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Umm, no - the two investment banks in question weren't being robbed at gunpoint, they were suffering from their own failures to manage risk, and various other m
by tacostakohashi 12y ago
Umm, no - the two investment banks in question weren't being robbed at gunpoint, they were suffering from their own failures to manage risk, and various other management failures entirely of their own doing.
- ams6110 12y agoI agree. But their "choice" to accep TARP or not was not really a choice. They could accept the terms of the bailout, or die (go bankrupt). Whether or not it was their own fault that they were in that situation is irrelevant.
- desdiv 12y agoYou talk as if these investment banks were poor helpless living creatures or something. They gambled and they lost, then they had their government cronies bail them out. An analogy would be an idiot gambling away his entire live savings on the slot machine, and then going to the house and complaining: "I deserve all my money back because I didn't win."
- drumdance 12y agoCompanies choose bankruptcy all the time. They don't like to do it, but sometimes it's their best option. GS clearly thought it was their second-best option.