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Elon Musk's Twitter takeover has ended up as the worst buyout deal for banks since the financial crisis (www.businessinsider.com)

submitted 1 month ago by MicroWave to c/economics

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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.

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[–] Blue_Morpho 3 points 1 month ago (1 children)

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?

[–] trolololol 0 points 1 month ago (1 children)

Boo hoo either Elon loses or the bank. Anyways.

[–] Blue_Morpho 2 points 1 month ago (1 children)

I was hoping for some details to explain the mystery.

[–] trolololol 1 points 1 month ago

I'm curious too my popcorn is ready. I'm cheering for the "both can f themselves" side.