Wall Street should be thoroughly embarrassed. According to reports, the banks holding Twitter's debt are already expecting to take a $2 billion hit when they can finally sell it off. It's not hard to see why. I've said from the jump that there was no money in this Twitter venture, and no principles either. Musk was always going to turn Twitter into a reflection of his limited view, his "Earth" — as he put it during his manic rambling at Dealbook — not a place for the average user. I never expected Musk's fanboys to understand that, but I did expect bankers who are supposed to understand who pays for what in a media business to get it. In the end, there's a real chance Wall Street investors will wind up owning the shambolic mess that is Twitter/X. One of the few blessings to come from this fiasco is that when that happens, at least they'll know what not to do with it.