Wall Street is nuts if they think sane investors are going to pay 90-95 cents on the dollar for Twitter/X debt ... unless they figure the MAGA cult crowd will lap it up like they did those orange sh-tcoins last week, in which case it's a really savvy move to move it from their books onto other willing i̶n̶v̶e̶s̶t̶o̶r̶s̶ victims to eat the losses and pay 'current market value.' LOL LOL LOL
Though I could see smaller firms buying it either on a spec basis or to suck up to the cosplaying CEO business super-jenius given his proximity to FOTUS ....
(free link)
Wall Street Banks Prepare to Sell Billions of Dollars of X Loans"The banks hope to sell senior debt at 90-95 cents on the dollar, while retaining more-junior holdings, the people said. The banks just sold approximately $1 billion of debt in a private transaction to several investors, some of the people said."
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https://www.wsj.com/finance/banking/wall-street-banks-prepare-to-sell-billions-of-dollars-of-x-loans-c609beb1?st=sYiFAe&reflink=desktopwebshare_permalink
