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by cm2187
3106 days ago
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The problem isn't counterparty risk. The risk to GS is the reputation risk. Investors losing money = investors suing. Selling products that you don't believe in yourself = testifying in front of a bunch of angry senators waiving internals emails about "shitty securities" at you. |
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This exact phrase should be painted on the wall of the lobby of every investment bank in the world.