> The involvement of the banks was always the confusing part of that deal. Really made me lose respect for their judgement.

Agreed, but to be fair the bank transactions were for debt rather than equity, so they will still end up ahead unless he really does drive the company to bankruptcy. That’s a real possibility, but they’re in better shape than the equity investors who have in one public case[1] already written down the investment 47%.

1: https://amp.theguardian.com/technology/2023/jul/18/twitter-i... (to save you a click: the investor is ARK)