- Elon Musk’s Twitter acquisition ended up being the worst financing deal for banks since 2008, the WSJ said.
- The $13 billion in loans Musk took out have been stuck on banks’ balance sheets.
- The loans have cut into pay for bankers and lenders’ ability to finance other deals, the Journal reported.
the bank doesn’t care, but musk does. cashing out some tesla stock to pay the twitter loans hits him twice so he wont do it except out of desperation.
Again why does the bank care? The article claims the bank gets interest and has Tesla shares as collateral. If Musk doesn’t pay they take the shares. So how are they losing?
Boo hoo either Elon loses or the bank. Anyways.
I was hoping for some details to explain the mystery.
I’m curious too my popcorn is ready. I’m cheering for the “both can f themselves” side.