The WSJ reported on Tuesday that the debt for Musk's Twitter purchase has been stuck on banks' balance sheets, eating into the ability to fund other deals.
  • 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.
    • sj_zero@lotide.fbxl.net
      1·
      3 months ago

      Really, thanks to the superpower they have of using money that doesn’t even exist (Think you could make money if you could make money out of thin air?) it almost isn’t anyone’s money.

      Except when the bill comes due, then it’s the taxpayer’s money. The middle class didn’t need that money anyway.