In Q3 2021 they had profits of about 8 billion... This is not a big deal and it's unlikely they'd lose everything. Certainly poses little to no systemic risk.
2,623 karma · joined June 24, 2014
The people who are so negative about this are completely unrealistic. UCSB is putting students in off-campus hotels right now. There is an incredible housing shortage. Munger is taking a very tangible step to fix it. Some students there live in their cars (plenty of windows, I suppose) Give me a break.
It's worth noting that an $85,000 house back then would be much more extravagent than an $85,000 house today as housing inflation has exceeded official inflation rates. Probably more like a 3-400,000 house if I had to guess. Still, an average house.