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musicMagpie – why must banksters find new ways to lose money?

The answer to the question is that they don’t because the old ways of blowing up their balance sheets already work jolly well.  And that brings us to musicMagpie (MMAG) a company with a proven fraudster one missed heartbeat from the helm, which has no real USP, which has deceived its investors and is burning cash. Great! That sounds like just the sort of company a bankster would want to do business with as we enter a recession. Coke and hookers all round. Today we learn that NatWest and HSBC have offered it a three year RCF, an overdraft for corporates And boy will music need that cash.

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