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re: Why is BlackRock, (the FED), buying every "Single Family House", they can find?
Posted on 6/10/21 at 5:05 pm to hubreb
Posted on 6/10/21 at 5:05 pm to hubreb
quote:
BlackRock first grew its balance sheet in the 1990s and 2000s by promoting the mortgage-backed securities (MBS) that brought down the economy in 2008. Knowing the MBS business from the inside, it was then put in charge of the Federal Reserve’s “Maiden Lane” facilities. Called “special purpose vehicles,” these were used to buy “toxic” assets (largely unmarketable MBS) from Bear Stearns and American Insurance Group (AIG), something the Fed was not legally allowed to do itself.
BlackRock really made its fortunes, however, in “exchange traded funds” (ETFs). It gained trillions in investable assets after it acquired the iShares series of ETFs in a takeover of Barclays Global Investors in 2009. By 2020, the wildly successful iShares series included over 800 funds and $1.9 trillion in assets under management.
Posted on 6/10/21 at 5:06 pm to LookSquirrel
A new “potters field” rising up
Posted on 6/10/21 at 5:09 pm to LookSquirrel
quote:
LookSquirrel
You have no clue, Blackrock is contracted by the Fed...they are widely considered the best...other huge firms buy Blackrocks models...nothing nefarious here
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