Larry Fink talks about being approached by European banks trying to liquidate assets

[hvactec]

of 60 billion dollars.

BlackRock queries eurozone solutions
Oct 23 2011 Larry Fink, the chief executive of BlackRock, the largest asset manager in the world, tells the FT’s Gillian Tett that the outlook for the eurozone is troubling and some proposed solutions could make the situation even worse. (9m 13sec)

video BlackRock queries eurozone solutions - view from the top - companies - FT.com

 

[editec]

The good news?

He sees the US economy improving.

8 million home overhang down to a 3 million house overhang.

Europe?

Recapping the banks back up to 9% is, he believes, going to depress the EU economy.

Selling off their dubious assets (to get the cap rates back up to hoyle) hard to do.

Nobody wants them!

Soverign credit?

ESFS (European System of Financial Supervisors) is discussing offering 20% help buying soverign credit? (don't really understand what he's saying exactly here)

He wants IMF and private capital working together to deal with this crises.

But as Italian and Spanish debt instruments won't be able to give a reasonable return (UNLESS those governments also impose austerity?) why would the private sector want to play?

 

[blastoff]

Approached by European banks, huh? He should be careful because this reminds me of some seemingly nice gentlemen from Nigeria who've approached me via email about helping them out with some of their assets. And you know what? Every single time I've tried to help them they've screwed me. I'm starting to get a little suspicious, but still a bit hopeful my latest try turns out better.