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Wednesday, November 21, 2007|
Larry Fink May Have Found His Calling in at the Helm of the Super-SIV Fund
Larry Fink may be destined for far greater things than running either Merrill or CitiGroup, according to the DealBreaker.com. Fink was either passed up or passed on the top Merrill job and is reportedly not interested in the CitiGroup job, depending on which news outlet you believe. DealBreaker thinks Fink believes he can contain the subprime mess in a different way, by managing the super-SIV fund, referred to by DealBreaker as simply "The Entity", pooled by banks to buy back the troubled securities. Some are not so enthused by "The Entity" though; one fund manager at a Wall Street firm told DealBreaker, "Look. B of A is the Stupid Bank. Citi is the Incompetent Bank. JP Morgan is Villainous. The super SIV is Stupid, Incompetent and Villainous."
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