Why private credit keeps multiplying like ‘cockroaches’ in the markets

In September, an auto lender named Tricolor filed for bankruptcy. Tricolor specialized in making loans to riskier customers, often with little or no documentation. Just a few weeks later, First Brands, an auto parts company, also collapsed. For some observers, the failure of the two companies last year was eerily similar to events in 2007, when the first tremors of what became the 2008 global financial crisis were felt. Jamie Dimon, CEO of JPMorgan Chase, was one. “My antenna goes up when things like th ...