Why do I keep hearing about this? Goldman Sachs screwed up, and they have no one to blame but themselves. Chance and bad luck were not involved at any stage. I’m sure the terms were decided on well in advance, and in excruciating detail, which is supposed to be what they’re good at. All the information they needed was right there.

They could (and should) have seen this coming, but instead, they were blinded by greed, didn’t do the math, or both. Boo fucking hoo.