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’The great governments are reading blogs crisis of 2011
Larry Fink, chairman and CEO of BlackRock, reckons he’s found one of the reasons for the world’s troubles.
Comments just in from Wednesday’s Q3 earnings call:
“When the government focuses on short termism,
Big BlackRock
In any discussion about winners from the financial crisis, US money manager BlackRock must be the lead contender – having landed a series of lucrative contracts over the past year from US efforts to clear up the financial mess,
Stocks surge on US toxic asset plan
US stocks soared on Monday after Treasury secretary Tim Geithner detailed his proposals for public-private partnerships to deal with banks’ toxic assets and prominent investors such as Pimco’s Bill Gross and BlackRock’s Larry Fink said they would participate.
Banks’ SIV superfund taps Blackrock
BlackRock, the asset manager 49% owned by Merrill Lynch, is set to be signed up as the manager of the $75bn superfund being put together by the top three US banks – Citigroup, Bank of America and JPMorgan Chase.
Citigroup calls in Stuckey; Merrill’s search team meets Fink
Citigroup has selected one of the executives who handled the rescue of LTCM to head a new unit to manage the bank’s subprime mortgage-linked assets. Richard Stuckey was one of the six Wall St executives put in to bring the hedge fund back from the brink of collapse in 1998.
Merrill faces $400m hurdle to secure Fink
Merrill Lynch may have to buy out Larry Fink’s $400m stake in BlackRock if it wants the asset manager’s chief executive to succeed Stan O’Neal as chairman. The buyout, which would be needed to avoid exposing Mr Fink to a potential conflict of interest,
Leveraged fears: BlackRock’s Fink and Bank of England
A surge in cheap corporate lending with looser credit standards has “increased the vulnerability” of the global financial system, the Bank of England will warn on Thursday. Its concerns chime with those of Larry Fink,