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Wall Street hopes to get rid of a bad Elon Musk bet

Yahoo Finance
Summary
Nutrition label

82% Informative

Wall Street banks hoping to recover from bad bets they made on Elon Musk’s Twitter buyout.

Banks fronted $13 billion in financing when Musk bought Twitter in October 2022 for $44 billion .

But those loans lost value as the social media platform now known as X struggled, and the banks weren’t able to get them off their books without taking significant losses.

VR Score

86

Informative language

86

Neutral language

50

Article tone

formal

Language

English

Language complexity

46

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Affiliate links

no affiliate links

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