Ingen anledning till oro - Privata kreditfonder - We will remember

Situationen påminner om en bankrusning i slow motion – men vad är det som egentligen händer?

Privata kreditfonder är aktörer som lånar ut pengar till företag utanför banksystemet – ofta till bolag som har svårt att få vanliga banklån.

Fenomenet blev populärt efter finanskrisen, när bankernas regleringar och kapitalkrav stramades åt, och har gått från att hantera tillgångar på några hundra miljarder dollar 2008 till 3,5 biljoner dollar knappt två decennier senare.

En person med mångårig erfarenhet av internationella kreditfonder, som pratar med SvD anonymt för att skydda sina affärsrelationer, medger att kreditmarknaden för tillfället är skakig – men att han inte tror att den kommer att påverka finanssystemet som helhet.

– Det där är skitsnack, säger han, och avfärdar bilden av en kreditmarknad i fritt fall.

RE: En bra artikel.

Joel Arvidsson SvD 4 mars 2026

https://www.svd.se/a/6qqdy3/ar-krisen-inom-private-credit-enstaka-handelser-eller-starten-pa-en-ny-finanskris 

 

Volcker argued that bankers’ only invention of the previous two decades that had actually helped people was the automated teller machine (bankomater), while innovations like credit default swaps had “brought us to the brink of destruction.”

JK Galbraith, writer of a classic account of the Great Crash of 1929

https://mises.org/mises-wire/john-kenneth-galbraiths-great-crash-1929-retrospective

In January 1987, a year when the US stock market would suffer the worst fall in its history, he wrote a   article in The Atlantic. 

He found a parallel with 1929 in: the present commitment to seemingly imaginative, currently lucrative, and eventually disastrous innovation in financial structures.  

The 2008-9 crisis showed what could go wrong. 

Regulations obliged many institutions to invest in only the highest-rated credit. That put credit rating agencies in control of where money would go. 

Investment bankers constructing complex mortgage-backed investments worked out how to game the agencies’ rules, resulting in a proliferation of apparently investment-grade debt that soon went bad.

John Authers Bloomberg April 3, 2026

https://www.bloomberg.com/opinion/articles/2026-04-03/did-401-k-innovation-just-get-set-up-to-fail

Jamie Dimon, chief executive of JPMorgan, is worried about credit and expressing himself in typically pungent fashion. 

“When you see one cockroach, there are probably more.”

https://englundmacro.blogspot.com/2025/11/many-investors-now-believe-that-private.html

Private Credit’s Angry Investors; we have seen this movie many times

https://englundmacro.blogspot.com/2026/03/private-credits-angry-investors-we-have.html


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