The Market Ticker - WeStupid Everywhere
There are plenty of people who think the WeWork saga is a singular thing and not systemic.
They couldn’t be more wrong.
How do you wind up with $47 billion in lease commitments with only $2.5 billion in cash on hand, NO actual hard assets and zero guaranteed income on a forward basis?
There’s only one way: Either you lied to the people you signed the leases with or they were terminally stupid and driven by a mad scramble for money that doesn’t exist.
One of those is criminal fraud at a grand…….
(Click link to read more)
Source: https://www.market-ticker.org/akcs-www?post=237117
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