News for hackers. Stuff that matters.

A comment on Mt. Gox Finds 200,000 Missing Bitcoins. Parent comment

Re:Mt. Gox Finds 200,000 Missing Bitcoins by maxerickson on Friday March 21, 2014 @07:28AM (#7441638)
I'm not sure you mean otherwise, but part of the bailout process in 2008 was to allow Goldman Sachs and Merrill Lynch (now part of Bank of America) to become bank holding companies. The major reason was so they could shore up their balance sheets with cheap and safe FDIC insured accounts.
[ Parent | on HN ]
Re:Mt. Gox Finds 200,000 Missing Bitcoins by hnnewguy on Friday March 21, 2014 @09:57AM (#7442311)
>so they could shore up their balance sheets with cheap and safe FDIC insured accounts.

FDIC insured accounts are liabilities on a bank's balance sheet.

[ Parent | on HN ]
Re:Mt. Gox Finds 200,000 Missing Bitcoins by maxerickson on Friday March 21, 2014 @10:04AM (#7442340)
You are right, they did it to access a lending facility that was only available to them if they switched their structure.

(I made the mistake of talking when I shouldn't have, I wasn't trying to mislead)

[ Parent | on HN ]