What were Elon Musk’s lenders thinking?

When Elon Musk sought funding for his bid to take over Twitter earlier this year, he had little trouble finding institutions willing to give him the money he needed. Morgan Stanley took the lead and organized a syndicate of banks, including Bank of America and Barclays, which pledged to lend Musk $13 billion. The whole … Read more

America is lucky Gas prices are not higher right now

You would be forgiven, at this point, for believing in what MSNBC host Chris Hayes calls the “Monocausal theory of gas prices” of American politics. Every major political dynamic, every turn in the approval polls and legislative possibilities, seems to be driven by whether gas prices are going up or down. Let’s consider Joe Biden’s … Read more