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Or what Bob Doll probably has in his mouth right now...
How the fuck can you have $3.6T in assets to manage?
Jewish accounting rules.
Haha 7 junks that's all you got. Blackstone blackrock blackstone blackrock.
The Archdiocese of New York runs the event which raises millions for needy children. (that is the purpose of the Dinner, Thank God the Big Name Jews showed up to support the Catholics)
Black Rock is not the same as Blackstone and Steven sold out of Blackstone / cashed out.. years ago. not to say he doesn't play banker in some of the sweeter deals that are beyond the reach of mere mortals.
it is amazing to me (and many others) how the children and grand children of the accounts to the very wealthy.. have far more money that the children and grand children of their former employers. It is almost as if they switched rungs on the economic ladder.
"O" Well! who said hard work or marriage were the quickest ways into money.. I am a firm believer that an accountant and esquire could reach well beyond what even a gold digger without a pre-nuptial agreement could muster.
Consider this a peak into how and why.. as a Country we went from profitable Titans.. to over leveraged trash in the span of 2 Generations.
Hmmm. You think blackstone and blackrock still aren't joined at the hip. Took a lot of work trying to "spinoff"
Blackrock is tied to apple and even uses apple names ishares. LOL
Credit Suisse has a guy on the board of Linux.
Well you write the number down on a bit of paper, then when you put it into a computer that makes it official.
Limited liabilty and (almost) free money? It helped governments create too big to fail.
you don't "manage" $3.6T, it manages you. :)
Dick Handler's next employment opportunity?
Blackrock or Blackhole? Well they have enough client money to cover this temporary imbalance...
Don't they manage pension funds?
Pension funds are the next target to shake down. Did you see TIAA CREF share of MF Global?
Not a coincidence.
You think they make bets with their own money??? They run a little etf thingy called ishares. Take a look at the holdings of IGOV for example. http://us.ishares.com/product_info/fund/overview/IGOV.htm Brimming with Greek, Italian, Belgian, Spanish, Portuguese debt. Chart of the fund looks pretty good, trading around $103. But take a look at the BTPs of '20 in there... market price, effective yield. My guess is Blackrock may be averaging down.
If they liked them at par they will love them at 50% off.
Maybe we now get to see who's too big to fail, but as The Bernank (with an assist from Hank 'Tanks in the Streets' Paulson & Timmay 'I Want to Sit @ The Adults Table' Geithner) prematurely shot the big taxpayer funded wad - to save the VIPs & Friends of the New York Branch of the Federal Reserve 'Bank' - we finally see who might be too costly to save (lest the term 'haircuts' be applicable towards central bankers and definitely below the neckline).
Long live Fractional Reserve Fraud, Kleptocraticism & Crony Capitalism! It's all good.
But not to worry, see, because The Bernank & The Trichet will just conjure some more fiat (I would have said toilet paper, but tp has practical and inherent value - fiat is too rough to wipe one's ass with) from thin air, loan it out with high levels of leverage and encourage risk on bets, and all will be well again. /s
In somewhat related news, the devil's goin' down to Texas:
Blackrock= puppetmaster. Since when does the puppetmster answer the puppets ?
as we are seeing, the 'puppet masters' are over-leveraged and their shadow system is unsustainable
VERY telling...dead cat bounce in the ETFs...but financials do not respond at all.
This is where the broader market starts to get truly ugly.
Blackrock manages a massive amount of assets (via its Crony Capital Contracts).
But we don't really know if even it is a member of the Big Club.
The Big Club is actually really quite small, as former popularly perceived members can attest to (see Lehman & Bear, circa 2008-2009).
For there is absolutely not a shred of honor amongst thieves.
The upticks in the Russell [IWM] have officially hit PATHETIC. There is nowhere to go but down today.
In 2009 when Goldman was taking all of the "squid" heat, I mentioned that it seemed likely that the flag would be transferred to Blackrock where it could manipulate the world without attracting so much attention.
"when will the market ask what Blackrock's gross or net Italian exposure is?"
-AFTER they get downgraded.
When they file for bk?? juust like MF
"When they file for bk??"
-AFTER they plunder their clients money.
Fink & Kapito need to load up on new shares to let us know: "We care"
Get the confidence going again...
i thought BlackRock just managed other people's assets, that's what Fink said on TV anyway
and how do you think managing other assets works like?
Zerohedge have had some great scoops but whoever wrote this piece needs to get a new job. This is so ludicrously misinformed, it's embarrassing. Blackrock are buying these bonds with OTHER PEOPLE'S MONEY you idiots. The company itself has zero exposure. If you need to be told the difference between a money manager and a bank, you are in big trouble.
we might need full disclosure... do you work at blackrock?
Does he know what blackstone means to blackrock.
does the term leverage mean any thing to you?
and just how, exactly do you think Blackrock stays in business?
We have a weiner! All time dumbest comment on ZH.
You do realize they can buy on margin with other people's money?
And they can buy swaps they write themselves with other people's money?
And how long can they lose money before people transfer their significantly diminished accounts elsewhere.
but...but..but.. they are money managers. they don't trade..."OTHER PEOPLE'S MONEY"??? MF Global also was a "BROKER/DEALER", you f**k! d**ba*s b**ch m****rf***er!!
Hello my darling? you want me? i'll give you my gold!!
(i hope you that cutie draghi. or lagarde, the little cunt)
Was that a Cain-style job offer?
AngryGerman, you're a f***ing idiot. MF Global may be a broker/dealer but they traded principal positions alongside client positions. BLK does not trade as principal, only as an agent. This is one of the many differences you'll find between a broker/dealer & an asset manager in your finance textbook 101... when you read it
and no I do not work at BLK
If you had said the same of MF Global, you would be quite red in the face now.
Louis XVI had zero exposure, until he didn't.
MF Global was just making money on comissions asshole. It comes down to using your clients money to bet on the koolaid you been drinking
Soon we will see that no one, no corporation, no country is To Big To Fail. When any organism lowers their standards low enough--that organism will FAIL. Thus is the global financial system, built on a Fiat Fantasy. Yet, like all Volcanic eruptions, the Earth will be well fertilized from this cataclysmic event, and, 10,000 years from now, none of this ponzi economics will have mattered. Blackrock, Itally, Russia, USA- all just experiments in cheating a system governed by the universal law of physics- a futile attempt to cheat the universe-which never works. Prepare for chaos, poverty and war. Back to the dark ages, where Man really functions best anyway.
Good, I will carry club and wear a condom (so I don't get extradited to the US and exterminated).
90% of the World's peepers....never got out of the Dark Ages ! Communism, National Socialism, Muslimania, Tribalism, "Benevolent" Dictatorships etc. ! Monedas 2011 Comedy Jihad Beware the Billion Man Socialist Bureaucrat March
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