Originally Posted by Daniel72
I don´t want to know how much money all these "pros" borrowed from full tilt, one of the reasons full tilt became a sinking ship...
The amounts make Greenstein's loan look pretty trifling - Ivey reportedly still has millions in outstanding loans: http://www.subjectpoker.com/2011/07/ivey-benyamine/ (old story, but figures unlikely to have changed in the interim).
Originally Posted by dakota-xx
I don't understand why they borrowed money from FT - much less why FT agreed to loan it.
From what I remember reading direct from Barry and others at the time this story first broke, it sounded like it was mostly a convenience thing: it was just easier to "borrow" a few hundred thousand from the site owners rather than try to get that much deposited in any kind of hurry.
Personally I don't think there's anything wrong with the concept per se, provided it's done with the site's own money and not player funds like Full Tilt was obviously doing. B&M casinos
do similar stuff all the time (whether it's really appropriate to hold B&M casinos and online sites to the same standard is another question, I guess).
As to why Full Tilt would want
to do it... who knows? I'm guessing they probably figured a guy like Barry (and others like Ivey - not so sure what they were thinking with Benyamine :P)was good for the money and they were happy to do what it took to stimulate nosebleed action on the site.