Blackrock ha sido designado por el gobierno de los EEUU como gestor de los activos toxicos del sistema financiero de ese pais
No han tardado de surgir voces denunciando posicion dominante de esta empresa. fuente WSJ
The U.S. has selected BlackRock Inc., a money manager and risk-advisory firm, to manage mortgage assets once owned by Bear Stearns Cos. and American International Group Inc. Separately, the firm also has been tapped to analyze hard-to-price assets of Freddie Mac and Morgan Stanley, among other financial institutions in the crisis.
Now, the Treasury Department has preliminarily granted BlackRock a coveted second-round interview to become one of a few money managers to buy toxic assets from U.S. banks, using taxpayer money, people familiar with the matter say. Mr. Fink aims to raise as much as $7 billion to invest through the program, which could yield his firm millions of dollars in fees.
A Treasury spokesman says it is in negotiations to prequalify several fund managers
BlackRock helped shape the government’s toxic-asset plan, which critics have said helps vulture investors buy assets on the cheap while exposing taxpayers to the bulk of losses if the investments sour. Meantime, BlackRock continues to manage $132 billion in mortgage assets, some of which have defaulted.
BlackRock helped shape the government’s toxic-asset plan, which critics have said helps vulture investors buy assets on the cheap while exposing taxpayers to the bulk of losses if the investments sour. Meantime, BlackRock continues to manage $132 billion in mortgage assets, some of which have defaulted.
BlackRock’s multiple hats put it in the enviable position of having influence on setting the prices of both the assets it is buying and selling.
Some critics say financial firms stand to benefit from the process, after Wall Street helped to create the problem.
Some critics say financial firms stand to benefit from the process, after Wall Street helped to create the problem.