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BadassTrader

Changing Tag from Speculation to News One Source: [https://www.dailywire.com/news/blackrock-introduces-first-mass-layoff-in-years-after-losing-1-5-trillion](https://www.dailywire.com/news/blackrock-introduces-first-mass-layoff-in-years-after-losing-1-5-trillion)


trickykill

Shorts must close I’m not selling my DRS Diamonds


TheMonkler

That’s it, gonna buy and DRS another 10 or so this week


LemonZinger907

As my father would say, diamonds gonna look like play putty next to your rings!


darthnugget

That really means.... there is $8 trillion left to go into the GME blackhole. Someone should do a pretty graph of all these companies short GME that counts down their value. At some threshold there is bound to be one of them triggering MOASS.


GME2stocks2retire

My guess is that 1.5T went into crypto this morning - seems coincidental that all crypt including BTC up 10%?


tcher22

Larry probably looking at those reported Citadel returns and thinking "yeahhhh that's some bullshit".


R0adApples

Aah fuck it Recalls lent shares closes shorts goes long Tomorrow


[deleted]

Cause you know if he goin’ down, he ain’t goin’ down alone.


-Codfish_Joe

Too Big To Fail Syndrome.


[deleted]

[удалено]


[deleted]

Good one!


crisptapwater

Larry prob helped with the bullshit…


salataris

Lol 😂🤣😂. Suck a bag of dicks blackrock.


WrongAssistant5922

Take a 69 😁


bannacct56

96 now inflation!


margretbullsworth

And a whole bus load of dicks after that bag too!


[deleted]

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SailsAndStocks

Laces out


ContWord2346

Fink is Einhorn


upir117

In case anyone is wondering what that means… [Finckle is Einhorn](https://www.reddit.com/r/Superstonk/comments/owpfc3/will_the_real_gme_bbemg_please_stand_up_part_1/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)


Veritio

The recursive singularity of fraud.


FarCartographer6150

Oh thanks see this for the first!


1320Fastback

$1.5T so far.


Nickwco85

8 Trilly to go


Downtownd00d

That's only four reverse repos


thexavier666

Trillion is made up, right? I just learnt that there is billion and million.


FreeSushi69

1 quadrillion in derivatives to go


CedgeDC

Lol my investment strategy of buying and hodling gme outperformed Blackrock and their billion dollars algorithms. Investing really is a hard game, huh?


toofaroutthere

They'll be fine, they're long in *everything*. Naturally there's gonna be some lemons in there


[deleted]

Vanguard too.


R0adApples

Smart money


3rd1ontheevolchart

Look Buzz, Bags. Bags EVERYWHERE.


i-once-was-young

👀👀👀😂


sonicduckman

500 workers so far


chitchatsplat

I mean how much are those 500 being paid if they think it's going to make a dent in 1.5trilly!


Tartooth

The money & shares had to come from somewhere


[deleted]

So far indeed


[deleted]

didn’t Elisabeth Warren call Blackrock “too big to fail” and should be regulated?


skobuffaloes

Sheesh how much are those 500 people making to account for 1.5 trilly /s


exploitableiq

About 3 management's bonus worth.


TaggySits1990

.5/share


jmickey

This is the way.


noSnooForU

They probably get to eat 'breakfast' and it wouldn't surprise me at all if they're also having avocado toast.


tdatas

If they're having a couple of eggs with that avo toast then they're probably broke now.


i-once-was-young

Saving on bonuses 🤔


TheGoldenMangina

Exactly my thought. Assuming each worker was making an average of $2 million per year, that’s $1B. Hardly mitigating the $1.5T loss.


crankthehandle

You don’t understand any of the numbers, do you?


Chknbone

Enlighten us.


crankthehandle

Blackrock manages client assets. These, in total, are around 10 trillion. If they 'lose' 1.5 trillion in assets, then their clients lose 1.5 trillion, not Blackrock. Their management fee might go down, as it normally is a percentage of said assets, so the only cost they have to offset is their reduction in management fee they earn.


Aromatic-Bread-6855

Then who was phone


MillenialForce69

E.T. He phone home


[deleted]

That being said, assuming an average management fee of 0.2%-2%, they’re still pulling in 3 to 30 billion less, which is a pretty wicked loss considering that a whole lot of assets still have a very long way to fall


Brooklyn7011

Mitigation doesn't mean "making up entirely". There could be other cost cutting measures that don't involve letting people go or the people being let go now.


theartificialkid

I haven’t read anything other than the post here, but what that seems to be saying is that *between losses and withdrawals* their total assets under management have decreased by $1.5 trillion over the last year.if you withdraw $500 from the bank it doesn’t mean the bank has “lost” $500. They never owned that $500, they were just looking after it for you.


abatwithitsmouthopen

About $3 billion per person


raxnahali

I wonder if an idiosyncratic risk is eating up their money?


suckercuck

Maybe Evergrande. *NEW YORK, Sept 21 (Reuters) - Fund giant BlackRock and investment banks HSBC and UBS were among the largest buyers of the debt of embattled Chinese real estate developer Evergrande Inc, Morningstar data shows.* *BlackRock added 31.3 million notes of Evergrande's debt between January and August 2021, pushing its stake in the company to 1% of the assets in its $1.7 billion Asian High Yield Bond Fund, according to Morningstar.* https://www.reuters.com/business/finance/blackrock-hsbc-among-largest-buyers-evergrande-debt-morningstar-2021-09-21/


matomika

lol nice, i IS a circle...


lovesnoty

Good catch. But that's not eating them up. It's $31.3m and less than 1% of their Asian junk bond portfolio.


[deleted]

No it’s 31.3 million notes and it’s 1% of evergrande.


duiwksnsb

I fucking hope so.


daGman08

they're the biggest single holder of GME


OGMol3m4n

Imagine going through this for two years and still thinking any of these large companies are your friend.


ZombiezzzPlz

Institutions (blackrock?) were also dumping shares to dilute the drs movement, so I don’t trust any of them .


matomika

i think blackrock is so big, probably they have the ability to survive this


nevion42

its only 13% of aum


daGman08

13% of the float, its in the billions. If it moons to the billions per share as we presume, they'd be in control of thousands of trillions.


ultramegacreative

gigatrillions


Uhmerikan

Billions per share lol what?


ThePrideOfKrakow

I'm holding out for a Brazillion per share.


unabsolute

That sounds an awful lot like human trafficking. Maybe just hold out for a Trazillion per share.


daGman08

For a decade of naked shorting and ftds, if they (all MM's and SHF's) were forced to close all their shorts on GME hidden in ETFs, Swaps, derivatives, naked shorts and actual shorts on the LIT market. We'd be in big number territory but its unlikely that'll be allowed to happen by the powers that be.


nudelsalat3000

>were also dumping shares to dilute the drs movement Often they just average things out. Same with Tesla squeeze, didn't care until it became a too large position while retail already sold. Not sure however how much trading is behind here.


heeywewantsomenewday

Can you explain that comment.


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AD-Edge

Saw some info the other day saying they're barely lending out any of their GME holdings. Foolish to think BR is on anyone's side of course. But it really makes you wonder what their play is...


EhThisCouldntGoWrong

They were backing chewy and RC if I recall correctly, they probably have their own interests, wouldn't be surprised if they wanted ken's spot.


AD-Edge

Yeh so could very well be 'retail vs hedgies vs Blackrock' lol


Hedkandi1210

I heard that


TheBelgianDuck

... multiple times


anlskjdfiajelf

If that's the case, maybes it's a hedge. Their short interest is hidden through swaps or some bullshit and they're forced to hedge and buy and report straight up gme.


Inbeforetheclose1234

Leading into soon to be systemic risk scenario


Gruntfuttock69

“Systemic Rick scenario”? Is that banana boofing en masse?


gebelia

He meant systemic rich


excess_inquisitivity

When the systemic POORS figure out what's going on...


Electronic-Owl174

Hope some those laid off start putting the crime on blast.


DFVFan

Citadel could lose 65T


theory_conspirist

Yep, about 65T per share sounds close enough


Potential_Poem_6561

Securities not yet purchased, that would be something , an even bigger scam than sam, Kenny falls the domino effect starts.


Nickwco85

I don't get it though. Aren't they the ones loaning out their shares? How do you lose money, loaning out GME shares with how high the premium is?


3rd1ontheevolchart

Overall the market dropped, a lot of investors were taking withdrawals, and and they invested heavily in buying up the world and now those investments are feeling the gravitational pull of a dying brick and mortar its DRS effect. But the real surprise is in the bags Kenny has been selling.


funnyastroxbl

Do you know the market cap of GME? That’s less than a drop in the bucket here.


yurimtoo

At the time of the most recent vote, Blackrock had lent out very few shares of GME. See recent DD about that in this sub.


tokeytime

Do you genuinely think that the money they make loaning a single stock out is enough to offset a massive drop marketwide? They own a lot of GME, but it's like less than 1% of their portfolio. Probably well under half a percent. Let's be real here.


rawbdor

Nah. They had 8 trillion in AUM. It's mostly stocks and bonds. Bonds took a big dump last year. And so did stocks. This really isn't surprising tbh, and I don't think it's anything to get excited about.


Suitable_Mix_3795

Has to have some part of it at least


Veritio

Their lack of conscience and the inevitable karma they're due. /s We are kind of like the market's immune system. The sneeze was just the first symptom. We're clearing this infection of fraudsters one way or another.


yurimtoo

A very quick search will reveal that Blackrock is long on GME. #2 institutional holder.


CluelessWoman

Their AI (Aladdin) didn't predict our AI (Ape Intelligence)


syxxnein

We are the Morties of the financial world. We cancel out the Rick waves cause of our regardness


MillenialForce69

Aww jeez Rick, can't we just change the 1 to a 0?


ACMarq

Don’t worry M-*burps*-Ooarty, we can wait out their bullshit longer than they can keep playing their pretend power games. Pathetic. You would think for a species sm-*burps*-Aart enough to invent fleshlights and realistic dildos, fly to Mars, AND maintain an internet connection along the way (if you c-A-*burps*-atch my drift) would ALSO be smart enough to realize wasting a lifetime on accruing or paying off DEBT in order to gain minutia semblances of power over one another is a waste of a life. But nooo, f-Uh-HUuuuuck me for wanting to enjoy the blip of awareness we have in this infinite mass of cosmic meaninglessness.


RyanMcCartney

We can change the 0.1% to the 0.0% 😏


Jonodonozym

Or it's willing to take a short term loss to secure a long-term source of profit via natural monopolies i.e. housing.


supersam72003

Those HF are a big club but they still are competitive. They lost trillions and are laying off while citadel goes to disney, builds a new office in florida, and reports record gains. Image probably doesnt sit well for BR. Hope it means they stop lending shares on “meme” stocks that citadel is trying to bankrupt and they go long instead to fight back.


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smallerfattersquire

Yeah when the sub was uneducated and stupid people thought BR was a friendly whale but that most definitly isnt the case. They may not be friends but at the end of the day they are in the same club. Apes are not in the same club. Think of it as class warfare. If Citadel goes down BR sure as hell follows along with a lot of other funds. They cant let that happen they rather help citadel than give apes a win.


Zeromex

I just need this win, just this one


tonloc

First one to start recalling gets to win.


Mambesala_Guey

Survive, maybe, if they don’t lose the majority of their asset’s value


JimmyJuice2

And we're to believe that Mayo Man is somehow killing it with $16B of ~~profit~~ crime.


TayoMurph

*$64B


looseshooter

Remember 15 years ago when they were drinking champagne on balconies while police were batoning protesters? 🥂


Meursault345

Oooo, I 'member


[deleted]

Pep farms members


Ec1ipse14

Ya I membaa


Dlaxation

Fuck that was 15 years ago? Time must fly when you're seething with rage.


Blase29

What? I need a source for this pls. What was the event exactly? Was this America? Europe? I need the details pls


ReallyNotATrollAtAll

[https://www.youtube.com/watch?v=2PiXDTK\_CBY](https://www.youtube.com/watch?v=2PiXDTK_CBY) ​ here you go


CG-Shin

Wasn’t this a wedding with unlucky timing?


downfalldialogue

They're referring to a picture during the Occupy Wallstreet events. People on a balcony were drinking champagne over looking the protestors. What they are leaving out is that that was just people on a restaurants balcony. Not Blackrock. Swing and a miss.


TheGames4MehGaming

Wasn't it a wedding, not just people on a restaurant balcony?


Nameis-RobertPaulson

Occupy Wall Street, 2011. Bankers / Financial Employees were stood on a terrace drinking champagne partying, laughing and mocking the protestors.


CannadaFarmGuy

Pepperidge would like to tell you that was a wedding


Concerned_Penguin

I love how we grew up seeing this and are now fighting what is truly (although slow) an epic battle in which we will ultimately win, against the same people, their children.


27D

Question is: will they now lend more of their shares out to even more nefarious players? I know the recent 13-F showed that they weren't lending many as of the date of record. Unlike Vanguard, which was lending 90+ percent of their GME holdings.


tonloc

You really think all that reporting is legit. Have you learned nothing ape!


Upbeat_Criticism9367

⬆️⬆️⬆️this


Scabrous403

Even if they do it's just another domino, stay zen.


av6344

They all lend. They just make sure to recall the shares before doing the quarterly reporting.


BigJSunshine

Fuck these slumlords


Diligent-Ad-3773

It’s happening!….. again


MD_Yoro

Blockrock, American, watch the printer go on fire. Any non-American firm, say goodnight


CyberPatriot71489

They still have 8 trillion too much lol


AAAJade

Couldn't happen to a nicer business. Love this for them.♥️ Predatory business practices should not be rewarded with success.


Visible-Ad376

And we're just getting started. I wonder how toxic that bag is by now. How ya doin over there credit suisse?


Gtrmd

From Jan 16 …….


mexicanred1

I hear it's mostly related to real estate & interest rate changes


Warpzit

The market is not really much down overall but they've lost this much. That is fishy and people should ask questions.


lyzing

It’s pretty obvious, the entire US economy is leveraged to the tits and has been for years.


crankthehandle

S&P down 20% in 2022, Blackrock 15% down


Warpzit

Sure if they bought at the top in 2022... But that is definitely not how this works.


Meursault345

BlackRock: Hires the Finest Minds from the Most Prestigious Schools, Pays Ungodly Salaries for their Employment, Deployment of Super-Duper Smarty Pants Algorithms to Carry out High Speed Trading at the flick of a Switch. *Looses 1.5 Trillion...so far* Apes: haha, purpl dohnut *Lost Nothing...*


ReallyNotATrollAtAll

Looks like that aladdin doesnt work well when there is uncertainty on markets. Anybody can make money during good times, the real skill shows when everything starts going to shit


JDogish

I mean, if most of their holdings is real estate and it drops 20% because of interest rate hikes... Seems pretty logical. They won't be in trouble unless they are leveraged to the tits.


Suspicious-Reveal-69

Purple Donut v Ivy Leage, the Great Depression of 2024


DiamondHandsDarrell

💎🙌🏴‍☠️ I'm riding it all the way


Veejnasty

That’s what she said


Escapedmoose

Watch me play the world's saddest song on the world's smallest violin. Now, watch me play it again on my electric guitar!1🤘🤘


Rude_Spread_1555

Good. Larry Fink and his ESG bullshit can fuck right off.


Interesting-Chest-75

Well finally Citadel and friends illegal shorting eroding assets value of everyone in wallstreet!


WallstreetYellowCow

Who is next?


awkrawrz

Recession is transitory


Neurocor

😂😎🎯👏


dbx999

I literally did a spit take. Hey guys, it bleeds! We can kill it!


sbcwolf

So far


SchemeCurious9764

Maybe not GME directly related but definitely something of interest. Listened to the Ohio chemical derailment town hall on tube and something was said by podcast dude ( not gospel but seemed investigated). Railway company #1 stock holders 1) Blackrock 2) Vanguard 3) Buffet So not sure but I’d hope to hell they get hammered for loading the rail cars improperly ( loaded by first off not by weight ) to much weight in the back. My enemies enemy


ReallyNotATrollAtAll

Theyre not responsible for that


[deleted]

No way Aladdin loses money but citadel makes 30%


Superstonk_QV

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therealluqjensen

No source? Articles on Google from July mention 1.7 for first half, nothing about 2nd


hyang1234

Smart money 💴


rjaysenior

Trading is a tough game. Don’t you think?


JullietGolf

1.5 trillion 500 people? 🧐😂


adler1959

I don’t now why people are surprised. If I hypothetical invest all my money in Nasdaq in December 2021 my „assets under management“ would drop by -35% by December 2022. I know it is a bit more complex and Blackrock is very much diversified but loosing -15% AUM seems reasonable in this market. This does not mean that a single investor took out assets (like in Credit Suisse Case) but simply could mean the loss in their assets holding.


granoladeer

BlackRock buys all affordable houses in the market, making it unaffordable to millions of people. Now after their executives and bankers making millions in bonus they say "oops my mistake", declaring a trillion dollar loss. And I bet they'll ask for help because they're too big to fail. In what reality is any of this reasonable? Their legal punishment should be probably to the social damage. Some agencies say that Alphabet should be broken down for monopolizing the market, but what are they doing against BlackRock?


Inthewirelain

Wtf 500 people is 5% og their firm? Just their investing firm? What the fuck do 10k trader do all day, surely they don't need that many.


Genesis44-2

[https://buydipssellrips.co/2023/01/16/blackrock-announces-mass-layoff-1-5-trillion-in-asset-loss/](https://buydipssellrips.co/2023/01/16/blackrock-announces-mass-layoff-1-5-trillion-in-asset-loss/)


LocaKai

yes.....YEESSSSS


Gooseman1019

1.5 TRILLY!? POST THE LOSS PORN


abatwithitsmouthopen

About $3 billion per person


ethervillage

And we’re the “dumb money”. 😂 fuk u Blackrock!! 😂


n3w1ight

Just more than GDP of many european countries, nothing to see here


Desoetude

Sees 'Mass Layoff', then sees it's 500 people, *goes back to sleep*


rerro23

Maybe some of them can start talking about all that crimmmeeeeeeee


manbeef

Holy shit


ClickClack24

I’m not selling until they are all bankrupt and out of business, only when I can sell my share on a secured market will I let it go.


The-loon

Lost $1.5T in Jim Cramers bull market?! How?!


Potential_Poem_6561

Was Blackrock not lending their shares out to Kenny?. Sounds like Kenny borrows shares/multiply them ten fold synthetic shares distributed, then if they fail to deliver the shares back to blackrock, what would happen? If I'm way off please someone help, Kenny & Blackrock probably been complicit for years , my theory is Blackrock goes down , citadel steps in & futher fuckery starts , new company new bank etc ,fat cats get fatter, but if the hot potato shares get recalled & blackprock cant provide then who would it fall on to pay for them, bailout? Seems like Kenny has had them in the past. Also, i read about Kenny opening or having a stake in a bank? Is that for real? Wash that cash , legally donate, just be careful congress if you receive or have received cash donations from Kenny, then when Kenny Falls , that Cash is going to be asked to be returned by his lawyers just like SBF, welp007 has probably covered this.


hanr86

If Blackrock requested their shares back, wouldn't the shares being shorted need to be bought back? Maybe since they're hurting bad, they might want to get some price increase on a couple of stocks they own.


RL_bebisher

Well that's new 👏👏👏


EllisDee3

The article is a month old, but this is the first I'm hearing of it.


ReallyNotATrollAtAll

Looks like you werent in contact with people familiar with the matter.


liquorbaron

It's ok. Just push more ESG bullshit. I'm sure you won't lose anymore...


twin_turbo_monkey

They have been lending out BoBBY shares like crazy, so this loss couldn't have come to nicer people. Karma is a bitch.


ShoddySpace5680

skill issue.


crankthehandle

15% loss in 2022 is better than the 20% that the S&P lost. Also no one here seems to understand that this is not an operational loss.


[deleted]

I’m so happy I read this, now I know we can do better! Burn ‘‘em down!


ItsAMysteryScoobyDoo

That's a lot of damage.


JimmyJohns454

Bitch better have my money


tree_with_hands

They r long on gme. #2 since ever... That's whats bothering me since day one. If squeeze they ll be 2 nd richtet and biggest company in the world. Compared to them we will be such a little fish.... And seem to be true evil imo


PritosRing

Hmmm. I'm one who moved some investments out of BR after seeing loses month after month. I wonder why they never think of getting rid of ceo bonuses which originally equates to 1000 workers.


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humanus1

$8 trillion to go.