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There are rumours that some wealthy people are in sufficiently dire straits that the loan-based vehicle for a flash lifestyle is now supported only by a very sm
by randomswede 5y ago
There are rumours that some wealthy people are in sufficiently dire straits that the loan-based vehicle for a flash lifestyle is now supported only by a very small number of banks (for them) and their debt instruments are valued well below a 1:1 rate.
It would be interesting to see what happened if a sufficient amount of that debt was bought up and forced to be repaid.
- HWR_14 5y agoAre there any sources you can point to?
- randomswede 5y agoThere were some discussions around this soon after the 2016 US presidential election, stating that the president-elect only had 1-2 banks willing to offer loans. As well as indicating that the estimated market value of the debt instruments was around 72 cents per USD. But, it being around 4-5 years ago, I only have vague memories and hearsay.