zlacker

>>g-mork+(OP)
From the Big Short (movie)

Jared Vennett (narration): "In the years that followed, hundreds of bankers and rating agency's executives went to jail. The SEC was completely overhauled, and Congress had no choice but to break up the big banks and regulate the mortgage and derivatives industries."

"Just kidding. Banks took the money the American people gave them, and they used it to pay themselves huge bonuses, and lobby the Congress to kill big reform. And then they blamed immigrants and poor people, and this time even teachers."

>>eduard+tq
It's messed up that Grok underwrote all those subprime mortgages in 2008

>>woah+Ms
I think the argument is that it's messed up that a large debt swap from xAI kept Musk's margin on Twitter from being called by his investors, and now that debt is being absorbed by SpaceX.

>>bandra+ju
> Musk's margin on Twitter from being called by his investors,

Primary and largest investors in X are: Elon Musk, Saudi Prince Alwaleed bin Talal, Larry Ellison, Jack Dorsey.

I don't know that you need to worry about their financial well-being or that they are getting a raw deal.

>>andsoi+vw
I think people are more concerned about SpaceX getting the raw deal here.

>>hayd+Uw
> SpaceX getting the raw deal here.

Have they complained?

>>andsoi+nD
You’re really asking whether anyone at a private company is publicly speaking up against the famously emotional and vindictive owner?

>>acdha+UE
Yes. People are saying they’re worried that the poor private investors of SpaceX are getting the short end of the stick.

That seems like misplaced concerned for an investor class that really aren’t suffering.

>>andsoi+BG
Well, no, the worry is that xAI's bondholders, who are also Twitter's bondholders, will be indemnified from any loss on those bonds at public expense because they are now also SpaceX bondholders and SpaceX is a national security interest of the US.