Reply to Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]On the “everyone into the office or else” hands on meeting Elon also dropped this tidbit.

[twitter]https://twitter.com/catincoggnito/status/1590814859775864833?s=61&t=dqehOkIBn6K7-KooVJFY3w[/twitter][/quote]

This is so weird.

Why would large banks loan him $12.7B only for him to go into bankruptcy? How did any of this get past the banks’ investment and risk committees?

This makes no sense at all.[/quote]

I would hope that he personally guaranteed the loan like the bank made me do when I started a small business. But it would not surprise me to find out that the wealthiest man in the world has different requirements than the little guy. In that case, [b]let the banks eat the loss![/b][/quote]

This is a very big deal for financial system stability. Will likely introduce cascading losses through the system, which may require Fed intervention. [/quote]

I get that this is more complicated than I know, but I am so g*dd*mn tired of "too big to fail." Fine. Too big to fail. But if you can't handle the risk you took on, and the citizenry has to bail you out, then the citizenry should have input into the management hereafter and be getting back some of your profits. Because you are "too big to fail," so now you are no longer just a private company. [/quote]

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