Laurence D. Fink — American Businessman

Laurence Douglas "Larry" Fink is an American financial executive. He is the chairman and chief executive officer of BlackRock, an American multinational investment management corporation. BlackRock is the largest money-management firm in the world by assets under management... (wikipedia)

One of the key elements of human behavior is, humans have a greater fear of loss than enjoyment of success. All the academic studies will show you that the fear of loss of capital is far greater than the enjoyment of gains.
What Wall Street is, they're market makers. Wall Street's business model is making money on velocity of money. They're a click industry. That's what Wall Street is. They make a lot of money when there's a lot of turnover. And they make a lot of money when that velocity is fast.
I am responsible for managing more schoolteachers' and firemen's money than anybody in the world. That's an enormous responsibility.
Social Security is an insurance policy. It's a terrible investment vehicle. Social Security has some great benefits. But it was never meant to be a savings plan. So we need to have a national debate. Should this 12.5 percent that we're contributing all go into a Social Security pool, or should half go into a mandatory savings plan?
I am pleased to be part of Promontory's steady efforts to assist banks and other financial firms in meeting legal and regulatory obligations and challenges.

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