Reporter at The New York Times; author of bestseller “The Fund: Ray Dalio, Bridgewater Associates and the Unraveling of a Wall Street Legend”
For a few months, Maureen Farrell and I have been digging into whether "private credit" is the greatest innovation in the history of modern finance or something darker. It took us (OK, her) to the last seat right by the bathroom in a Greenwich diner, which is where our tale begins...
The lack of transparency and disclosure discussions about private credit are far more interesting than the systemic risk discussion.
Paul Wick
1w
Great article, thanks for posting.
Josh Tejkl
1w
Merchant banking is back!
Such an interesting cast of characters. It’s like they were in my backyard for decades.
Great story setting the foundations for more to cone
RETIRED
1wOn the other side of the financial spectrum is a much more lucrative lending business, equally risky, but unglamorous, and shunned by most investors. It’s called payday lending. At its core, it fills a deep social need, but it can be reformed. A billion dollar company can provide real competition, and still be more lucrative than your run-of-the-mill private credit firm. https://www.linkedin.com/posts/juan-f-abito-jr-8634b573_payday-lending-good-or-evil-activity-7242302168387444736-2ns3?utm_source=share&utm_medium=member_ios