Could one say that the better banks were hurt less than their peers regarding the subprime mess?
Think about it, GS, had a great year, MS didnt do too badly, neither did Lehman. Citi bombed, Bear bombed... Thoughts?
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"Could one say that the better banks were hurt less than their peers regarding the subprime mess?"
No. Can you say they were better in hedging subprime exposure? Yes. But to insinuate these banks therefore are better IBs is ridiculous.
"MS didnt do too badly."
MS wrote down nearly $10B in 4Q07. Not to mention, you're indicating that these writedowns are over, when the end has by far yet to come.
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