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by goatinaboat
2499 days ago
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Financial Engineering 101 - borrow some money, use it to buy a company. - transfer the debt onto the company. Now, somehow, you own the company but paid nothing for it. - break up the company, sell off the parts, keep the money. The company goes bankrupt and the original lenders get nothing - repeat. Bizarrely you can keep on doing this over and over again, people will still keep lending you the money! |
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