this post was submitted on 29 Aug 2024
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Technology
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This a beautiful story. Bankers get shafted lending money to apex capitalist.
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No one has ever explained how bankers are losing. They say they've lost money. Yet the only details are Musk has to make payments and put up Tesla stock as collateral. That a no lose for the banks. They don't care if Tesla stock crashes, they are making money from selling it.
If Tesla's stock crashes, then the value the banks could get from selling it is much lower.
If Twitter and Tesla go bankrupt, the banks will have loaned out billions to own something worthless.
At least I would assume that's how it works.
Careful there, bud, you're singing the siren song of bank bailouts.
The proletariat is still sore about the ones in 2008. They revealed plain the stratified economic system.