$DOGE
๐ฅ THE PRIVATE CRACK ๐ฅ
A $1B bond โscandalโ isnโt just a note โฆ itโs the first fracture in a $1.7T shadow banking machine that powers modern capitalism โ ๏ธ.
EquipmentShare raised $1B via Goldman, Wells, Citi, JPMorgan, and Capital One.
Private โ . Unregistered โ . No public ownership record โ.
Now, lawsuits over alleged fraud and fund misuse hit โฆ and the bonds plummeted ๐. Only the banks know whoโs bleeding ๐ธ.
This isnโt random. It echoes 2007, just in private credit form:
๐ฆ Then: mortgage CDOs
๐ฆ Now: private bonds quietly stacked in pension funds, hedge funds, insurers
Same opacity. Same complacency. Same contagion risk ๐ฅ.
Private credit has 6ร grown since 2010, fueled by zero-rate distortion ๐ฐ. Itโs now bigger than U.S. junk bonds โฆ entirely unregulated.
No SEC filings โ, no liquidity โ, no mark-to-market โ. A trillion dollars built on hope, backed by trust ๐ค.
When trust fails, math collapses โก.
1% default โ $17B shockwave (~15 regional banks).
5% default โ contagion spreads to pensions & sovereign wealth funds ๐.
The dominoes run through the same giants underwriting it. Bloomberg called it โisolatedโ โฆ itโs not.
The post-QE illusion quietly unwinds. Every crisis starts โisolated.โ This time, the isolation is the system itself ๐.
#ShadowBanking #PrivateCredit #FinanceAlert #SystemicRisk #EconomicCrisis