hindsightbias wrote: post #2

How times have changed, Goldman giving JPMC a few billion (at least) to get out: https://9to5mac.com/2024/09/10/apple-card-losses-goldman-sac... Goldman: not the smartest guys in the room anymore.

Happened with the GM credit card too.

https://www.bloomberg.com/opinion/articles/2024-09-11/hertz-... (control-f “GS GM”)

> It is pleasing that, in its institutional business, Goldman is a sharp counterparty, while in its consumer business it was an easy mark. If you’re a sophisticated hedge fund trading with Goldman, you might worry that you are the sucker at the table; if you were a middle-class borrower with a Chevrolet and too many credit cards, Goldman was the sucker.

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