Elon Musk’s acquisition of Twitter, now rebranded as X, has turned into a significant financial disaster, marking the worst merger finance deal for banks since the 2008-2009 financial crisis, according to The Wall Street Journal.

**Key Points:**
– Musk’s $13 billion takeover faced severe backlash as Twitter’s financial recovery faltered, leaving banks like Morgan Stanley, Bank of America, and Barclays unable to sell off the debt.
– The loans have been unsold longer than any similar deal post-crisis, highlighting the poor performance under Musk’s leadership.
– Twitter’s value plummeted from $44 billion to roughly $12.5 billion due to a user and advertiser exodus, exacerbated by Musk’s confrontational approach towards advertisers.
– Banks are desperate to offload the loans, with some markedly decreasing their value by hundreds of millions, affecting their overall lending capacities.
– The fallout has resulted in lost standing for banks like Bank of America and Morgan Stanley in the global banking rankings, while some top bankers faced pay cuts of up to 40%.

This situation unfolds a clear warning about the risks of high-stakes acquisitions and the unpredictability of financial markets under volatile leadership.