4 ms·
I've heard that phrase before but with a few extra 0s. $2m isn't really that much for a bank these days. Besides they probably were able to get a fair amount of
by rm_-rf_slash 10y ago
I've heard that phrase before but with a few extra 0s. $2m isn't really that much for a bank these days. Besides they probably were able to get a fair amount of that back in the stuff the police took.
- mikeash 10y agoYeah, usually $2 million is around the amount where you have a problem. It's when you owe the bank $2 billion that the bank has a problem.
- Retric 10y agoYep, our next president was over 1 billion in debt which is oddly enough a powerful position to be in as they really don't want you to default. PS: This is where cash flow is so important. If you have debt of 10 billion and assets 'worth' 9 billion but can make debt payments then it's not yet game over.
- EGreg 10y agoYep amazing how he turned it around. I remember a trailer for a documentary on it somehow.
- mywittyname 10y agoHe bought 40 Wall Street for $10MM (in loans), put $40MM into renovations (money which came from loans) and it's now worth $600MM. I too could become ultra-wealthy if someone were to give me a ton of money to buy assets at well below market value.
- EGreg 10y agoWhy was it that cheap for him?
- ensignavenger 10y agoI was once advised that if you are going to drown, it is better to drown in the ocean than a mud puddle.