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A comment on JPMorgan Scraps New App Service for Young People. Parent comment

Re:JPMorgan Scraps New App Service for Young People by wrong_variable on Thursday June 06, 2019 @08:30PM (#20120547)
> 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.

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Re:JPMorgan Scraps New App Service for Young People by JumpCrisscross on Thursday June 06, 2019 @08:58PM (#20120691)
> If AIG fell it would have quickly led to both JPMC and GS collapse too

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.

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