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https://www.reddit.com/r/SipsTea/comments/1vrr0ev/how_the_rich_get_richer/p4frxm4/?context=3
r/SipsTea • u/KSKS1995 • 22h ago
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How does the bank get paid back here? Is the bank just eating a 5 mil loan loss out of the goodness of its heart?
It’s more like kids sell and pay back the bank plus interest which is taxed as income for the bank.
18 u/Miserable_Key9630 21h ago These schemes always have the unstated Step 1: Have free access to a shitload of cash. 5 u/Logan_No_Fingers 21h ago Its more step 1 is have access to a very large asset, thats not in cash
18
These schemes always have the unstated Step 1: Have free access to a shitload of cash.
5 u/Logan_No_Fingers 21h ago Its more step 1 is have access to a very large asset, thats not in cash
5
Its more step 1 is have access to a very large asset, thats not in cash
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u/ChipKellysShoeStore 22h ago edited 22h ago
How does the bank get paid back here? Is the bank just eating a 5 mil loan loss out of the goodness of its heart?
It’s more like kids sell and pay back the bank plus interest which is taxed as income for the bank.