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Relatedly part of why it is interesting watching Goldman Sachs' even more recent entering into retail banking (Apple banking and Marcus), including their intere
by WorldMaker 3y ago
Relatedly part of why it is interesting watching Goldman Sachs' even more recent entering into retail banking (Apple banking and Marcus), including their interesting partnership with Apple as something of their "technical R&D department".
- dgrin91 3y agoWhich is ironic because they are now taking large steps to wind down at least part of their Marcus business. Just today I think it was announced that they sold off $1B of loans on the Marcus books, and they are also looking to sell of Green Sky which was bought for their retail banking division just a few years ago.
- WorldMaker 3y agoSome additional layers to the irony, from my understanding, is that much of Marcus' debt came not-so-intentionally bundled from Marcus' purchase of some of (also aforementioned) Capital One's credit card business lines in an attempt to bootstrap more Marcus customers.