Comment by danielmarkbruce
1 month ago
Any entity with a bunch of counterparties and large numbers who blows up will potentially be saved.
1 month ago
Any entity with a bunch of counterparties and large numbers who blows up will potentially be saved.
Alas, yes. One of the perils of giving the relevant authorities too much discretion.
in retrospect i should have said "any entity who has GS as a counterparty will be saved"...
Not at all. Goldman Sachs had and has plenty of regular folks as counterparties for their credit cards (branded as Apple Cards, I think). These regular folks don't get bailed out.
See also https://en.wikipedia.org/wiki/Archegos_Capital_Management which had Goldman Sachs as a counterparty and was not bailed out.
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