As the legendary Yankee catcher Yogi Berra once said, “It ain’t over ‘til it’s over”. Despite protestations to the contrary by US Federal Reserve chairman Jerome Powell and Jamie Dimon, chief executive officer of JPMorgan Chase – which early this week agreed to take over the ailing First Republic Bank – turmoil in the banking system rages on.
Private credit to the rescue?
Next thing you know, private credit will be bailing out the banking system. Past experience of crises will ‘come in handy’ says one industry professional.
