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goldman's asset management arm bought the bonds for client portfolios- not goldman itself. I don't see any controversy here.
by isubkhankulov 9y ago
goldman's asset management arm bought the bonds for client portfolios- not goldman itself. I don't see any controversy here.
- jevgeni 9y agoI agree with you, but also your comment made me think about the absurdity of how most people perceive banking. I.e. "if a bank does it to be profitable, it's bad; but if somebody else does it, it's OK".
- isubkhankulov 9y agoif it reads that way, then know also that the bonds already existed. the IOU shifted from one entity to another.
- isubkhankulov 9y agoalso, how would GSAM look if they didn't let their clients buy this? they may lose those clients and their own reputation.