peterrabbit

Morgan Stanley Started Down Bank Path Awhile Ago?

Yes, excellent spot. GS is of course putting the best spin on this, so it may be all garbage, exaggerated. What strikes me is how GS was boasting about their bet against the mortgage market last year, and the huge bonuses everyone was getting - but no one thought of putting sufficient capital aside to cover the increased macro risk collapsing housing prices obviously require. Utter bullshit.