Forbes writes: Here’s Larry Fink, CEO of BlackRock, the largest investment manager in the world, talking about Wall Street, his base of operations, in Ron Suskind’s certain-to-be-a -bestseller, “Confidence Men” as he was under consideration to replace Larry Summers as chief economic adviser to the President. Rahm Emanuel had even suggested to Fink that he could replace Geithner as Treasury Secretary, when his term left. In the end Fink shrewdly turned down the invitation, using as his excuse major transactions afoot at BlackRock.
The former Credit Suisse mortgage banker acerbically said of the powerhouse financial community; “Wall Street’s confidence is buying back your shares; that does not add a job. Wall Street’s confidence is doing a merger; that destroys jobs.”
You can read more at http://www.forbes.com/sites/robertlenzner/2011/09/25/blackrocks-larry-fink-blasts-wall-street/
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