– Meta retains only 20% equity yet maintains full operational control
– This “control without consolidation” accounting technique keeps $270 billion in debt off the balance sheet 2
There is no amount of articles, studies, or evidence anyone can post that will ever convince me this shit should be legal.
Albatross-Helpful on
For an explainer “article”, I think there is almost no explanation happening. This point in particular needs some evidence and detail:
>Insurance companies invest heavily in such projects through private credit
Particularly since the author seems to think PIMCO is an insurance company (I would agree that Allianz is an insurer).
In general, I have a very hard time believing that bond investors aren’t doing their own due diligence on credit worthiness this time around instead of over reliance on ratings agencies.
2 Comments
– Meta retains only 20% equity yet maintains full operational control
– This “control without consolidation” accounting technique keeps $270 billion in debt off the balance sheet 2
There is no amount of articles, studies, or evidence anyone can post that will ever convince me this shit should be legal.
For an explainer “article”, I think there is almost no explanation happening. This point in particular needs some evidence and detail:
>Insurance companies invest heavily in such projects through private credit
Particularly since the author seems to think PIMCO is an insurance company (I would agree that Allianz is an insurer).
In general, I have a very hard time believing that bond investors aren’t doing their own due diligence on credit worthiness this time around instead of over reliance on ratings agencies.