Loan Defaults
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X @Nick Szabo
Nick Szabo· 2026-02-14 04:59
RT Beaver 🦁 (@beaverd)I misspoke when I said "forgiveable"The government guarantees 75% of the loan's value to the bank if the loan defaults.So if you work at the bank, cousin owns the gas station, you give cousin 1m loan, cousin defaults, govt pays you $750kSo you turn 1m -> 1.75m. Infinite $ https://t.co/c1b5QfwfOP ...