Striking

BlackRock Private Credit Fund Cuts Asset Values By 5%, As Golub Gates After 8.5% Redemptions Just another day in private credit paradise... er, hell.  One day after Gundlach repeated his warning that the private credit crisis will end in tears for bagholders, Blackrock cut the value of its publicly-traded private credit fund by about 5%, as it - like most of its peers - struggled under the weight of troubled loans, markdowns and lower returns. BlackRock TCP Capital Corp., a publicly traded middle-market lending fund, said markdowns totaled $35 million in the quarter...

US Treasury Sanctions 14 Targets For Helping Iran Obtain Weapons Authored by Joseph Lord via The Epoch Times, The U.S. Treasury Department on April 21 announced that it is imposing sanctions on 14 targets “for their involvement in helping the Iranian regime obtain weapons,” in contravention of international sanctions. “As the regime attempts to reconstitute its production capacity, the United States will continue to deplete Iran’s ballistic missile inventories,” the Treasury wrote in a post on X. According to a press release from the Treasury, the targets include 14 “individuals, entities, and aircraft”...

As government lurches from one crisis to another, people demand the government fix the problems it causes. Maybe we need to rethink the “government to the rescue” myth.