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Larry Fink On Cyprus: "I Don't Really Care"

Tyler Durden's picture




 

Blackrocks's Larry Fink "doesn't really care" about Cyprus, "it's really not something of concern," he tells Bloomberg TV. While gesturing that he can't really discuss specifics as Blackrock is an adviser to Cyprus, he then goes to explain how European and US markets have it all wrong and that "It has some symbolism impact on Europe, but it’s not a really major economic issue." This dip is "just clients taking some chips off the table and reaping some gains from the huge rally," he goes on, dismissing the interviewer's question as nonsense, "this is temporary," and adding that he "is hyperbullish on the US economy," and that "global markets will be up 20% this year." However, what is most fun to watch is his arrogant dismissal of the interviewers question over US depositor fears, there are two reasons that is foolish, he notes "a) we have insurance, so that will not happen; [ZH: umm, so did Cyprus]; and b) we have always prioritized the liabilities [ZH: umm, except for GM]." So all good then, storm in a teacup. Carry On - though he has some stern words for the French and for the Russians.

 

Perhaps our favorite line:

"Many of the depositors in Cyprus are not EU members - maybe a little east and north of Cyprus - and therefore bearing the cost on depositors is an indication that "we're fine with bailing out EU members and EU depositors, but this is quite a bit different"

 


Transcript

BBG: What did you make of the Cyprus situation?

"I really don't care."

 

"Cyprus is a $10bn problem. It is really not something of concern"

 

“It has some symbolism impact on Europe, but it’s not a really major economic issue,”

 

"It does remind us of the frailties of Europe; it does remind us that the European fix will be multiple years, but the essence of Cyprus is more symbolic...

 

Blackrock is representing the Cyprus government so I am not permitted to talk too much about the specifics

 

Many of the depositors in Cyprus are not EU members - maybe a little east and north of Cyprus - and therefore bearing the cost on depositors is an indication that "we're fine with bailing out EU members and EU depositors, but this is quite a bit different"

So you dont care about Cyprus but the market did...

This is just clients taking some chips off the table and reaping some gains from the huge rally.

 

This is temporary

 

Cyprus is just one of the elements that is being used as an excuse

Were u shocked at them trying to tax bank deposits?

Smugly (2:28) Fink initially ignores the question, smiles a wry smile, and doesn;t answer...

BBG: Well even people in America were questioning that...

A) we have insurance, so that will not happen; (SO DID CYPRUS)

 

B) we have always prioritized the liabilities (EXCEPT for GM)

Where are we in the European credit crisis? Are we close to the end?

We're in the third inning. This is a long process, the work done in Spain and Italy over the last year is very good (Spain now has a current account surplus). So there has been much improvement and yet there is a lot more to do...

 

you still have the instability of finances in France that we cannot underestimate how severe that could become

 

The OMT was designed to firewall Spain and maybe Italy but there's not enough money in Europe if France continues down the path of having huge deficits and huge imbalances of productivity

 

France is just not as competitive as Germany and that remains a big issue

 

We are going to have 6 more innings of evolving uncertainty

At 5:00, Are we in a correction?

FINK: We are definitely in a pause. Inflows have flattened and most of that money came in from cash - not a rotation from bonds. It was really people putting money to work and now some people are taking them money off

 

Depending the macro data, we could see a 5% correction or a prolonged 1-2 month pause

 

At 6:00, but by year end equity markets will be a lot higher with a potentiality for global markets to be up over 20% by year end.... markets are improving, economic conditions are improving, the changes in Japan is a net positive, China is not as weak as we feared, and the US is going from strength to strength to strength - and that is the dominant story in 2013

 

I am hyperbullish on the US economy

 

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Wed, 03/20/2013 - 08:47 | 3351640 CH1
CH1's picture

Translation: These aren't the droids you are looking for.

Wed, 03/20/2013 - 08:54 | 3351679 HulkHogan
HulkHogan's picture

I'll leave a bad taste in that chick's mouth.

Wed, 03/20/2013 - 09:05 | 3351733 DblAjent
DblAjent's picture

Clorox?

Wed, 03/20/2013 - 09:07 | 3351741 Badabing
Badabing's picture

Imagine all the people……….

  Or a lot of people participating in a new movement, a Movement In Liberty In Truth In America or MILTIA ©  for short, who’s motto is “this will not be a peaceful demonstration” and who’s prime directive is to detain individuals under citizens arrest that have Corzined the people and not stood trial. A group that welcomes planted agitators to its functions, and after identifying them arrests them and publishes their  identities  for who they are, example plain clothes  cop, secret service, military………..  And with anonymous donations, uses the funds to set up pirate cable, television, radio stations and internet sites. Also urges its participants to talk to relatives, friends, and neighbors on a one to one or in a group to spread the word and be prepared. And show loving respect for constructional oath keepers.

You can say I’m a dreamer but I’m not the only one…………

If you have any ideas please help

Wed, 03/20/2013 - 09:15 | 3351783 Divided States ...
Divided States of America's picture

Spoken like a true joo....they dont care for anyone except themselves. But what goes around comes around. His time hasnt come yet..

Wed, 03/20/2013 - 09:35 | 3351875 flacon
flacon's picture

I was part of the merger of MLIM (Merrill Lynch Investment Managers) and Blackrock back in 2007. I kid you not - when we went to Manhattan for merger meetings all they gave us for lunch was a bottle of water and a bowl of Blackrock mints. 

Wed, 03/20/2013 - 10:11 | 3352013 NotApplicable
NotApplicable's picture

Well, you sure don't sound very grateful.

Wed, 03/20/2013 - 11:23 | 3352275 MagicHandPuppet
MagicHandPuppet's picture

"They tried it.  It didn't work.  So, let's move on."

~ Larry "The Stink" Fink (on the EU initiative to tax Cyprus bank accounts)

Oh, how our overlords love us to just move on and not concern ourselves with their games.  Keep maxing out your 401Ks and Credit Cards.  All will be well.

 

Wed, 03/20/2013 - 09:37 | 3351882 Shizzmoney
Shizzmoney's picture

The bankster jew is what will tear this country down.

The shame of it is, they'll throw all of the other enabler jews who defend them under the bus, when this thing blows.

Wed, 03/20/2013 - 09:16 | 3351787 sunaJ
sunaJ's picture

It amazes me sometimes how often people live up to their name....Fink, Madoff, Dick, B.S. Bernanke, etc.

Wed, 03/20/2013 - 09:53 | 3351924 Divided States ...
Divided States of America's picture

Fink (JEW- still free and raping everyone else legally but he dont really care),

Madoff (JEW in jail, thats what you get for fucking the tribe),

Dick (if you mean Fuld, JEW but used as scapegoat by the other JEWS, someones gotta take the hit),

B.S. (If you referring to Ben Stein - the JEW who thinks hes real funny, I just find him funny looking)

Bernanke (Biggest MoFo JEW of all time, well maybe tied with Greenspan and Larry Summers)

Wed, 03/20/2013 - 11:15 | 3352240 Big Slick
Big Slick's picture

... Shilling, Fastow, Barak Hussein Obama (BO), Gutfriend, Tiger Woods...

Wed, 03/20/2013 - 09:16 | 3351789 Dr. Richard Head
Dr. Richard Head's picture

I love how he speaks to "who will bare the responsibility" as if it is unknown to whom responsibility is owed.  Let's go after depositors who had abso-fucking-lutely NOTHING to do with the debts incured so as to free the burden from the derivatives, EU bonds, and interest being layed upon the money already borrowed.  Sounds like the EU has imported Amerikan decomcracy at its finest.

Wed, 03/20/2013 - 11:16 | 3352247 nope-1004
nope-1004's picture

Larry Fink isn't that bright.

 

Wed, 03/20/2013 - 09:26 | 3351823 TruthInSunshine
TruthInSunshine's picture

Fair enough, ZH. But counter-point; Larry Fink of Blackrock can & has shown remorse when clients have lost hundreds of millions (and dozens of billions) of dollars, including during (frequent past top ticking moments) when Larry Fink has been "hyper-super-so so so sooo-bullish" before, despite things not panning out so well (the joys of OPM; you just can't lose, no matter how epicly bad your calls nor idiotic your "advice").

Just one (of many) example:

Stuyvesant Town Hurt Larry Fink On Very Deep Level

 

Sad Larry Fink. Very melancholy; defensive due to horrendous abomination of "investment advice, but very, very Sad Fink:

At the mention of these blunders, Fink, who has been sprawled in his chair, suddenly stiffens. His voice takes on a harsh tone that is leavened only by his visible anxiety. “When you manage money, you are going to make mistakes. You are not going to be 100 percent perfect. Our job is to minimize those problems, to cauterize them,” Fink says, his voice rising. “We’re not perfect, and I’ve never said to anyone that we are going to be perfect. Our investors had all the information we did and they did their own due diligence.” He exhales deeply. “Our real-estate division is struggling because of bad performance, and we’re making changes. I don’t care if the whole industry blew up, our job is to do better than the industry, and we didn’t in real estate,” he says. “I am not making excuses. I lose sleep over these problems.” The Stuyvesant Town loss was “an embarrassment,” he says. Then his voice drops to a whisper. “I mean, my mother gets her pension from Calpers.”

Wed, 03/20/2013 - 09:31 | 3351865 LawsofPhysics
LawsofPhysics's picture

And the oscar goes to...

Larry is close to the free money spicket and manages the money for several very large institutional investors, he really doesn't give a shit.

Wed, 03/20/2013 - 09:47 | 3351906 TruthInSunshine
TruthInSunshine's picture

Just because he's been far more frequently wrong than correct, and runs a too-big-to-fail with express U.S. taxpayer bailout guarantee status, and has nearly perfectly top-ticked many 'a markets with his raging bull El Bullience (see what I did there? Raging Bull?...El Buli?....ehhh..ahh ha...) doesn't mean he's not The Best Around.

 

Larry Fink Is a Real Human Being With Feelings and Emotions [NYM]

Yes, he runs a global multi-trillion-dollar firm with 8,500 employees and a market capitalization of around $40 billion. Yes, he is on the speed dial of everyone important in Washington and on Wall Street, has a regular table at San Pietro, raked in over $40 million last year, and is one of, if not the, most powerful people in finance today. But inside, Blackrock's Larry Fink is still the guy who was fired from his job at First Boston 22 years ago in what one of his peers recalls as a "public and really awful" way, and should you mention that, or any of Fink's other failures, it all comes rushing back and suddenly he's Fired Larry all over again, not to mention all of the other failure incarnations of himself: Fat Larry and Loser Larry and Smelly Ethnic Food for Lunch Larry. Vanity Fair's Susanna Andrews found this out recently, when she brought up Blackrock's recent, doomed acquisition of Stuyvesant Town, which lost huge amounts of money for Blackrock and several of its major clients, including the California Pension and Retirement System.

Wed, 03/20/2013 - 10:01 | 3351960 TruthInSunshine
TruthInSunshine's picture

Larry Fink, I'm sorry if I offended you. I never called you "fat Larry," by the way. Not my style.

Wed, 03/20/2013 - 09:05 | 3351734 fudge
fudge's picture

i'd sooner leave a bad taste his mouth by shoveling the shit back into it.

Wed, 03/20/2013 - 09:06 | 3351740 Pladizow
Pladizow's picture

The only thing this phsycopath cares about is his bonus!

Wed, 03/20/2013 - 09:02 | 3351717 Banksters
Banksters's picture

I  guarantee the guy is a sociopath.   

Wed, 03/20/2013 - 09:15 | 3351785 El Oregonian
El Oregonian's picture

You don't carry the name "Fink" and not become one...

Wed, 03/20/2013 - 09:32 | 3351868 flacon
flacon's picture

Finker-lickin' good!

Wed, 03/20/2013 - 10:15 | 3352027 onewayticket2
onewayticket2's picture

doesnt add up....

i'd think that the cyprus situation would be "huge" news to a "hyper" bullish guy....it would be a trigger for massive inflow of global wealth seeking safe haven in the US.....it would take someone from bullish to "hyperbullish"....it certainly isnt the disposable income story.....taxes going up, inflation going up, fewer taxpayers year over year, all time high food stamps and disability, health care costs skyrocketing, 3.8% obamacare tax on housing transactions, massive and snowballing pension liabilities....and massive new spending that WILL be paid for eventually....it's not a "hyper bullish" story at all.  but if anything, cyprus could be seen as bullish for the USA (provided our boys dont get any ideas)

Wed, 03/20/2013 - 09:04 | 3351725 spastic_colon
spastic_colon's picture

...and for the bernank to cryptically say today that: "Cyprus does not matter, but QE will continue because of Cyprus"

Wed, 03/20/2013 - 09:05 | 3351732 Jayda1850
Jayda1850's picture

I've given up on watching news, these people can say whatever they want and never get  called out on a fucking thing. HL Menken is rolling over in his grave.

Thank you ZH for shining a light on all the BS.

Wed, 03/20/2013 - 11:52 | 3352389 madcows
madcows's picture

It isn't "News" anymore.  It's TMZ with a weatherman.

Go ahead.  Watch the morning "News".  They lead with some celebrity gossip, follow it with the latest uTube viral video, mix in the pillowfluffing weatherman, and close with a Presidential blowjob. 

hence, the majority of America has turned away from it, and look for their "real" news from internet sources.  Inconcievably, though, they've gone even more TMZ-ish in their attempts to lift the ratings.  It's a spectacular fireworks show, watching these douchebags (ABC, CBS, NBC, CNN, MSNBC) go down in flames.  Suck it Katie Couric, George Stefanopulis and any View Host.  You're nothing more than tabloid TV with an overinflated opinion of yourselves.  Ha ha. Losers.

Wed, 03/20/2013 - 09:08 | 3351749 tarsubil
tarsubil's picture

Actually, his response seems rehearsed and his follow up seems nervous. Maybe the infobabe should have asked why he shit his pants?

Wed, 03/20/2013 - 09:14 | 3351776 Water Is Wet
Water Is Wet's picture

Translation: "I got mine; Fuck You."

Wed, 03/20/2013 - 09:59 | 3351952 Yamaha
Yamaha's picture

Or another way of saying "That is why I'm richer than you..."

Wed, 03/20/2013 - 10:03 | 3351974 TheFourthStooge-ing
TheFourthStooge-ing's picture

Alternate translation:

Let them eat German Knuckle Cake.

Wed, 03/20/2013 - 11:22 | 3352270 malek
malek's picture

I'd say it must be Juncker-serious.

Wed, 03/20/2013 - 08:47 | 3351642 Cdad
Cdad's picture

Larry Fink "doesn't really care" about Cyprus, "it's really not something of concern," he tells Bloomberg TV. While gesturing that he can't really discuss specifics as Blackrock is an adviser to Cyprus

Orwellian overload....

Wed, 03/20/2013 - 08:55 | 3351683 SheepDog-One
SheepDog-One's picture

'What's really important'....is that STAWKS are up! Keep making those deposits, consumer lemmings!

Wed, 03/20/2013 - 09:17 | 3351792 Cdad
Cdad's picture

"The important thing is...stawks are off of their overnight lows.  Stawks are near all time highs.  Stawks are cheap.  Stawks are trending.  Stawks are emerging into a new bull market.  And everyone knows that it is in everyone's interest [stawks] to find a bailout solution for Cyprus."  B. Pisani

Wed, 03/20/2013 - 09:00 | 3351707 Translational Lift
Translational Lift's picture

The key phrase he forgot to use.......What difference does it make!!

Wed, 03/20/2013 - 08:47 | 3351643 chunga
chunga's picture

What an asshole this guy is.

Wed, 03/20/2013 - 08:51 | 3351659 unwashedmass
unwashedmass's picture

 

but that's why he's richer than you. smirk smirk

Wed, 03/20/2013 - 08:51 | 3351660 azzhatter
azzhatter's picture

This fucker is a major leaguer

Wed, 03/20/2013 - 09:06 | 3351736 spastic_colon
spastic_colon's picture

did you mean to have a question mark after that comment?

Wed, 03/20/2013 - 08:52 | 3351664 cossack55
cossack55's picture

His name, at least, fits him.   Tho Larry Prick or Larry Shithead would apply equally well. 

Wed, 03/20/2013 - 09:00 | 3351712 chunga
chunga's picture

Worlds largest money manager doesn't care....pfft.

If every country in the world is buried in debt where did all the money go Mr. Mcsnarkypants?

Right in your greasy pocket you crony fuck-head.

Wed, 03/20/2013 - 10:14 | 3352023 resurger
resurger's picture

Fuck him big time.

Wed, 03/20/2013 - 09:03 | 3351720 BandGap
BandGap's picture

Larry Fuckstick or Lawrence Painfulrectalitch

Wed, 03/20/2013 - 09:06 | 3351739 smlbizman
smlbizman's picture

chunga,

why do you feel the need to insult assholes? ...

an asshole is an orifice were vile stinking ,useless shit comes out of.....oh, never mind i see ur point now...

Wed, 03/20/2013 - 09:11 | 3351763 chunga
chunga's picture

No offense intended for normal, regular assholes.

Wed, 03/20/2013 - 09:14 | 3351782 eclectic syncretist
eclectic syncretist's picture

It's like saying that our paper dollars will never deteriorate in value against paper currency from other countries because ours have the all seeing Souronesque eye over a lucky pyramid on the back, and theirs don't. 

Larry Fink is hereby nominated as Larry Flynts jackass of the month.

Wed, 03/20/2013 - 08:49 | 3351646 madcuban
madcuban's picture

Fuck you, fink.

Wed, 03/20/2013 - 08:49 | 3351647 GetZeeGold
GetZeeGold's picture

 

 

hyperbullish on the US economy

 

Molly geez......that's just one step short of double dog bullish.

Wed, 03/20/2013 - 08:59 | 3351702 eigenvalue
eigenvalue's picture

What did you expect him to say? Blackrock is the sponsor of SLV. You know what it means. 

Wed, 03/20/2013 - 08:49 | 3351650 Tinky
Tinky's picture

Ironic that the kids who made fun of his name in grade school turned out to be prescient.

Wed, 03/20/2013 - 09:00 | 3351652 Stoploss
Stoploss's picture

Larry, i shut down four savings accounts yesterday simply because i have NO TRUST OF ANY GOVERNMENT.

The rest?

I don't care.

 

http://www.bbc.co.uk/news/world-europe-21858531

 

You gonna care about this.

Wed, 03/20/2013 - 09:05 | 3351731 GetZeeGold
GetZeeGold's picture

 

 

Ms Lagarde has denied any wrongdoing.....but that's pretty normal.

Wed, 03/20/2013 - 08:50 | 3351654 negative rates
negative rates's picture

Any one named Larry, and any one named Fink, should automaticlly, not care. With the exception of themselves of course.

Wed, 03/20/2013 - 08:50 | 3351655 azzhatter
azzhatter's picture

I'd love to see the accounting that has "Spain doing very well"

Wed, 03/20/2013 - 09:04 | 3351729 BandGap
BandGap's picture

Translation "Spain is going according to plan".

-Larry Fuckstain

Wed, 03/20/2013 - 08:52 | 3351661 the not so migh...
the not so mighty maximiza's picture

He should reveal what are his fees advising Cyprus.  He is doing a bang up job definitly.

Wed, 03/20/2013 - 08:52 | 3351662 de3de8
de3de8's picture

Shill

Wed, 03/20/2013 - 08:52 | 3351663 TrumpXVI
TrumpXVI's picture

Susan Li is really hot.

Wed, 03/20/2013 - 08:53 | 3351665 awakening
awakening's picture

Bullish? As in bullshit bullish, right?

Wed, 03/20/2013 - 09:23 | 3351827 Catfish
Catfish's picture

Long steer manure.

Wed, 03/20/2013 - 08:53 | 3351666 NoWayJose
NoWayJose's picture

Sounds like a guy who is hyper-leveraged long equities. The 10 billion is chicken feed- the fear is if Cyprus sticks it to the big banks and debt holders and comes out better for it - setting a 'better way' for other EU nations to follow than austerity and an IMF horse collar

Wed, 03/20/2013 - 09:00 | 3351708 Marco
Marco's picture

Why would you think Cyprus would do that? AFAICS they were the ones insisting the below 100k deposits had to pay too, just to keep the tax on the rich in single digits ... the only people they are going to stick it too is the poor while trying to blaim Merkel.

Wed, 03/20/2013 - 10:01 | 3351963 highandwired
highandwired's picture

Of course Nicos Anastasiades pushed for everyone to pay.  If you were him, how would you explain it to the KGB that they would be the only people having their money stolen.  It had to be done in such a manner as to show that everyone would have to contribute to the bailout.  What a major fuckup. 

I can tell you this much...if they would have stolen from the KGB, all of those politicians in Cyprus would probably meet their maker in a matter of days.  Why do you think there were no "yes" votes?

Wed, 03/20/2013 - 12:37 | 3352573 Marco
Marco's picture

By saying "fuck you" that's how ... what's the alternative if the EU/ECB doesn't blink?

They can let the Russians wire out all their money in a microsecond after the bank holiday ends and then try to blame the fact all the money disappeared on Merkel some how ... and though the sheep are stupid, I don't think that will work. Cyprus will burn and the politicians and bankers will need to emigrate in a hurry.

They can let the banks declare bankruptcy before the bank holiday ends ... the Russians will lose nearly half their money in that case, but there will probably be enough solid collateral to pay the deposit guarantee.

They can enact capital controls and pretend things are fine for a couple of weeks.

Wed, 03/20/2013 - 08:53 | 3351668 CEOoftheSOFA
CEOoftheSOFA's picture

Fink is a democrat. Why even bother printing his opinion?

Wed, 03/20/2013 - 08:59 | 3351698 madcuban
madcuban's picture

you imply a republican opinion means more.  wrong.

Wed, 03/20/2013 - 09:09 | 3351754 GetZeeGold
GetZeeGold's picture

 

 

Not sure where a progressive neocon fits in....it's all marxism to me.

Wed, 03/20/2013 - 08:59 | 3351704 kito
kito's picture

no fink owns the democrats........big difference.....................

Wed, 03/20/2013 - 09:32 | 3351869 ReactionToClose...
ReactionToClosedMinds's picture

... that is the real implication everyone wants to 'overlook' ... ala Barry Big Picture Blog who is a Sidney Blumenthal propagandist of the highest order .... all things 'narrative'

It is the 'narrative' ... it must not ever lose its shape otherwise the 'people' might wake up

 

Wed, 03/20/2013 - 08:53 | 3351670 doggis
doggis's picture

modus operandi - look the stupid masses in their collective face and LIE! it is an age old technique - LIE.

larry fink is short this market. and he will yank the rug out in the age old 1929 replay - that never gets old.

this is the ongoing generational sequester of the stupid masses assets. 

larry fink - we know who you are - there is no hiding anymore.

Wed, 03/20/2013 - 08:54 | 3351671 Marco
Marco's picture

The US deposit guarantee is effectively backed by the printing press, the dollars you get might not be worth much in the end but you will get them.

Wed, 03/20/2013 - 09:28 | 3351854 Keynesian Mess
Keynesian Mess's picture

I think that they would need more presses and a lot more time to back up the deposit insurance ...

http://www.zerohedge.com/news/2013-03-19/us-deposits-perspective-25-bill...

Thank goodness it's different this time...

....

....

Isn't it?

Wed, 03/20/2013 - 08:54 | 3351675 Sheeple Shepard
Sheeple Shepard's picture

The chinaman is not the issue here, dude.

Wed, 03/20/2013 - 08:54 | 3351676 SheepDog-One
SheepDog-One's picture

'Markets have it all wrong'? So what does he want then....markets to DROP? Because all I see is re-ramped indexes back to Friday morning levels. 

Nothing to see here...move along and keep depositing your moneez.

Wed, 03/20/2013 - 08:54 | 3351677 MFLTucson
MFLTucson's picture

"this is temporary," and adding that he "is hyperbullish on the US economy," and that "global markets will be up 20% this year." 

 

This man is a fuckin fool and I am surprised that Zero Hedge would post such bullshit! Hyperbullish on a possible 1.9% growth in GDP?  Smart guy!!

Wed, 03/20/2013 - 08:55 | 3351681 azzhatter
azzhatter's picture

Really, when will the people finally say enough is enough and stop participating in the ponzi? When

Wed, 03/20/2013 - 08:56 | 3351685 Dave654f
Dave654f's picture

The hubris is foo the chart!! Is Jamie D-richer then him?

Wed, 03/20/2013 - 08:55 | 3351686 FubarNation
FubarNation's picture

I wonder if "I don't care" in finklation means "I'm in balls deep and don't want to talk about it"?

Wed, 03/20/2013 - 08:56 | 3351687 sampo
sampo's picture

That's right!

If you're all - in in the confetti business, you don' really care.

Wed, 03/20/2013 - 08:56 | 3351688 MiltonFriedmans...
MiltonFriedmansNightmare's picture

Fucking fascist, go fuck yourself Fink.

Wed, 03/20/2013 - 08:56 | 3351689 jimijon
jimijon's picture

The increase in just Ad Hominem attacks is both crude, dumb and boring. I miss the old ZeroHedge of wit, insight, and some true laughers. So you don't like what a person says, so you don't agree, please rise above your IQ a bit and clean up your writings.

This was a PSA from an old time ZH'er.

Wed, 03/20/2013 - 09:04 | 3351726 adr
adr's picture

We've tried facts, intellectual arguments, citing historical precedent, none of it worked.

You then realize you are fighting kindergarteners.

All you can do is call them a poo poo head and move on.

Wed, 03/20/2013 - 09:07 | 3351745 BandGap
BandGap's picture

Maybe just letting off steam?

Now back to your regularly scheduled program.

-Larry Dingleberry

Wed, 03/20/2013 - 09:18 | 3351793 MiltonFriedmans...
MiltonFriedmansNightmare's picture

Apparently someone has no appreciation for the literary device know as alliteration....

Wed, 03/20/2013 - 09:26 | 3351845 ReactionToClose...
ReactionToClosedMinds's picture

Fink, Buffett, Dimon, et al

once upon a time respected them even though I may not have 'bought into' all that they uttered publicly .....now  view them all as hyper-crony capitalist hypocrites.

Want details? ...... too many to cite & waste more time

___________above from an "old time ZH'er"

Wed, 03/20/2013 - 09:53 | 3351933 tarsubil
tarsubil's picture

This is the guy who had a hand in creating MBS. He is adept at losing a billion here, a billion there. He thinks Japan is on the way back. Unemployment is still high and going down by having low wage jobs replace middle wage jobs; food stamps are at all time highs; the US government is completely dysfunctional; he concludes that it is time to be hyper bullish for the US. And HE IS MANAGING $3.8 TRILLION. This guy shouldn't be managing a lemonade stand. What is there to argue? This is all bullshit and he is a "floater."

Wed, 03/20/2013 - 11:48 | 3352365 MagicHandPuppet
MagicHandPuppet's picture

You mean back when "Gold, BITCHEZ!" was the most common comment posted?  Yes, I remember those days of wit and insight and some true laughers too.  Cheerio!

Wed, 03/20/2013 - 13:08 | 3352779 1000924014093
1000924014093's picture

You're thinking of a different website.

Wed, 03/20/2013 - 08:56 | 3351690 SheepDog-One
SheepDog-One's picture

I'm surprised Fink stopped short of declaring 'Ludicrous-Bullish!'

Wed, 03/20/2013 - 09:01 | 3351713 adr
adr's picture

He went bullish plaid a long time ago.

Wed, 03/20/2013 - 09:30 | 3351863 tarsubil
tarsubil's picture

Fuck it! I'm plaid bullish!

Wed, 03/20/2013 - 08:57 | 3351693 SheepDog-One
SheepDog-One's picture

Well...another major disaster declared 'just fine, nothing to see here' and we're back to full pump mode on equities once again! All is truly WELL!!

Wed, 03/20/2013 - 09:00 | 3351694 Antifederalist
Antifederalist's picture

Fink is a piece of shit. An Oligarch of the first order.

FUcK YOU FINK.

Fly your private jet to France and this time do not come back.

We know what you are. Shame on you.

Wed, 03/20/2013 - 08:58 | 3351695 PUD
PUD's picture

Just one more cocksucker who I would gladly play my bagpipes for at his lynching

Wed, 03/20/2013 - 08:58 | 3351697 Everybodys All ...
Everybodys All American's picture

These people are pathological and they will have to be dealt with when this all goes down again.

Wed, 03/20/2013 - 08:59 | 3351700 Eally Ucked
Eally Ucked's picture

First of all Larry comes out of it as total idiot who really doesn't know what he talks about (different case because deposit insurance and prioritzed liabilities in US), secondly those Cypriots must be the bunch of idots too hiring Larry who doesn't care to represent them in any capacity. And at the last he just do stupid marketing job for markets. 

Wed, 03/20/2013 - 08:59 | 3351701 adr
adr's picture

Isn't Blackrock cutting 10% of its staff?

Is that HYPERBULLISH?

Perhaps instead of guillotines we can to crucifixions on stars of David. Actually I think that is already a Zionic satanic ritual.

Ehh, still a good idea.

Imagine the warning of 500 bankers nailed to giant stars of david lining Wall and Broad.

Wed, 03/20/2013 - 09:00 | 3351710 Sean7k
Sean7k's picture

The arrogance of the ruling Elites. Funny how desperate they are to put a good face on Cyprus and the confiscation of savings. As if insurance covers that...Spain has modified their constitution to allow the same confiscations. How long until other nations follow suit? 

In the land of the free  (har, har), you cannot have a bank that is not tied into the FED system, so do we have free choices? Talk about barriers to entry...

I'm sure global bourses will be up huge this year, but then again, so will all prices to reflect it. That happens when you dump liquidity into economies without concurrent production. The Nikkei is a great example, look at the new highs! Too bad for the people establishing new lows. 

The renaissance is over, the Elites have produced enough population to dictate wage levels and living conditions, welcome the new feudalism. 

Wed, 03/20/2013 - 09:02 | 3351718 The Axe
The Axe's picture

Larryis right....Fed money hose on     nothing else matters.....thats 85 billion a month......Cypriot    10 billion   who fucking cares.....

Wed, 03/20/2013 - 09:04 | 3351727 Confundido
Confundido's picture

Doesn't Blackrock also sell paper gold via ishares???? 

Wed, 03/20/2013 - 09:04 | 3351728 MiltonFriedmans...
MiltonFriedmansNightmare's picture

"the US is going from strength to strength"...he "is hyperbullish on the US economy"...They don't ring bells at the top, so the saying goes, but it sounds to me as if this motherfucker just rang the mother of all bells. What the fuck does he know that the rest of us don't....almost sounds as if that iceberg is dead ahead.

As an aside, I didn't think it was possible for any man to be more amoral than Jamie Dimon, but this motherfucker just may be.

Wed, 03/20/2013 - 09:07 | 3351730 Pegasus Muse
Pegasus Muse's picture

Ah, how times have changed.

===========

Stocktwits ‏@StockTwits 10h Tonight's history lesson: In 1941 the $FED said no to taxing Bank Deposits http://stks.co/hPEg via @hertcapital $STUDY

http://stocktwits.com/message/12636721

Wed, 03/20/2013 - 09:06 | 3351737 tuttisaluti
tuttisaluti's picture

I'm super bullish giselle buendchen.......LOL

 

Wed, 03/20/2013 - 09:06 | 3351738 Downtoolong
Downtoolong's picture

I trust this guy as far as I can kick a 100 lb brick.

Wed, 03/20/2013 - 09:07 | 3351744 Tom.the.Bomb
Tom.the.Bomb's picture

Madoff and Fink exactly the same !!!

Wed, 03/20/2013 - 09:08 | 3351748 jmcadg
jmcadg's picture

'This dip ...' 

Was I the only one that thought Tyler ment Fink when reading the above.

Wed, 03/20/2013 - 09:08 | 3351750 Rayfp65
Rayfp65's picture

Problem is, there is no Accountability, you can say whatever you want on TV or in Print, if your predictions do not Materialize, OH WELL!!  Just like Cramer, when he makes a huge error pushing his viewers into the wrong stock, his answer, "I own it" sorry, NO, the viewers who bought the stock on his recomendation, "OWN IT". If Mr. Fink makes statements like, "20% higher this year" and it doesn't happen, there should be some kind of price to pay, I think you would see a lot less Sell siders pushing their books.

Wed, 03/20/2013 - 09:08 | 3351753 tornado_watch
tornado_watch's picture

Jan. 2 (Bloomberg) -- BlackRock Inc.’s Laurence D. Fink, who heads the world’s largest asset manager, tempered his optimism for the stock market in the first quarter after saying he’s disappointed by the bill U.S. lawmakers passed to avert spending cuts and tax increases.

“I look at this as a very bad warning sign,” Fink, chief executive officer of BlackRock, said during an interview today with Erik Schatzker and Scarlet Fu on Bloomberg Television’s“Market Makers.” He said he would buy bonds, while being more cautious on equities in the short-term.

Jan 2--Fink cautious with S&P at 1462, DOW 13,412--100 / 1,000 points later, "hyperbullish"...

Wed, 03/20/2013 - 09:09 | 3351756 jmcadg
jmcadg's picture

What an arrogant cunt. I feel better already.

Wed, 03/20/2013 - 09:10 | 3351757 forwardho
forwardho's picture

We have now entered the Twilight Zone.

Where loss is profit.

Where declining output is increased productivity.

Where transfer payments = higher GDP.

This is naked propaganda.

Wed, 03/20/2013 - 09:11 | 3351758 IamtheREALmario
IamtheREALmario's picture

What else can Larry the fink say? His livelihood and self-image are completely dependent on the financial system having total control of the people. He must try to mitigate the impact ... but no one trusts Larry the fink.

"This is not the breaking of the covenant between the financial system and the people you are looking for. Move along, move alone."

It just shows how separated from the people and value adding activity the creators of fiat have become. They want to preserve the illusion of their importance while at the same time they are systematically reducing the positive impact that it has on the people they ultimately are dependent upon. But they do not see it that way. They believe they are the gods among men ... simply because they have the power of the printing press. Not a great way to choose a god if you ask me.

Wed, 03/20/2013 - 09:27 | 3351850 sdmjake
sdmjake's picture

+1

Wed, 03/20/2013 - 09:10 | 3351761 Toolshed
Toolshed's picture

Either Fink is a complete fool, which I doubt, or he is trying to buy time while he gets his finances into a "more comfortable position".

I vote for the latter.

Wed, 03/20/2013 - 09:13 | 3351775 Yellowhoard
Yellowhoard's picture

In other news, Bambi, a popular New Orleans hooker, has made a statement that she is not riddled with syphilis and herpes.

"These unfounded rumors are bad for business and I want to assure all of my customers that all is well and the water is warm so come on in!"

Wed, 03/20/2013 - 09:14 | 3351779 Trenchf00t
Trenchf00t's picture

In other words: Line up, greater fools, I got some "assets" for you!

Wed, 03/20/2013 - 09:14 | 3351781 Shevva
Shevva's picture

Yer and try as he might this man will not have one single happy day in his angry self hateing life.

Wed, 03/20/2013 - 09:19 | 3351788 Downtoolong
Downtoolong's picture

Cyprus, "I don't really care", as long as we can continue to collect a fee for advising them.

Advising them what? That you don't care? It's laughable how hypocritical, convoluted, and contradictory these guys are when they speak. Bottom line, when an incident doesn't represent a huge new profit potential for them, they don't care. But, you can bet your ass they're looking for one in this mess, and they'll throw anyone or any economy under the bus to get it when they find it. Try to stop them and you'll be facing an army of their lawyers.

Wed, 03/20/2013 - 09:16 | 3351791 Mad Mohel
Mad Mohel's picture

Another bloodsucking jew bastard. Wake me when one of those motherfuckers isn't robbing someone.

Wed, 03/20/2013 - 09:26 | 3351795 TomGa
TomGa's picture

"When it gets serious, you have to lie."

 

All these guys are scared to death over Cyprus as is obvious from the bravado, and if they admit it, the whole thing falls apart immediately.

 

Just like walking onto the floor of the NYSE and yelling out an order for 10,000 shares of XYZ as the market was collapsing. Human psychology hasn't changed one bit in 80 years.

 

 

Wed, 03/20/2013 - 09:18 | 3351798 dobermangang
dobermangang's picture

Fink is a terrible last name to have.  He should change it to Liesman.

Wed, 03/20/2013 - 09:22 | 3351815 ReactionToClose...
ReactionToClosedMinds's picture

Fink, Buffett, Dimon, et al

once upon a time respected them even though I may not have 'bought into' all that they uttered publicly .....now  view them all as hyper-crony capitalist hypocrites.

Want details? ...... too many to cite & waste more time

Wed, 03/20/2013 - 09:39 | 3351885 dontgoforit
dontgoforit's picture

I agree with you.  The 'good-ole' boy network has never been stronger.  It's a fluid group.  Kind of takes the shape of thinga around them.  Hard to pin down because they're not opposed to spinning for what they want - kind of like the whole universe rotates around 'their' world.  An amazing thing to see.  Don't know whether to laugh or puke.  In spite of everything, I almost feel sorry for them.  Sociopaths in the truest sense.

Wed, 03/20/2013 - 09:43 | 3351898 GMadScientist
GMadScientist's picture

You were a simp then and you're waking up now.

Welcome to the fucking party; now dance, bitch.

Wed, 03/20/2013 - 09:22 | 3351817 brady
brady's picture

Einhorn is Fink...le. Fink...le is Einhorn. LACES OUT, CYPRUS!!!

Wed, 03/20/2013 - 09:25 | 3351836 Seasmoke
Seasmoke's picture

Just another Jew fink.

Wed, 03/20/2013 - 09:30 | 3351862 little buddy bu...
little buddy buys the dips's picture

white guy named fink in suit and tie. shit-eating "smile".

 

his lips appear as though they would leave paper cuts on your cheek if he kissed you.

 

i'd bet a silver eagle he's a sociopath. giveaway: "I don't care."

 

easy pick.

 

fuck the bankers. the sooner we see one swinging from a lamp post, the better for everyone. disable martial law now: start hanging bankers.

Wed, 03/20/2013 - 11:35 | 3352312 Nehweh Gahnin
Nehweh Gahnin's picture

"his lips appear as though they would leave paper cuts on your cheek if he kissed you."

 

Thx a lot.  Now I have to eat breakfast all over again...

Wed, 03/20/2013 - 09:36 | 3351877 dontgoforit
dontgoforit's picture

Fink is a dink.  20% this year.  I'll bet you it's down that much.

Wed, 03/20/2013 - 09:36 | 3351878 yogibear
yogibear's picture

His last name fits him well.

Wed, 03/20/2013 - 09:40 | 3351889 GMadScientist
GMadScientist's picture

Mr. Fink thinks the FDIC can protect you from a wealth tax?

People really give this aptonymic asshole their money to manage?!

Wed, 03/20/2013 - 09:46 | 3351909 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

Larry "Rat" Fink.

Wed, 03/20/2013 - 10:44 | 3352136 Antifederalist
Antifederalist's picture

yeah, I will rename him "Rat".   Must have sucked to be him in grade school.  Actually.....guess it still sucks.

Wed, 03/20/2013 - 09:54 | 3351939 GrinandBearit
GrinandBearit's picture

Larry Fink,  Steve 'Lies'man,  Mike Hunt,  Ben Dover,  Amanda Huginkiss,  Hugh Jass, etc... 

Wed, 03/20/2013 - 09:57 | 3351942 Mario55
Mario55's picture

What an unbelievable arrogant! Do you have to be like this to be Secretary-ible?

As for his comment about France, Moscovici must have dared turn his services down to solve France problems !!  Link has been outcocky-ed.

 

 

Wed, 03/20/2013 - 10:01 | 3351967 zdk45
zdk45's picture

Imagine an entire industry based on how best to deceive, the greatest number of human beings...imagine a nation. Could. not. make. this. shit. up.

Wed, 03/20/2013 - 10:04 | 3351979 d edwards
d edwards's picture

Nothing to see here, move along! Sounds like someone whistling past the graveyard at midnight, any way he's probably got his money safe in pm's.

Wed, 03/20/2013 - 10:08 | 3352000 Bunga Bunga
Bunga Bunga's picture

Subprime is only a tiny tiny dip. Subprime likely to be contained. Sounds familiar?

Wed, 03/20/2013 - 10:09 | 3352004 Quinvarius
Quinvarius's picture

Larry doesn't see a problem anywhere with anything.  Talk about setting off one's BS detectors.  He loves everything.  I don't like his adjective "hyperbullish".  I don't like hearing that from the establishment.

Wed, 03/20/2013 - 10:25 | 3352068 glenlloyd
glenlloyd's picture

Never liked him...

Wed, 03/20/2013 - 10:38 | 3352114 ZIRPThis
ZIRPThis's picture

This assdouche-on-the-take is the Bobby Petrino of finance.  He'll look at your red ink & tell you it's black, tell you how excited he is that the ink is black, and then right before everything goes to shit he'll already have employed one of his backup plans to get out of town, which in this case will be a handsome bailout courtesy of you & me.  That's what fucking pisses me off more than his braindead comments.  Zombies like him should be the first ones to fucking lose everything for being so assholishly stupid about basic economics, but will be one of the first ones to be made whole with fake money the rest of us have to repay with interest.  Ready to secede yet?

Wed, 03/20/2013 - 10:45 | 3352139 22winmag
22winmag's picture

Isn't Blackrock the big scum... errr slum lord company buying all the houses people couldn't afford to rent them back to the same people who still can't afford it?

Wed, 03/20/2013 - 10:56 | 3352181 Clint Liquor
Clint Liquor's picture

Lary Fink "I don't really care".

Translation: as long as we still get Carried Interest, I'm cool.

Wed, 03/20/2013 - 11:20 | 3352254 moonstears
moonstears's picture

Translation: "Well, the peons in Cypressss must understand that the Fed lends US Govt and banks many times their problem figures per month.  I'm rich, you're not, where's my ascot? I think US peons should buy stocks so we can unload, because if we only fuck IRAs, and 401Ks, well,  US peons might be pissed like Cyproid's peons."

Wed, 03/20/2013 - 11:32 | 3352300 Nehweh Gahnin
Nehweh Gahnin's picture

Fink is just THE lamppost decoration to have this Jubilee season!

Wed, 03/20/2013 - 11:40 | 3352327 tony bonn
tony bonn's picture

larry fink's last name is most appropriate and is certainly a summa cum laude graduate of the "that's why i am richer than you" school fucktardery.

Wed, 03/20/2013 - 12:32 | 3352550 epwpixieq-1
epwpixieq-1's picture

"I am hyperbullish on the US economy" 

Humm, lets clarify for the mentally challenged US consumer:

I am hpyperbullish on the unsustainable path the dumb US consumer has embraced with the guiding hand of the ponsi and wasteful financial system, we proudly have, integrated with the highest level with the semi-fascist government. 

I am especially hyperbullish, for I know, we will continue pushing the limits of the current system as long as we can sustain it. Meanwhile if we get some breakups, we surely will be bailed out (of course) because:

a) we have insurance from the FED cartel that will print as much as is needed in order to perpetuate

b) the option of not printing is disastrous for everyone ( of course mostly for people like me who gained control over the corrupt system: "this is why I am richer than you")

And when the BIG rebalancing startes to materialize on the streets, and the socioeconomic fabric can not support its weight any more ... well who cares, I hope I will not in the game any more (one way or another).

 

Wed, 03/20/2013 - 12:36 | 3352585 ZIRPThis
ZIRPThis's picture

That should be our new national anthem.  Also, welfare babies and world police.

Wed, 03/20/2013 - 13:17 | 3352826 Spore
Spore's picture

"HYPERBULLISH" Thanks for the warning bro!

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