BlackRock chief executive Larry Fink has speculated that markets do not fully know what consequences the past decade and a half of “easy money” and regulatory changes will bring, especially within the US regional banking sector, which is currently in crisis.
Fink's annual letter to investors and chief executives was delayed for the first time this year, and also delivered a combined address, as opposed to separate letters for shareholders and CEOs. 'This time is different': SVB collapse symptom of easy money rather than systemic banking issues The crux of this year's letter dealt with the "biggest bank failure in more than 15 years, as federal regulators seized Silicon Valley Bank". Fink said this was "a classic asset-liability mismatch", and was cause of two smaller banks also failing in the past week. The BlackRock CEO said it was...
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