2 months ago
When a loan inside the bond goes bad, the seller buys it back at a hundred cents.
$5.7 billion of debt against a chain that has closed 8,345 restaurants.
Small business bankruptcy filings rose 50%. Big-bank credit data says everything is fine.
The banks say 1.34%. The government's own small-business book says 4.8%. Both are right.
Prime borrowers are defaulting on their panels five times faster than on their cars.
It isn't the government and it isn't a bank anymore — plus Taiwan, student loans, value vs growth.
The law used to require enough money for a one-in-a-hundred-year hurricane. In June it became one in fifty. Rates were frozen in exchange. The hurricanes weren't consulted.
That's the American farm sector this year — alongside record debt, a record interest bill, and a lender whose bad loans have tripled.
So the richest school on earth borrowed $2.5 billion instead. Its private equity portfolio fell 31.6% over the following year.
