Absolutely stupid question, but: what I don't get about their lending decision: most everyone back then thought it was a bad idea and banks wouldn't see their money again. So - what made them assess the risks so differently?

From the archive: What is Morgan Stanley smoking in Twitter LBO? - www.reuters.com/breakingview...

Breakingviews - What is Morgan Stanley smoking in Twitter LBO?

Have Morgan Stanley’s bankers inhaled some of Elon Musk’s favourite herb? That’s one explanation for the debt package they’ve put together to fund the Tesla boss’s proposed Twitter buyout . But the loans look more rational if you peer through the smoke.