Breaking News: Musk's Twitter Loan Nightmare! šØ
Elon Muskās $13 BILLION loan for the Twitter (now X) acquisition has turned into a financial disaster for the banks involved, becoming the worst merger-financing deal since the 2008-09 crisis. Seven major banks, including Morgan Stanley and Bank of America, are left with these problematic loans on their balance sheets, unable to offload them without significant losses. This debacle has been ongoing for nearly two years, negatively impacting the banks' credit and even reducing department compensations. What was once an iconic buyout has now become a historic low in banking history. š±
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