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A comment on Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk. Parent comment

Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by aslkdjaslkdj on Thursday December 21, 2017 @05:53PM (#15983625)
A simple trading desk does not create the kind risk that caused the financial crisis. The nature of the CDS/MBS contracts the bank owned in their name caused the counter-party risk. Buying and selling bitcoin on behalf of customers does not come with anywhere near the amount of risk as signing a CDS that says Goldman owes a pile money money if AIG defaults.
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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by cm2187 on Thursday December 21, 2017 @05:57PM (#15983661)
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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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by headmelted on Friday December 22, 2017 @07:07AM (#15986883)
> 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

This exact phrase should be painted on the wall of the lobby of every investment bank in the world.

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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by notyourday on Thursday December 21, 2017 @07:41PM (#15984318)
GSCO is not doing this for retail clients.
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