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Good luck with that 1st part.
We found the jealous one 🙄
“But its for AI”
Here’s 20, keep the change!
Loan was not approved. What now?
Be a billionaire of course. This only works if you are rich.
pulls out minigun from payday 2
loan approved
😎
Please dad. It’s for good cause.
Brute force loan application: Keep trying random identities until one goes through.
Set up a shell company. Set up a trust somewhere with no capital gain tax. Shift ownership of the shell to the trust. As the shell, come to an agreement in principal with the bank to buy it. Use this as colateral to raise a loan from the bank for the purchase amount. Transfer the debt to the bank as part of the merger with the shell company. The bank now basically owes itself to itself. Sell the combined company from the trust, thus avoiding capital gain tax.
come to an agreement in principal [sic] with the bank to buy it
I assume this would go as well as Gamestop trying to buy Ebay.
Set the bank on fire and try the next one
take out a smaller loan to bribe the person who appeoves the loans
It’s this what America is trying to do?
Buy up everything and then default on our loans? Yup. If they aren’t trying, their incompetence is actually pretty impressive.
We are trying to outsource our debt to china.
Its all games. I don’t thing people that care are ready for how fucked up humanity is going to get. But worse than that, I don’t think many care.
“They” have humanity by the balls.
And damn… Like I said… I don’t think people understand… All these people we called terrorists might have been trying to save us.
deleted by creator
Man, no trying, it’s past and present tense now, doing and successfully did.
Disco Elysium situation summarised in a meme
This is unironically what people do. They buy businesses, sell all the assets, pay themselves exorbitant bonuses for having a profitable quarter from selling all the assets and then sell the business. After someone buys it it’s like a 60% bankruptcy rate post sale.
And then other businesses that have “too good” numbers buy those failing businesses and let them go bankrupt to use as larger write-offs and get tax rebates.
But the bank is worth $10 billion less.
I feel like the closest real thing is a leveraged buyout
Load all the computers onto my truck. I’m starting a new ebay store.
Step 5: Profit
It’s not actually ridiculous in principle.
Let’s say I start out owning a bank with ten billion in assets, and the bank’s value comes entirely from its assets so it’s worth ten billion.
The bank loans its ten billion to you, and you pay me those ten billion for the bank. Now I have ten billion in cash instead of a bank that was worth ten billion, and you have a bank worth ten billion to which you owe ten billion. No one’s net worth has changed.
You default on your loan to your own bank. Now the bank is worthless (its worth came entirely from the loan) and you have no debt, so your net worth is still zero. Effectively nothing has happened.
Except that there is also value from other clients and from the brand, which is then helping you to actually earn money
The bank loans its ten billion to you
A bank that’s subject to government regulation isn’t going to do that unless “you” have billions in assets to justify that kind of sale.
and you pay me those ten billion for the bank
And surely you report that sale on your taxes and pay the relevant taxes, right?
No one’s net worth has changed.
Except you, once you’ve paid your taxes.
You default on your loan to your own bank.
Ok, so “you” missed the payment. Now what? You think “you” can walk away cleanly? Declaring bankruptcy to wipe your debt is only something that’s available if the government provides that kind of mechanism, and generally that’s only available to people who have otherwise followed all the rules, which wouldn’t include buying a ten billion dollar bank when they had no assets.
The only way this scenario works is if you ignore all the laws. But, if you’re ignoring the laws, why not just make it simpler and simply steal the bank’s assets?
Sweet of you to think that people this rich typically pay their taxes.
Geesh, your point made me think that it wasn’t an actual career path
Is capitalism real?!?!n1?
But now you can lobby the government to bail out your bank using tax money.
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aquire money trough established capitalist social network
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Buy a successful small businesses with employees included.
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Run it trough the ground to extract all profit and value of to recover the money used to buy it
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You barely made money on this but you are “famous company” and they where just an obstacle for your competing products who are making more now.
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Repeat
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Ahem, you skipped a few steps but ya your close to it. https://youtu.be/x9P-pYGu_ws
Spend lots
Go into debt
Buy successful company
Load it with your debt
File (it) for bankruptcy
Make out like a banditRinse, repeat
You can actually skip step 1 if you want. That’s what they did with toys’r’us. Those actions have long since convinced me anything financial is just a game played by the very rich.
Games have rules.
Yeah, and in our current world, there are a lot of specific loopholes that are made to be exploited. It’s almost like the people ‘winning’ the game have written the rules of the game…
Winning is easier by not sticking to them
TL;DR: private equity
step 1: buy a money factory
step 2: profit
