Congrats to the bankers and egomaniacs at Blackrock $blk for reigniting the financial world late tonight.

It looks like Blackrock will become the largest asset manager in the world by buying the ETF side of Barclay’s $bcs

First off, I don’t want my money with the largest asset manager in the world. I guess I am alone in that camp.

‘Too Big to Fail’ is done and does not work. ALL rollups die a horrible death and Blackrock will be NO different. This is value transfer and not long-term value creation.

To be honest, the regulators should just stop these dumb deals which almost NEVER create long term shareholder value.

The bankers and Blackrock will brag about economies of scale and lessons learned and investors will pile into financial stocks and all will be right with the world once again.

This bear market we are being punished for decades of lazy financial thinking. Tonight Blackrock will take advantage of it. Common shareholders will pay the price as usual down the line.

The financial marketing is way ahead of the financial markets and light years ahead of the understaffed and undertalented SEC.

Great leadership would recognize this as a long-term problem and step in. Lucky for the bankers and Blackrock, we have none.

Our lazy minds and thinking allowed financial marketers to invade our wallets, savings and retirements. It’s so lucrative, that unchecked, it will never stop.

I was once a fan of ETF’s, but the top is long in on these financial marketing schemes sold on the basis of diversification and cost savings.

ETF’s will continue to work for those that create them and market them smartly as well as the few that know how to trade them. I don’t fit into any of these categories.

As Steve Martin once said ‘I break with thee, I break with thee, I break with thee…than I throw dog poop on their shoes’.