Musks Twitter deal deemed the worst in Wall Street since financial crisis [Video]

Elon Musk’s takeover of Twitter has been labelled the worst buyout for Wall Street since the financial crisis.

A total of seven lenders including Barclays and Morgan Stanley provided $US13 billion ($19.3 billion) in financing for the $US44 billion deal, although they have been unable to offload the debt almost two years after Musk took Twitter private.

An analysis of lending data by the Wall Street Journal found this was the longest time that major buyout loans had been “hung”, or unsold since the collapse of Lehman Brothers triggered the 2008 financial crisis.

The poor performance of the loans also contributed to a 40 per cent cut in bonuses at Barclays, according to the report.

Musk bought …