‼️Elon Musk’s $11 billion loan, used to acquire Twitter (now X), has turned into a major headache for banks, marking one of the most challenging deals since the 2007-2010 financial crisis, as per recent reports by the Wall Street Journal. Seven prominent financial institutions, including Morgan Stanley and Bank of America, backed Musk's October 2022 purchase of Twitter.

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Ordinarily, banks look to offload such large debts quickly to other investors, aiming to secure profits from fees and mitigate risk. However, X's disappointing financial performance has left these loans stuck on the banks’ balance sheets, leading to significant financial stress and impacting their credit ratings.

With X’s poor financial results, the banks are finding it nearly impossible to sell the loans without suffering substantial losses. The situation has dragged on longer than expected, affecting the compensation of departments involved in the deal and setting a troubling precedent for similar transactions in the future.#RCT_TRADERS #tipneeded #LowestCPI2021 #SahmRule #BlackRockETHOptions