Because for every dollar he loaned (which was PAID BACK by the way), he cashed in on selling shares promised, at below market prices! Had his cake and ate it too!
He's a skunk. But he offered these contracts, and they were snapped up by people running insolvent companies. Why? Because NO ONE ELSE would loan them money!
Were they "fair"? NO! But the execs didn't care! WHY? Because the loan was based on shares and shares are CHEAP, when you can wave your magic wand and make more shares magically appear when you need them.
And it all goes on the backs of shareholders!
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