Eliot and Citrix

Banks lost hundreds of millions on misbegotten deals. The banks lent 15 billion dollars to cloud computing company citrix. Interest rates for junk bonds went up, and they wound up selling the debt like 13% or something. For every dollar that they had lent out to elliot, they've lost 18 cents. They only managed to sell off a less than half of the total 15 million that they've lent.