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A comment on Goldman Sachs reportedly said Apple Card savings account was a mistake. Parent comment

Re:Goldman Sachs reportedly said Apple Card savings account ... by anon1199022 on Monday October 16, 2023 @12:47PM (#37902585)
Net income can be volatile, just like the stock market? They can never go out of business with direct money printer support. They have very minimal risk compared to even lower banks. That privilege applies to very few at top. Whether people realize it or not. After Lehman, things changed. Apple makes their profit with actually creating products and innovation. GS no.

read here https://en.wikipedia.org/wiki/Systemically_important_financi...

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Re:Goldman Sachs reportedly said Apple Card savings account ... by lotsofpulp on Monday October 16, 2023 @12:55PM (#37902723)
> GS that has direct access to money printer and cheaper credit so they have certain revenue and profit no matter what?

I read that to mean they can decide the revenue/profit, but now I think you meant that they have a certain minimum amount of revenue/profit due to government subsidy, which is probably true.

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Re:Goldman Sachs reportedly said Apple Card savings account ... by xyzelement on Monday October 16, 2023 @12:54PM (#37902696)
Do you understand that you're commenting on a story about GS losing money?
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Re:Goldman Sachs reportedly said Apple Card savings account ... by anon1199022 on Monday October 16, 2023 @12:57PM (#37902769)
Do you understand that they have certain other ways to make more money so this deal which they agreed and calculated, is just part of doing business? And their business at top is protected like few other top institution. So they can make mistakes and then ask the unlimited printer brrrr

Just a lower level of accountability, no matter what. Compared to risks they decíde and keep.

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