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But also just complacency is an issue. Why would you be a receivable factor buyer but let an affiliate of the Company selling the receivable be your services? No good practice
Understood -- I am far from an expert in BDC's or corporate debt but based on the long history of manias (Tulips, telecom, mortgages, etc..) would not be surprised at all if the gusher of capital into private credit over the last decade turns out badly.
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I lean in with Jaime Dimon