Larry Fink, Chairman and CEO of Blackrock that manages $3.67 trillion assets, appears almost embarrassed at his colleagues on Bloomberg TV talking about "who won and who lost" in the "fiscal cliff" non-deal.
While his colleagues (Bloomberg columnists) yak-yak about Republicans as losers and Obama as winner getting "B" grade, Biden gaining more power etc., Mr. Fink says "Excuse me, but the biggest losers are American people."
1:40 into the clip, after a lively discussion of winners and losers on Capitol Hill and White House, Mr. Fink says:
I, I guess I wish we spent less time worrying about who's the winner and losers, because I think American population is the big loser in this... We have two more months of work in front of us to get something really sensible.... I am really afraid we're going to have the repeat of August 2011...
He doesn't manage the world-largest investment firm for nothing.
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3 comments:
Expect him to mysteriously get "suicided" *nudge wink*
Amazing... it takes Blackrock CEO to state that the problem is not the debt ceiling but the debt itself and US govt. solvency. You think an elementary school student could understand this but Bloomberg columnists do not make it that far.
Mr. Fink also seems to think that another downgrade of the US debt is just a matter of time... he is mumbling it rather than saying it but still.
At 3:07, "I am not suggesting another downgrade of the debt, I do not know, that will come"
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