[motohagiography]

the US treasury secretary was on calls about whether to bail hedge funds out of gamestop to prevent cascading financial system failures. arguably there is nothing that is too dumb to be written about finance. dont let anyone discourage you.

[danielmarkbruce]

Various government agencies are on calls to bail out various players in the financial system all the time and will continue to be. That isn't dumb per se.

[motohagiography]

some things are about other things too. gamestop was peak dumb. nobody knows anything.

[danielmarkbruce]

Any entity with a bunch of counterparties and large numbers who blows up will potentially be saved.

[eru]

Alas, yes. One of the perils of giving the relevant authorities too much discretion.

[danielmarkbruce]

in retrospect i should have said "any entity who has GS as a counterparty will be saved"...

[eru]

Not at all. Goldman Sachs had and has plenty of regular folks as counterparties for their credit cards (branded as Apple Cards, I think). These regular folks don't get bailed out.

See also https://en.wikipedia.org/wiki/Archegos_Capital_Management which had Goldman Sachs as a counterparty and was not bailed out.