The Monopoly Board: How Apollo Global Management Helps Facilitate Bankruptcy

The US government, the treasury, as part of the deal, they got a big emergency loan in 2020 during the pandemic. 30% of the stock. And well, it's clearly a controlling position. But then you see the teamsters bulking and saying, no, we won't help keep you floating. And then we see Apollo Global Management, private equity firm, scavenger showing up. You wonder what was the deal behind the scenes that makes a real opportunity to- You jam and write off the creditors, you jam the workers, you reconfigure everything in bankruptcy, and then it comes out and Apollo makes a whole bunch of money.