Key Events This Week: Payrolls, Quarterly Refunding, Confidence, And More Earnings

DOJ Probes BlackRock Private Credit Fund Valuations After Dramatic Repricings It all started in late January, just before the Blue Owl debacle and the SAAS-palcypse sparked a historic crash in private credit.  It was then that in a rare off-cycle disclosure, BlackRock TCP Capital Corp., a publicly traded private-credit fund structured as a business development company (BDC), disclosed a 19% markdown in net asset value as troubled loans weighed on performance. The news not only sent shares of the fund plunging 13% on Jan. 26, the most since March 2020 but market...

Minnesota 'Culture Of Fraud' Enabled More Than $9 Billion In Misused Taxpayer Funds, Panel Says Authored by Janice Hisle via The Epoch Times (emphasis ours), A “culture of fraud” infected Minnesota state agencies, resulting in more than $9 billion in taxpayers’ money squandered, a new legislative report says. State Rep. Pam Altendorf listens as fellow Republican Rep. Isaac Schultz discusses a report released at a meeting of a fraud prevention committee in the Capitol in St. Paul, Minn., on May 13, 2026. Livestream from the Minnesota House of Representatives/Screenshot via The Epoch...

There is a point in the decline of republics when the problem is no longer that government breaks its own laws. Governments will always behave unlawfully. The deeper problem comes when the constitutional machinery designed to prevent those acts stops functioning — when spending becomes detached from arithmetic, presidential power becomes detached from law, and […]