Financial Times FT.com

BlackRock chief attacks Wall Street earnings

By Henny Sender and Francesco Guerrera in New York

Published: July 22 2009 00:08 | Last updated: July 22 2009 00:08

Larry Fink, BlackRock’s founder and chief executive, on Tuesday took aim at the “luxurious” trading profits enjoyed by Wall Street banks, saying that they have taken advantage of reduced competition to charge their customers more for even basic trades.

“There are fewer players. There is very little capital being committed by these dealers,” Mr Fink said.

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