Wall St Rapacious Greed Setting Up The World For Another Crash
Posted by freedomforall 1 day, 2 hours ago to Business
Excerpt:
"Back in the “good old days” of subprime mortgage-mania, the business of making loans and securitizing them took on the appearance of the proverbial tail wagging the dog. The participants in the business of making the loans, securitizing them, selling them and managing them could not care less who was actually getting the loan. There seemed to be an endless supply of global capital that “needed” to be put to work in subprime. Wall Street was making billions and the only thing that mattered was creating a loan, no matter how ridiculous, to feed the subprime structured-product market.
We know how all that turned out.
I get the strong feeling this is what has been happening in the Private Market (Private Equity and Private Credit) investment sector.
Let’s focus on Private Credit, a rapidly growing asset class."
"Back in the “good old days” of subprime mortgage-mania, the business of making loans and securitizing them took on the appearance of the proverbial tail wagging the dog. The participants in the business of making the loans, securitizing them, selling them and managing them could not care less who was actually getting the loan. There seemed to be an endless supply of global capital that “needed” to be put to work in subprime. Wall Street was making billions and the only thing that mattered was creating a loan, no matter how ridiculous, to feed the subprime structured-product market.
We know how all that turned out.
I get the strong feeling this is what has been happening in the Private Market (Private Equity and Private Credit) investment sector.
Let’s focus on Private Credit, a rapidly growing asset class."
