BlackRock CEO Fink: "Capitalism Went Way Too Far... I'm Guilty, We're All Guilty"
Riaz K Tayob
All Guilty" (VIDEO)
First Posted: 05-18-09 10:58 PM | Updated: 05-18-09 11:42 PM
CNBC assembled a crew of "the greatest minds in business" - former GE
CEO Jack Welch, BlackRock CEO Larry Fink, PIMCO CEO Mohamed El Erian,
Citi CEO Vikram Pandit, AQR Capital Management Founding Principal
Clifford S. Asness, Ph.D., Ogilvy & Mather Worldwide Chairman Shelly
Lazarus, and National Urban League CEO Mark Morial - to discuss the
future of capitalism on Monday night.
Fink was exceptionally honest in his assessment of the financial crisis,
taking blame for his part, and challenging Welch's attempt to point
fingers at the government:
Fink: Capitalism went way too far and there was no one governing the
tails, the excesses of capitalism and im blaming the investors too...
Welch: and government enjoyed it because they got a lot of revenues
from it
Fink: But government accepted this, regulators accepted it, lets be
honest Citi was reviewed every quarter by...but it was the investors
too...I'm guilty, Mohammad, we're all guilty everybody here was guilty
we accepted that model
BlackRock CEO Fink: "Capitalism Went Way Too Far... I'm Guilty, We're
All Guilty" (VIDEO) (19 May 2009)
http://www.huffingtonpost.com/2009/05/18/blackrock-ceo-fink-capita_n_204988.html