BodoBen Bank only got a small slice of GS's loan book at 38...

Bodo

Ben Bank only got a small slice of GS's loan book at 38 cents in the dollar. (Paid 8 million, 8 mill*100/38= 21 mill)

The rest (about 600 mill) was loaned out to MIS investors at 100 cents in the dollar.

Regardless of the cost to BEN, the loans are full recourse, meaning the bank can come after the borrower's other assets, including their home.

I'm uncertain if there will be too much public sympathy for those MIS investors involved as they were most likely in top marginal tax bracket and likely to have substantial assets.

Would agree with Molonski, protect your credit rating and pay the loan, or ring fence your assets if you are going to go bankrupt

Have no loans but some forestry and olives projects.

****DYOR******