Summary

Fund managers such as BlackRock, Vanguard, State Street and Fidelity are the new players of the financial world: they are not locusts, instead each one is a Tyrannosaurus Rex. They emerged after the last financial crisis of 2007 and are neither banks nor hedge funds and flourish in a practically regulation free zone. They can also best be described as shadow banks. The new players in the financial markets have taken over monetary policy. No one regulates them, neither national governments nor the Public.