Waste Of The Day: $79M To Not Work

Private Credit's Problems Just Got Real Submitted by QTR's Fringe Finance For most of this year, the private credit story I’ve written about (and warned about) has been about investors trying to get their money out. Now the loans themselves appear to be cracking. The Wall Street Journal reported yesterday that defaults across several of the largest publicly traded private credit funds have climbed to their highest levels in at least five years, while watchlists of troubled borrowers are simultaneously expanding and investor returns are deteriorating. In other words, the private credit mess I’ve been documenting...

Trump Greenlights Saudi Nuclear Deal, Uranium Enrichment In The Kingdom Possible President Trump has formally approved a landmark 30-year civil nuclear cooperation agreement with Saudi Arabia that could be worth tens of billions of dollars and put American companies at the center of the kingdom's nuclear buildout, according to the Wall Street Journal. The accord is expected to be signed Wednesday by US Energy Secretary Chris Wright and Saudi Energy Minister Prince Abdulaziz bin Salman, then head to Congress for a 90-day review. Lawmakers could block it through a joint resolution,...

House Passes Dem Resolution to Block U.S. Military Action Against Iran In Narrow Vote The U.S. House of Representatives passed a resolution on June 3 directing the withdrawal of U.S. troops from armed hostilities with Iran, in a closely divided 215–208 vote. Four Republicans joined Democrats in supporting the measure, which invokes the 1973 War Powers Resolution to require President Donald Trump to either end the operations or seek explicit congressional approval to continue them. The resolution comes amid ongoing tensions in the region. Although Washington and Tehran announced a ceasefire on April...