Article
The 'Blame Game' In Private Credit Begins
The 'Blame Game' In Private Credit Begins
Submitted by QTR's Fringe Finance
This morning I warned (again) this wasn’t a normal market in private credit. It was a liquidity event. And today it’s becoming something else too.
According to the Financial Times, the SEC is now questioning whether Egan-Jones, a small but deeply embedded credit rating agency in private credit, can “consistently produce credit ratings with integrity.” That’s not a routine inquiry. That’s the regulator openly wondering whether one of the key cogs in the machine was ever doing its job properly in the first place....
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Iran Arrests Dozens In Starlink Black Market Network
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Bloomberg cites Iran's ISNA news agency, which says local authorities have arrested dozens of people for selling SpaceX Starlink terminals across 19 provinces.
These satellite internet terminals have become popular among opposition and activist networks operating in the country amid an ongoing nationwide internet blackout during the U.S.-Iran conflict.
Sardar Ahmad-Reza Radan, commander-in-chief of the Iranian police, was quoted by the outlet as saying, "From the beginning of the Ramadan War, 48 key members of networks, cells, anti-revolutionary groups, and espionage rings were arrested, and 139...
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Only Power Can Check Power
The radical classical liberals of the past were not so naive as to think that words on paper would prevent the abuses of the central state. Allowing the central state to have a monopoly on coercive power is always a mistake.
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