I can understand the surface appeal beyond greed. Goldman Sachs offers good terms, is willing to have higher acceptance rates, has a strong 'luxury'/'high net w

I can understand the surface appeal beyond greed. Goldman Sachs offers good terms, is willing to have higher acceptance rates, has a strong 'luxury'/'high net worth' feel about the brand etc. Even with the benefit of the doubt it was naive. Did no one think, he maybe there's a reason all these companies with a lot more experience than GS aren't giving credit cards to everyone? The real brand risk was never denying people cards – that still happened anyway, the risk was exactly what's happening now.