Michael Jackson Refinances For More Spending Money
April 17th 2008

Michael Jackson, who has teetered on the brink of financial ruin for years, has signed an agreement with a Wall Street hedge fund to refinance hundreds of millions of dollars in loans that will save his troubled entertainment empire and his California Neverland estate – though the deal could also portend more money woes in the future.
What future? He’s probably going to die of plastic overdose and his kids are going to be poor and crazy orphans.
The refinancing, according to the insider, would pay off a $272.5 million loan to Fortress, a hedge fund that deals with distressed companies. The balance between the old loan and the new one would give Jackson “spending money,” according to the source.
Spending money for the latest face. He wouldn’t allow himself to lose out to his half-sib La Toya, if you know what I mean.
Jackson, 47, signed the deal in Bahrain, where he has been residing with his children as guests of the royal family. He was assisted in the deal by Ahmed al Khan, an attorney for Sheik Abdullah, the son of the ruler of Bahrain.
Fishy right? Maybe Bahrain doesn’t have other things on TV besides Wacko Jacko’s old concerts.
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