|
|
|
|
|
|
by wrong_variable
2563 days ago
|
|
|
> JP Morgan and Goldman were completely solvent Not really, both JPMC and GS had large insurance contracts with AIG. If AIG fell it would have quickly led to both JPMC and GS collapse too. Its called systematic risk for a reason. |
|
|
Neither had enough exposure to fail due to AIG failing. Rita payouts to Goldman were less than $5bn, much of that being passed on to funds. I don’t recall numbers for JPM, but worst case they wouldn’t have been able to acquire like half of the banks they bought.