JP Morgan and Goldman were completely solvent during the entire financial crisis, they were forced to take bailout money by the government (to disguise which banks were actually insolvent).
Where do all these nonsense memes about the 2008 crash come from?
They were, they made a lot of money betting against the housing market while simultaneously selling the products they were shorting. But many banks were insolvent and would have toppled after Lehman if the government hadn’t stepped in, and operating in an environment where their partners were gone would’ve made things much more difficult for Goldman and JP Morgan. It’s not nonsense.
> 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.
Where do all these nonsense memes about the 2008 crash come from?