Wall Street Banks Dump Billions in Risky X Loans
Wall Street banks are preparing to offload billions of dollars worth of loans tied to X, formerly known as Twitter. The planned sale is generating considerable buzz, with skepticism surrounding the projected sale price. While the banks aim for 90-95 cents on the dollar, many believe this is overly optimistic, with predictions ranging from a far lower 20 cents to a derisive “tree fiddy.” The prevailing sentiment is that the loans are significantly undervalued due to X’s current financial state and uncertain future.
The banks’ hope rests on convincing investors that X’s financial situation has improved. They point to Musk’s increased power and alliance with certain political figures as potential catalysts for a narrative shift, suggesting a turnaround is underway.… Continue reading
Matt Underwood