So all those people that buying all those Apple products that have boosted Apple sales so much we're actually buying them on debt? Buy now pay later so they weren't real sales at all? So the sales number that's Apple's doing or actually unsustainable when you take away the free money? Boy that's going to cause some downturn in Apple stock when people figure that out. Listen if Goldman is getting out of that business that's because they must be saying a whole lot of bad debt about to show up. They wouldn't be getting out of a very profitable personal loan business if they weren't scared to death that all that stuff was going to turn out to be bad debt.
Goldman wasn't really happy with the deal from Day 1, so this isn't necessarily a surprise. They've been expressing unhappiness, especially since Apple extracted a fairly high savings account rate out of them.
This has never been profitable for Goldman. I'm not sure why they entered into the deal in the first place.
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