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Yup, BlackRock specializes in closing failed banks. That's why the US gov't gave them all the bad banks from 2007 and also why they are a huge company. They'll
by downrightmike 4y ago
Yup, BlackRock specializes in closing failed banks. That's why the US gov't gave them all the bad banks from 2007 and also why they are a huge company. They'll only get larger at this point.
- arcticbull 4y agoDo you have a citation for this? My understanding is small community banks sold by the FDIC to larger banks or their depositors paid out directly. [0] Larger banks - WaMu for instance - were put under the purview of the Office of Thrift Supervision (OTS) and their customers assets and certain liabilities sold. In WaMu's case it was to JPMorgan. [1] [0] https://www.fdic.gov/consumers/banking/facts/payment.html https://www.fdic.gov/consumers/banking/facts/payment.html [1] https://en.wikipedia.org/wiki/Office_of_Thrift_Supervision https://en.wikipedia.org/wiki/Office_of_Thrift_Supervision
- downrightmike 4y agohttps://thestrategystory.com/2020/09/18/blackrock-shadow-bank/ https://thestrategystory.com/2020/09/18/blackrock-shadow-ban...