BlackRock Downplays Goldman Drama

In that sense, the article, which generally presents a favorable view of Fink, may have also exposed a potential liability for the company. Much as Goldman shareholders now have to take bad PR into consideration, BlackRock investors may want consider whether Fink's hubris could become a problem for BlackRock if he ends up alienating Goldman completely.

A larger issue may be Fink becoming more of a name on Main Street, and the additional scrutiny that could ultimately bring down on BlackRock, which manages and advises on $13 trillion worth of assets, doing everything from monitoring the balance sheets of Fannie Mae(FNM) and Freddie Mac(FRE) to managing money for Abu Dhabi and Singapore.

When you have that much influence, being secretive seems like asking for trouble. Many Goldman critics say that's exactly where the bank has made a mistake. By contrast, Fink appears to have decided that being open with the press and the public is the best strategy. How well it works out for him remains to be seen.

-- Written by Dan Freed in New York

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