Many investors now believe that private credit is bad enough to need an exterminator - Kackerlackor
(An exterminator is a person whose job is to kill or eliminate certain unwanted animals, such as pests, insects, or rodents, typically in buildings or homes.)
Kackerlackor
With a cockroach infestation, the most effective remedy is to call in an exterminator. The same logic applies to the fast-spreading risks in private credit that JPMorgan’s Chief Executive Jamie Dimon recently flagged.
Fear that it might come to this are contributing to the biggest interruption to risk markets since the Liberation Day tariffs in the spring.
John Authers Bloomberg November 19, 2025
Jamie Dimon, chief executive of JPMorgan, is worried about credit and expressing himself in typically pungent fashion.
Responding to the implosions of the auto lender Tricolor Holdings and the car-parts supplier First Brands Group in recent weeks, he said: “When you see one cockroach, there are probably more.”
Experience shapes expectations. The private credit market $1.5 trillion
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