Bank failure

Most people alive today do not remember much about the S&L scandal of the 1980's but it has significance today regarding the bank failure in Silicon Valley. There is a rumor that Elon Musk may buy the bank and that means he must recall the failures in the 80's. After all the dust cleared the government took over these failed S&L's they formed what was called the Resolution Trust Corporation. This Trust was charged with liquidating assets for the best price to minimize the loses. They ended up selling at 20 cents on the dollar and many of the buyers were groups composed of the original owners. Musk is probably looking at buying at 10 cents on the dollar and letter the government absorb the other 90% and knowing Musk, he will probably get the deal. He has methodically ripped off the government from day one in his other businesses.