MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, October 14, 2011 Fink Sees Need for $2 Trillion More Capital Larry Fink is creating headlines with a conference speach made in London. The builder of BlackRock [see profile] told the European audiance that Europe's banks may need as much as $2 trillion in added capital. Fink was at the event to pick up an award from Financial News for being the top asset management chief for the past decade. Winning the award did not appear to brighten Fink's outlook. "Unfortunately, what we're seeing in Europe is a little step today, another little step tomorrow — and this incrementalism isn't working," Fink said according to Dow Jones. Fink added that: "The CEOs I talk to tell me they want to invest. There are mountains of cash sitting out there. But it’s not getting invested right now because businesses aren’t confident that policy makers on both sides of the Atlantic are prepared to address the fundamental issues of deficits and debt." Reuters also reported tht Fink "welcomes" the On Wall Street protestors currently occupying New York's financial district. Printed from: MFWire.com/story.asp?s=38059 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |