"If you can borrow $100 billion at 3 and 30, and go for broke, you can make billions and billions for yourself, and if you lose, so what? It's on the banks' books." – Cohodes pic.twitter.com/sZmC2wldo8
— Rudy Havenstein. Few Understand This. (@RudyHavenstein) April 6, 2021
I made a relative lot of money on Facebook stock recently. But if someone had loaned me a few billion, I could’ve made a few billion on it for myself and given the money back (minus the 3 and 30 vig) a few weeks later.
Why is it fair that a bank can do that and I can’t? I’m a better trader than most banks, yet I can’t socialize my losses — I must just take them.
Anyway, no one should be doing anything like this in a sane world. But this isn’t a sane world. So who is going to loan me a few billion?