistence, and not even a training in solitude. If anything, it was a school of how to mentally survive by believing herself and in herself, despite being imprisoned by people she had considered comrades, perhaps even friends.

The same communist state that Lechtman fought so hard to serve crushed her.

After several years, she left prison still believing that communism — or an ethical sense of responsibility for each other, one that can nullify racial and national inequalities — was worth fighting for. She left prison both physically and mentally spent; a few years after leaving, she had a gallbladder attack, similar to one she experienced in jail. To deal with the pain, she ran on a square the size of her former cell, similar to what she did while incarcerated during her first painful attack. Although she left prison, the prison never left her. What ultimately broke her came a few years later: illnesses that affected her grandchildren with which Polish doctors in the context of the late 1960s could not deal. Poland looked increasingly like a caricature of a dream she wanted to dream. Withdrawing even further into herself, in 1971 she left Poland for Israel. She died there in 1996, surrounded by a family bewildered by the role that communism had occupied in her life.

Living the World Through Others

When I was writing and then editing this book on Tonia, the world was seemingly falling apart again. It began with COVID-19 and continued through the Black Lives Matter protests, the consequences of the withdrawal of US forces from Afghanistan, and the Russian invasion of Ukraine: more pain, more death, more refugees, but also more signs that the struggle for dignity never dies. The country where Tonia was born and one that I call my home — Poland — closed its borders to Syrian refugees while opening them to Ukrainian refugees just a few years later.

“The pandemic is a portal,” said philosopher Arundhati Roy in 2020 while watching growing suffering and hoping for it to become an opening to a new and better future, as if pain could become a conduit of change. The rupture of COVID — or perhaps the multiple ruptures that followed it — was supposed to make us rethink the kind of normalcy we wanted to return to, but it seems as if our prejudices and hatred have walked through the portal with us. Now, almost everywhere we look, the world looks grimmer. “There is something wrong with the world,” said Polish writer and activist Olga Tokarczuk upon receiving the Nobel Prize in Literature in 2020 as she called on us to narrate the world not through oneself but through others — exactly the way Tonia wanted to live her life.

In summer 2022, I traveled to the frontier between Switzerland and France near Geneva to try to find the spot where Tonia crossed the border. On the French side, to my surprise, I ran into a historical marker with a quote from Rosa Luxemburg: “La liberte c’est toujours la liberte de l’autre” (Our freedom is always the freedom of others). Tonia survived her lonely life in France, Nazi roundups, an illegal and dangerous crossing to Switzerland, and separation from her children in Switzerland thanks to numerous and often anonymous gestures of help. Various people supported her when all else was failing. A family of German socialists offered her a home in the last months of her pregnancy. A French policeman warned her about an imminent roundup. A soldier protected her from being caught by the Nazis when she embarked with two small children on a journey into the unknown. A guard on the French-Swiss border fed her and her children. Are people that good and ready to help, or did she simply decide to remember what was good in her life, rather than reflect on the losses?

While in times of crises almost boundless suffering and pain arise, some good also emerges. Amidst overwhelming misery and suffering, help often goes unnoticed. Early on during her life in Paris, Tonia found herself in a circle of women — a new generation of social activists who worked with young women living in various shelters and who believed that by creating the right conditions one can help those who appear to be lost. Hannah Eisfelder Grünwald, for example, thought about her social work as a mission aimed at restoring an individual’s sense of worth and not just offering passive help. Margaret Locher fought hard for Tonia and her children while trying to move them from a refugee camp to her home. Lily Volker, in beautiful Ascona surrounded by Swiss lakes and mountains, decided to turn her family business — a hotel — into a place for refugee children, which at the time meant Jewish children. Love and respect were supposed to help them to move past war traumas. No monuments are devoted to these women; they are hardly ever mentioned or remembered as harbingers of good in dark times. In Ascona, by accident I came upon the grave of Volker, which has the inscription “Lily Volker. Ciao and Grazie” and a globe with silhouettes of children. Help to one is help to us all.

Tenderness, Against Alienation

Tonia built her world from a place of vulnerability — as a minority, woman, migrant, single mother, and refugee. She recognized this vulnerability and welcomed any assistance she could receive, but she also lived to assist. She chose life with others and through others. Was communism a necessary or the even only ethical and moral framework for her? Probably not. At the time of her youth, socialism and communism were only some of the responses to Jewish exclusion from the mainstream. Communism was Tonia’s choice in response to being pushed to the margins and a growing fear of fascism. As a means of dealing with fear and alienation, it was also her response to solitude, a means of feeling grounded in the world and embracing fears with newfound courage and tenderness. As an ideology, communism is distrusted in the part of the world Tonia and I come from, and stories of committed communists make many people uneasy. A story of Tonia’s trust in communism can make others question her reasoning.

Tokarczuk calls for tenderness as an antidote to alienation in the world: it “is a way of looking that shows the world as being alive, living, interconnected, cooperating with, and codependent on itself.” Tenderness should guide us through our attempts to understand people unlike us, those who make different choices, those who follow an idea that is incomprehensible to us, and those who fail and attempt to stand up again. Placing people and their choices in their contexts is a big part of that process.

Communism was Tonia’s choice in response to being pushed to the margins and a growing fear of fascism.

Tonia saw happiness not only as an emotion or psychic state but rather as a way of acting in the world. That acting also meant accepting her dependence on others, which feminist Lynne Segal sees as embracing our humanity. Accepting the fragilities of life means being fully human. Sharing her vulnerability and committing to protect others who were also vulnerable, Tonia made an ethical and political decision — a responsibility for others because it is the quickest way to changing the world. She remained fearless in believing that only with others and through others, in small and big gestures of tenderness, in consciously deciding that the personal is political, she could remain faithful to herself, her late husband’s ideals, and all the people who died — or did not have a chance to fully live — because their own state, society, and the world failed them. Her story — a story of someone so ordinary — teaches us to give and receive and to participate in sharing small gestures of tenderness, which can be life-sustaining. It takes courage to give and receive these gestures on a path to rebuilding oneself.

Asset Managers Like BlackRock Are Controlling More and More of Our Lives

Giant asset managers like BlackRock and Vanguard are increasingly but imperceptibly becoming owners of more and more aspects of our lives, from housing to roads to energy infrastructure.

Asset management companies play an increasingly important role in controlling the infrastructure within which our daily lives are embedded. (saulgranda / Getty Images)

Apartment complexes, water pipes, schools, and toll roads; fossil fuels and clean energy infrastructure. Across the world, these resources are moving into the hands of nearly invisible entities: asset managers, such as BlackRock, Vanguard, and State Street. Over the past few decades, these often-forgotten administrators of retirement accounts have branched out from investing in financial assets like stocks and bonds to owning some of the most basic infrastructure of our daily lives.

In Our Lives in Their Portfolios: Why Asset Managers Own the World, political economist and economic geographer Brett Christophers traces the history of asset management from its beginnings to its dominant present and exposes the industry’s current grip not just on financial markets but on the building blocks of life. By spotlighting the invisible owners of our homes and our roads, our water pipes and our schools, Christophers reveals the consequences of asset managers’ profit-seeking control over our fundamental resources.

Cal Turner and Sara Van Horn spoke with Christophers for Jacobin about how asset managers came to occupy such a powerful position in the global market, what their growing hold over essential resources means for our collective futures, and who really profits from high-investment returns.

Cal Turner

What exactly is asset management? What is an “asset manager society”?

Brett Christophers

Asset managers are companies that carry out investment on behalf of others. Principally, they carry out that investment on behalf of institutional investors, like pension schemes and insurance companies. But they also carry out investment on behalf of so-called retail investors, which are the likes of you and me. Asset management is a broad industry of which things like private equity, hedge funds, and index funds are component parts.

“Asset manager society” is a term I use to signal a transformation that has occurred over the past thirty years. The origins of the modern asset management industry are in the 1960s and ’70s, principally in the United States. When asset managers began to invest on behalf of pension funds, they invested exclusively in financial assets: stocks and bonds, including bonds issued by governments and municipalities.

At one level, who owns shares in Microsoft or government debt does matter to society at large, but it matters in quite a distant way. To you and me, it makes no difference at all to our daily lives whether that investment is carried out by our pension fund trustee directly or indirectly via an asset manager. What asset managers did was far removed from everyday life for a long period of time.

But in the 1980s, asset managers began to diversify their holdings into what are typically referred to as “real assets.” Instead of just investing in financial assets, they began to buy physical things, rather than just share certificates or digital numbers on the screen. In particular, they began to buy commercial property: offices, hotels, shopping centers. In the 1990s, they began to diversify into new types of real assets. Asset management companies began to buy housing, particularly apartment blocks, and they began to buy infrastructure — including essential infrastructure in energy, transportation, and water supply.

An asset manager society is a society in which asset managers play an increasingly important role in controlling the infrastructure within which our daily lives are embedded.

These asset managers began to play a very significant role shaping the conditions and the costs of people’s everyday lives, because they were now buying, owning, controlling, and earning money from the physical things on which we all rely — whether that’s housing, the electricity grids that supply our power, the municipal systems of pipes that supply water to homes, or the parking systems where we park our cars. An asset manager society is a society in which asset managers, which are often faceless financial institutions that most people don’t know about, play an increasingly important role in controlling the infrastructure within which our daily lives are embedded.

Sara Van Horn

How does asset management impact housing, both as a market force and for those who need it?

Brett Christophers

Asset managers regard housing as an asset: something that will deliver a recurring income, which is the rent that the tenant will pay, and that will also deliver a capital gain when it comes to selling that asset at a later point. Given that those are their underlying motivations, what are they looking for when they invest in housing? What they’re looking for is the capacity to increase the rents that they are able to extract from that property.

That’s the case for two reasons. One is that more rent means more income to be pocketed, but much more important than that is that higher rent makes the asset more valuable to prospective buyers at a later point in time. The key thing to remember about asset managers is that they are largely not in the business of buying and holding assets into perpetuity. They are in the business of buying and selling assets. When they buy assets, their primary consideration becomes how best to manage that asset in such a way that it becomes more valuable to the market. Increasing rents is obviously the primary way for them to do that in terms of housing.

Over the last decade or so, the most common strategy that asset managers have pursued in buying rental housing is buying in areas where there are very tight rental markets, where there are essentially not enough rental properties to meet demand. There’s an obvious reason for that: in such rental markets, there tends to be upward pressure on rents. Just as important, if not more important, they look to buy in places where they think there is only a limited prospect of substantially more rental housing being built, because that would represent a clear and present threat to their business model.

The reason I emphasize this is that what they do runs almost diametrically counter to what they say their interests are in housing markets. When they talk to politicians, when the media asks them, “What are you going to do about the housing crisis, about the fact there are shortages of supply and the fact that renters can’t afford their rents?”, what these asset managers typically say is, “We’re part of the solution; we want to add to new supply.” It’s really not true — that is absolutely not what they’re interested in. And if you listen to other conversations that they have, when they talk to investors on earnings calls, they say the complete opposite: “We’re investing in places where there are supply shortages, because that gives us the pricing power that we like in those markets.” They say two completely different things to two different constituencies. And what they say to investors is much more truthful.

There’s also an inherent short-termism in this behavior, because the asset manager knows that he or she has to sell these assets pretty soon after buying them. That inherent short-termism is really inappropriate and destructive when it comes to assets like housing, water supply networks, and electricity transmission grids. Asset managers are inappropriate custodians of these types of assets. They’re about as inappropriate as you can imagine.

Cal Turner

You write that energy — especially renewable energy — is the largest sector for asset managers investing in infrastructure, and that asset managers also have stakes in other climate infrastructure, such as transportation. What does this mean for our energy future and our climate more broadly?

Brett Christophers

What most people have looked at when they think about climate and asset managers is the dirty side of the equation. They look at the fact that asset managers remain substantially invested in fossil fuel companies and many of the other corporations that continue to be responsible for large amounts of emissions.

One of the main reasons for that is that the biggest fund managers, like BlackRock, Vanguard, Fidelity, and State Street, are predominantly passive managers: their biggest funds track particular market indices. If you have a fund that’s tracking the S&P and that index includes Exxon Mobil and Chevron or, in the European context, BP, Shell, and Total, then you are required by the nature of your fund to remain invested in those assets. The big asset managers, by virtue of the nature of their model, remain major owners of fossil fuel companies and other huge emitters. A lot of the attention that both scholars and activists have focused on the climate finance question is focused on asset managers as owners of dirty assets.

Asset managers’ inherent short-termism is really inappropriate and destructive when it comes to assets like housing, water supply networks, and electricity transmission grids.

In my work, I tend to focus on the other side of the question, which is asset managers as owners of clean assets — the assets that are being constructed to try to get humanity out of the crisis. The biggest area of interest is clean energy assets. If you look at the ownership of the infrastructure of clean energy generation, and, in particular, if you look at it relative to the infrastructure of dirty energy generation, you find that clean energy infrastructure is far more concentrated in private hands than in publicly owned infrastructure. Something like 50 percent of fossil fuel assets are owned by the state, either directly or indirectly through state-owned companies. The number is nowhere near that with clean energy infrastructure, which is something like 90 percent private.

As we move through the energy transition, we appear to be moving toward a more privatized system of infrastructure ownership, simply by virtue of the fact that clean energy infrastructure historically has been generally invested in by private companies. To be more specific, increasingly, the biggest investors in clean energy infrastructure are asset managers.

For example, Brookfield Asset Management, which is a Canadian company, and one of the main companies I talk about in the book, is one of the world’s largest owners of renewable energy infrastructures. BlackRock is increasingly becoming a major owner of these infrastructures. When the executives at companies like BlackRock talk to policy makers about climate questions, they talk to them not just about the dirty side of the equation, but about the clean energy side of the equation.

Asset managers were some of the biggest lobbyists and interested parties behind the Inflation Reduction Act last year, which was about providing incentives for further private investment in US clean energy infrastructure. The ten-year extension of subsidies that have been put in place by the Inflation Reduction Act is one that asset managers actively lobbied for, and they have subsequently spoken about how enthused they are by those incentives. To the extent that the climate crisis is an infrastructure crisis, it’s about asset managers, because asset managers are increasingly becoming the biggest investors and owners of infrastructures of all types, including climate infrastructure.

To the extent that the climate crisis is an infrastructure crisis, it’s about asset managers, because asset managers are increasingly becoming the biggest investors and owners of infrastructures of all types.

Sara Van Horn

You describe how ownership by asset managers is usually invisible, even as it directly affects very concrete aspects of our daily lives. You call this a “very physical if also strangely intangible” type of ownership. Can you talk about the effects of this invisibility?

Brett Christophers

Asset managers increasingly own very important forms of infrastructure that really affect our lives — yet most people are not aware that asset managers own those infrastructures. They probably wouldn’t recognize the names of most of these companies.

If Brookfield Asset Management is the ultimate owner of the apartment block in which you live, you almost certainly wouldn’t know that. Typically, there’ll be a local holding company, an intermediary, that is actually registered as the apartment owner. The name Brookfield wouldn’t be visible. Even if it was registered as the owner, it wouldn’t be Brookfield that you interacted with as a tenant in terms of who carries out the maintenance and deals with you if you’re late with rental payments.

A lot of the day-to-day drudge work of managing these various types of housing and infrastructure assets is not carried out by the asset manager, or even by a company that the asset manager owns: that work gets contracted out. Macquarie Infrastructure and Real Assets, which is, alongside Brookfield, the world’s biggest asset manager in terms of infrastructure ownership, estimates that around one hundred million people rely every day on infrastructures that it owns around the world. Yet I’d wager that at most a couple of thousand people out of those one hundred million know that they’re using infrastructures that Macquarie is the ultimate owner of.

What are the consequences of that invisibility? The main one is that they become very distant from potential critique. For people struggling with bad living conditions and rapidly increasing rents, or burst water pipes and increased water rates, it’s very difficult to take issue with the asset management companies, who are the ultimate owners of these assets, if people don’t know that they are indeed the owners. It becomes a very depoliticizing structural configuration. A lot of activists have been dealing with these questions to try to render visible what was previously invisible.

Cal Turner

Despite the general invisibility of asset managers, some have recently come under fire for their holdings in industries like fossil fuels. When asset managers are challenged over the impacts of their investments, how do they justify their choices?

Brett Christophers

One of the arguments that asset managers often make about what they do is that, at the end of the day, it’s in your interest as an ordinary citizen for our funds to perform well. If our funds perform well, then your retirement savings will increase, so if you’re going to criticize us, it’s you who will be hurt.

That’s a discourse that lots of people get persuaded by. But it’s also a misleading discourse, for a couple of reasons. It’s certainly the case that a lot of the money that is invested in housing and infrastructure by asset managers is, indeed, retirement savings. But it would be disingenuous to argue that those retirement savings are principally the savings of ordinary workers. Retirement savings represent a form of wealth that, like all forms of wealth, is unequally distributed among the population. In the United States, something like 50 percent of all retirement savings are held by the top earnings quintiles among workers, while the lowest earnings quintile essentially has no retirement savings.

When asset managers’ funds perform well, there are end investors who in turn also do well. But to suggest that they are predominantly ordinary workers is very far from the truth.

To argue that if an asset management fund performs well, then ordinary workers benefit by virtue of growth in their retirement savings is simply not true. Most of the retirement savings that are invested are the retirement savings of wealthy people, not ordinary workers. They’re the pension pots of consultants, doctors, bankers, and executives, including of course the executives of asset management companies themselves.

The second thing is that, yes, pension schemes are very significant contributors to these real estate and infrastructure funds. But increasingly, they’re not the only ones. A growing amount of the money that is invested in these funds is coming from sources around which it would be much harder for asset managers to tell a comforting public relations story.

A few years ago, for example, Blackstone established a huge new infrastructure fund, and around 50 percent of the capital that is committed to that fund is provided not by pension schemes and underlying workers’ retirement savings, but by the sovereign wealth fund of Saudi Arabia, which is an entity that has received a huge amount of scrutiny and criticism from human rights organizations like Amnesty International. A minority of the money in that fund represents retirement savings, and a minority of those retirement savings represents the money of ordinary workers. When asset managers’ funds perform well, there are end investors who in turn also do well. But to suggest that they are predominantly ordinary workers is very far from the truth.

US Imperialism Alone Can’t Explain the Triumph of the Right in Latin America

Histories of the Cold War in Latin America often center the United States’ bloody footprint in the region. And with good reason: US crimes in the region committed in the name of anticommunism included propping up dictatorships, overthrowing democratic governments, and enabling genocide. A new book by historian Vanni Pettinà takes a different approach. His […]

Turbo Cancer Leukemia: Children From Ages 11 to 21 Are Dying Within Hours or Days of Cancer Diagnosis

All Global Research articles can be read in 51 languages by activating the Translate Website button below the author’s name.

To receive Global Research’s Daily Newsletter (selected articles), click here.

Click the share button above to email/forward this article

The post Turbo Cancer Leukemia: Children From Ages 11 to 21 Are Dying Within Hours or Days of Cancer Diagnosis appeared first on Global Research.