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#collateral

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@cdarwin and yes, with #BuyBorrowDie the ultra-wealthy can basically skirt any #taxation as #Musk and #Bezos merely take their #shares as #collateral and by the time they're due to pay their #loans they've already gotten new shares and they just get the taxes on selling off shares written up against the "debt" incured.

  • Just like their corporations legally avoid any #CorporateTaxes by pulling accounting tricks to claim they ain't profitable, they too avoid #IncomeTax or anything else that would offset the #harm they cause to society.

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Received an email by the #NANOG mailing list in which they raise a pretty concerning thing: Apparently, #Spain started to intercept or nullroute certain IP addresses of #CDN providers. The intent is to fight #piracy during #football matches.

Do the people who pass the list of IP addresses even understand the significance of blocking a bunch of #CDN networks of various providers? Seriously?! It #censors access to tens of thousands of legitimate #websites which is blatantly accepted as a #collateral to help out some shady sports association in their #copyright?

How much shadier can a decision be? Since this is a thing, maybe they can think about taking down entire regions in Spain the next football match?

The amount of collateral damage in the name of copyright is ridiculous. The #EuropeanUnion really has to step-up their game in addressing those concerning developments. I read about multiple such blatant decisions so far. Eyeing at you, #Quad9 and #Sony...

Continued thread

The Hilarious Reason Why Elon Musk Is Panicking Over Tesla Stock Value...
newrepublic.com/post/192687/el

"In a 2024 #SEC filing, #Musk was listed as holding... shares of #Tesla stock that were “pledged as collateral to secure certain personal indebtedness.”...

It’s unclear exactly how much of Musk’s shares are held in #collateral now...

If the #stock price goes low enough, the banks Musk borrowed from could force him to sell his shares"

Continued thread

Such existing #loans likely include covenants that prevent owners from subordinating them to other liens—which would effectively reduce how much #Trump can use the properties as collateral, says Jim Wheaton, a #law prof at William&Mary who has studied Trump’s #finances. In simple terms, if a building is worth $50M, & $30M of that is subject to another #loan, the covenant means the other $20M isn’t free & clear to use as #collateral.