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Dumb And Dumber [1]

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Date: 2022-11-03

Yet another story of stupid financiers funding even more stupid “entrepreneurs”.

Deutsche Bank and Trump being a particularly egregious example.

Now we have this:

Banks that lent $12.7bn to Elon Musk for his $44bn Twitter takeover are preparing to hold the debt until early next year as they wait for the billionaire to unveil a clearer business plan they can market to investors, according to three people with knowledge of the plans.Barring an unexpected rally in credit markets this year, the group of lenders, led by Morgan Stanley, Bank of America and Barclays, have conceded they will be stuck holding the debt on their books for months or even longer and will probably end up incurring huge losses on the financing package.

www.ft.com/...

How the feck does any bank employee recommending such loans even have a job?

I cannot imagine not being sacked for such a gross display of incompetence.

Or maybe financiers just live by different rules to the rest of us.

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[1] Url: https://www.dailykos.com/stories/2022/11/3/2133328/-Dumb-And-Dumber

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