BlackRock Responds To Zero Hedge Query On Its Italian Debt Exposure

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 11/09/2011 - 16:16 | 1862688 Conrad Murray
Conrad Murray's picture

Hang them all.

Wed, 11/09/2011 - 16:18 | 1862692 Smithovsky
Smithovsky's picture

BlackRock's share price does not reflect fundamentals.

But in a few days it will.  

Wed, 11/09/2011 - 16:23 | 1862730 Hard1
Hard1's picture

Italy's fundamentals are that their massive debt needs a 30% haircut at least to bring debt to sustainable levels in perpetuity (coverage of interest payments).  That is if nothing else happens to dissapoint.  Oh... wait..... did I say  40% haircut?

Wed, 11/09/2011 - 16:28 | 1862775 ratso
ratso's picture

Blackrock "is comfortable with intermediate bonds".  That can't possibly be true.

Wed, 11/09/2011 - 16:31 | 1862798 Git_Naked
Git_Naked's picture

Love the title of this post. Well done, gents.

Wed, 11/09/2011 - 16:34 | 1862817 dlmaniac
dlmaniac's picture

"what happens if the spreads do reflect fundamentals?"

Declare it a non-credit event and apply some Mark to Myth accounting. All will be fine.

Wed, 11/09/2011 - 16:32 | 1862802 Comay Mierda
Comay Mierda's picture

cant wait to see the blackrock bankruptcy filing to see how much they owe CNBC for pump fees

Wed, 11/09/2011 - 16:46 | 1862884 Hippocratic Oaf
Hippocratic Oaf's picture

Mark to markets?!?!?!?!? Tyler..........when does that ever Happen?

Wed, 11/09/2011 - 18:09 | 1863306 RiverRoad
RiverRoad's picture

Let those chips fall.....

Wed, 11/09/2011 - 17:02 | 1862949 Mactheknife
Mactheknife's picture

Blackrock full of shit.

Wed, 11/09/2011 - 16:40 | 1862848 Ag1761
Ag1761's picture

You didn't say 40%, I distinctly heard you say 60% my good man.

Wed, 11/09/2011 - 16:22 | 1862737 SGS
SGS's picture

Mayday Mayday - BlackCock Down!

Wed, 11/09/2011 - 19:44 | 1863679 I did it by Occident
I did it by Occident's picture

don't worry, maybe Dr. Bernanke will prescribe some Viagra for the unfortunate patient. :)

Wed, 11/09/2011 - 22:26 | 1864242 Buck Johnson
Buck Johnson's picture

No kidding, they are going to really feel it.  Over 7% and still climbing, they think that Italy will be bailed out but who will pony up the trillion or so to do it or calm the market? 

Wed, 11/09/2011 - 16:44 | 1862874 jdelano
jdelano's picture

Uh--anybody notice the reverse flash crash?  Did this really happen?:

Wed, 11/09/2011 - 16:46 | 1862881 Panafrican Funk...
Panafrican Funktron Robot's picture


2nd week October:  There's no way in hell the 10 year tops 6%.  We're a buyer.

3rd week October:  There's no way in hell the 10 year tops 7%.  We're doubling down.

LOL Blackrock.

Btw, speaking of Erik Schatzker, does anyone else tend to want to beat his face with an iron mallet everytime he appears on the air?  He's like a mutant SuperDouche.  

Wed, 11/09/2011 - 17:02 | 1862944 GeneMarchbanks
GeneMarchbanks's picture

'Btw, speaking of Erik Schatzker, does anyone else tend to want to beat his face with an iron mallet everytime he appears on the air?  He's like a mutant SuperDouche.'

You're not alone, friend.

Wed, 11/09/2011 - 16:53 | 1862911 HedgeAccordingly
HedgeAccordingly's picture

in this case.. it is not bro's before hoe's LOL -

Wed, 11/09/2011 - 17:03 | 1862951 Freddie
Freddie's picture

Blackrock = the new Lehman.  I sometimes get them confused with Blackstone.  More scum.

Wed, 11/09/2011 - 18:08 | 1863294 SilverDoctors
SilverDoctors's picture

Nice work Tyler! Keep up this sort of exposure to the MF Global customer assets theft.
For those who haven't noticed, the CME is stating that $80 million worth of COMEX REGISTERED gold and silver are unavailable for delivery due to the MF Global bankruptcy. 
Did Corzine use $80 million worth of clients gold & silver warehouse receipts as collateral for a short term $400 Million loan?

The only way ANYONE at MF goes to prison over this is if the MSM reaches critical mass and the public becomes outraged.  Zerohedge can push this story to critical mass.  Don't let up!

Wed, 11/09/2011 - 18:12 | 1863320 RiverRoad
RiverRoad's picture

Yup.  Keep forcing those MSM bitches to print bro'.

Wed, 11/09/2011 - 16:16 | 1862689 fuu
fuu's picture


They still use fundamentals over there? Trouble.

Wed, 11/09/2011 - 16:19 | 1862714 hack3434
hack3434's picture


Wed, 11/09/2011 - 16:25 | 1862761 GeneMarchbanks
GeneMarchbanks's picture


Wow. That is not going to end well...

Wed, 11/09/2011 - 16:27 | 1862769 fuu
fuu's picture

Nope, that's going to leave a mark.

Wed, 11/09/2011 - 16:16 | 1862691 alien-IQ
alien-IQ's picture

Tyler...I think you just opened up one big-ass can of worms.

this is gonna be fun.

Wed, 11/09/2011 - 16:26 | 1862764 defn8Dog
defn8Dog's picture



Wed, 11/09/2011 - 16:18 | 1862693 TruthInSunshine
TruthInSunshine's picture

Blackrock respectfully asks the already compliant media (thank your for continuing cooperation, main stream media-government proxies of The Treasury & non-governmental but sometimes governmental Federal Reserve 'Bank'), and more likely, intelligent, inquisitive bloggers, backed with facts and data, to refrain from asking relevant questions pertaining to the compost heap of toxic assets it has accumulated en masse.


Thank you,



Wed, 11/09/2011 - 16:19 | 1862706 BoNeSxxx
BoNeSxxx's picture

+1 Homerun TIS

Wed, 11/09/2011 - 17:07 | 1862973 catacl1sm
catacl1sm's picture

HEY! Compost is useful! Italian bonds... not so much.

Wed, 11/09/2011 - 17:25 | 1863077 Freddie
Freddie's picture

Obama and Al Waleed's US media.

Wed, 11/09/2011 - 16:17 | 1862694 ex VRWC
ex VRWC's picture

Deeper.  Let me shove my head deeper into the sand.  Eventually I will see no evil, hear no evil, and you won't be able to hear me speak it either.

Wed, 11/09/2011 - 17:55 | 1863217 Optimusprime
Optimusprime's picture

But your butt will be sticking up in the air.  Hmmm.

Wed, 11/09/2011 - 19:51 | 1863700 I did it by Occident
I did it by Occident's picture

Paging Banzai! 

this would be great cartoon. 

multiple ostrich heads (all the usual suspects Fed, IMF, ECB, etc.) poking out of the ground in china and one of them says, "hey guys, umm, do you think it's time to acknowledge reality?"



Wed, 11/09/2011 - 16:17 | 1862697 Note to self
Note to self's picture

Can we have some numbers with that?

Wed, 11/09/2011 - 16:18 | 1862698 Amused2Death
Amused2Death's picture


Wed, 11/09/2011 - 16:18 | 1862700 FubarNation
FubarNation's picture

The power of ZH. 


It is becoming greater and greater.  Frightening and enlightening at the same time.



Wed, 11/09/2011 - 16:22 | 1862731 alien-IQ
alien-IQ's picture

"You shall know the truth, and the truth shall make you mad"

Aldus Huxley

Wed, 11/09/2011 - 18:15 | 1863333 RiverRoad
RiverRoad's picture

Enlightening is the MO.  Frightening?  That's relative.

Wed, 11/09/2011 - 16:18 | 1862701 dpr10
dpr10's picture

you kick ass tyler...awesome..

Wed, 11/09/2011 - 17:32 | 1863117 Freddie
Freddie's picture

BlackRock - the Joe Paterno of Wall Street.

Wed, 11/09/2011 - 16:19 | 1862703 Dr. Nancy
Dr. Nancy's picture

All that's happening is predictable, as there are 7 stages that every
major economy goes through. Those who know how it works profit & massive
wealth is transferred to them. Several months ago I learned this
information from a millionaire whose site I found & am sharing it with
everyone I know.
His free video

"How To Create Incredible Wealth in Today's Economic Crisis"

is at:
Hope this info helps everyone as much as it has me.
Dr. Nancy

Wed, 11/09/2011 - 16:21 | 1862727 WineSorbet
WineSorbet's picture

Please pedal your pablum somewhere else.

Wed, 11/09/2011 - 16:22 | 1862733 Note to self
Note to self's picture

Clearly you have lost you way on this very confusing internet.  Its a series of tubes, you know.

Wed, 11/09/2011 - 16:29 | 1862782 jcaz
jcaz's picture

Thank you, Dr Nancy-  you're a breath of stupidity in a sea of enlightenment;

You're why I remain short.

Wed, 11/09/2011 - 17:29 | 1863099 RichardP
RichardP's picture

Actually, I think remaining short has something to do with growth hormones.

Wed, 11/09/2011 - 16:37 | 1862835 Piranhanoia
Piranhanoia's picture

she found a millionaire.  The dream of a professional whore.

Wed, 11/09/2011 - 16:38 | 1862841 Vergeltung
Vergeltung's picture

MMmm, spam. delicious.


Wed, 11/09/2011 - 16:38 | 1862843 pods
pods's picture

I will sign up just to protect all the money that the Nigerian Minerals Minister is going to deposit in my bank account.


Do NOT follow this link or you will be banned from the site!