Reported 6 months ago
Jamie Dimon, CEO of JPMorgan Chase, expressed concerns about similarities between private credit ratings today and the mortgage market prior to the 2008 Great Recession. He cautioned that some private credit deals are shockingly rated by agencies, echoing past mortgage issues. Dimon highlighted the potential for problems in the sector, emphasizing the importance of proper analysis and transparency to avoid future financial crises. Despite recognizing advantages in private lending, he warned against the risks posed by bad actors and lack of oversight, especially as retail investors become involved in the market.
Source: YAHOO