David Dayen20h ago
Investors have been fleeing the $3 trillion private credit industry amid fears about bad bets on software firms. But the problem is more old-school, involving predatory lending & a cartel that, having facilitated the crisis, wants to move on to the crash: prospect.org/2026/04/06/p...

The Private Credit Cartels - T...
The Private Credit Cartels

Wall Street wants you to believe AI is to blame for the incipient credit crisis. But the crappy software loans spooking investors are the products of old-economy greed and brazen collusion.

The American Prospect
Show threadDavid Dayen20h ago
What's allegedly been done to Optimum Communications is nuts: prospect.org/2026/04/06/p...
The Private Credit Cartels

Wall Street wants you to believe AI is to blame for the incipient credit crisis. But the crappy software loans spooking investors are the products of old-economy greed and brazen collusion.

The American Prospect
Show threadDavid Dayen
Here's that whole story, with no interruption from programmatic ads: prospect.org/2026/04/06/p...

The Private Credit Cartels - T...
The Private Credit Cartels

Wall Street wants you to believe AI is to blame for the incipient credit crisis. But the crappy software loans spooking investors are the products of old-economy greed and brazen collusion.

The American Prospect
Apr 6 at 2:25pmWeb