Posted on 03/11/2022 1:53:35 PM PST by marcusmaximus
BlackRock has taken a $17 billion loss as a result of its Russian exposure since Putin’s invasion of Ukraine began in late February—and it’s not the only Western bank set to take a sizable hit.
International banks are owed roughly $121 billion by Russia-linked entities, according to data from the Bank for International Settlements—and because of the recent decoupling of the West and Russia, they are unlikely to get most of that money back.
BlackRock’s clients held around $18.2 billion in exposure to Russia-linked assets as of the end of January, the firm revealed. The world’s largest asset manager declined to break down its Russian assets for the Financial Times, but its largest Russian exchange-traded fund, the iShares MSCI Russia ETF, saw its value plummet from roughly $600 million at the end of 2021 to below $1 million this week.
-snip-
Just the tip of the iceberg
BlackRock is far from alone when it comes to Western banks with exposure to Russian assets and businesses. U.S. banks are owed a whopping $14.7 billion by Russian entities, per BIS data.
(Excerpt) Read more at fortune.com ...
Don’t loan money to gangsters.
At this rate, BlackRock will go out of business in about 1,864 years.
They didn’t “lose” anything unless they sold.
Donors won’t pay for this.
Taxpayers will.
That why donors donate to Deep Staters.
Whoops.
Obama: “Don’t underestimate Joe’s ability to 'eff' things up."
KGB Putin promised Brandon that he’d have Kiev in 3 days and it would be business as usual afterwards. Ooops.
Ok it’s gone from 70 billion to 120 billion. Who’s hiding the salami?
Biden did his Huggies at the same time...
Wonder what the exposure is in Commie China. China owns the U.S
More consequences of a stolen election.
Old saw, you owe the bank $1000 and you don't repay. You are in trouble. You owe the bank $10M and don't repay. The bank's in trouble.
Maybe the western financial world should have thought about all of that before getting ourselves into this position.
America’s grave-diggers falling into the pits they dug for others.
Now maybe Black Rock can quit bidding up home prices in certain markets and making them unaffordable for young people starting families.
Let’s say that russia owes $XXX to the west and decides not to pay.
How much $xxx the west owe to Russia?
Blackrock can go eff themselves. They are a bunch of woke wannabe phonies.
Another consequence: the more you look at the stolen 2020 election, the more that you see.
And the more that I'm seeing in previous stolen "elections".
The DNC massively coordinates the vote fraud at the national level each federal election cycle, and once you know where to look, you can see it plainly.
Don’t worry - they will be bailed out by Fed.gov and Federal Reserve in various ways.
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