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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 2 months 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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[–] [email protected] 10 points 2 months ago (1 children)

Electric vehicles and space exploration are two things that need to happen for humanity's long term survival. It isn't gullibility to applaud someone for moving either thing forward, even if they're just the money guy. We live in a capitalist society, that is just what was going to happen short of another FDR or JFK restoring trust in American government.

It's ignoring the evidence afterwards that is the problem, and you didn't, so there's nothing to be ashamed of.

[–] [email protected] 3 points 2 months ago

Thank you, that's very kind.