BlackRock is a huge (bigly) investment manager based in the US.
Comments are from the head of Canada fixed income at the firm.
You'll recall the news on Canadian real estate lender Home Capital Group:
- Me: Shares in HCG have been on the slide ... Concerns are heightening for snowball/contagion effects
- Followed up by the Canada branch of FXL ;-): Liar loans threaten to kick off Canadian housing crunch as scandal hits
Headlines on the wires now related to this, regulators intensifying their investigations:
- Fed, OCC and FDIC said to inquire about rapid lending growth
Yeah .... not over ....
--
ps. If you need a guide to the alphabet soup referred to
Fed (this is easy :-D ) = Federal Reserve
OCC = The Office of the Comptroller of the Currency
- an independent bureau within the US Treasury
- Regulates foreign banks in the US
FDIC = Federal Deposit Insurance Corporation
- providing deposit insurance to depositors in US banks
