Elon Musk's political ascendancy stirs hopes of redemption for X banks

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Elon Musk's political ascendancy stirs hopes of redemption for X banks - Business Standard

Quick Summary:

Analysts have said Musk's ties with Trump -- who put him in charge of a new government department on efficiency -- could benefit the entrepreneur's various business ventures, which range from Tesla electric vehicles to SpaceX rockets.

If that were to happen, it would allow them to sell the debt without having to take a massive loss on the deal, the sources said.

Instead of crystallizing those losses, banks have been holding on to the paper, the sources said.