BlackRock CEO Fink Defends Wall St Protesters
By Laura Marcinek and Matt Walcoff - Oct 5, 2011 8:31 PM ET .
(BLK) Chief Executive Officer Laurence D. Fink, head of the world’s largest asset manager, said he understands the concerns of protesters speaking out against financial firms in New York and other cities.
“The protesting is a statement the future is very clouded for a lot of people,” Fink, 58, said yesterday during an event in Toronto. “These are not lazy people sitting around looking for something to do. We have people losing hope and they’re going into the street, whether it’s justified or not.”
New York City police have arrested at least 700 people since the rallies began Sept. 17. Demonstrators used social media to spread the protests to cities including Boston, Chicago, Denver, San Francisco, Pittsburgh and Seattle. Those drawn to the “Occupy Wall Street” campaign have used signs and chants to denounce banks and corporate influence on politics.
“People are afraid of the future,” Fink said. “We have some structural issues we have to fix.”
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