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But who is issuing these loans? It should be pretty obvious that you would never see that money back right?
by EricLeer 4y ago
But who is issuing these loans? It should be pretty obvious that you would never see that money back right?
- stefan_ 4y agoThe banks committed to the loans at the point of the takeover proposal (end of April). The macroeconomic lookout was better. Since then, just about every tech stock is down >20% and Musk has helpfully made unfounded accusations of bots and spam and whatnot in a pointless attempt to delay the acquisition, meaning the banks now have to try and unload these loans in a recession. I think last I heard they are giving a 40% discount or just keeping them on their books, hoping for a recovery as Musk trashes the company value further with every week that passes.
- throwuwu 4y agoOnly if the people issuing the loans are basing their decisions off of media coverage.
- pjc50 4y agoPer link upthread: Bank of America, Barclays and Mitsubishi UFJ Financial Group, apparently. I've also heard Morgan Stanley mentioned.
- dncornholio 4y agoDon't forget Qatar Holding and some oilprince from Saudi Arabia which are now also major shareholders