Elena Nikulina

Private credit evolution spans three major systems, Patrick OShaughnessy notes

Private credit evolution spans three major systems, Patrick OShaughnessy notes
Private credit in U.S. finance history

Patrick OShaughnessy highlights a discussion on the evolution of private credit and markets in the U.S.

According to the tweet, his guest traces the trajectory of American finance through three main systems, beginning with Glass-Steagall in 1933, moving through the deregulation period that led to the global financial crisis, and arriving at today’s so-called factory model.

OShaughnessy has previously reported that industry leaders in private credit often debate symptoms instead of focusing on underlying causes, according to a recent column. He has also highlighted founder risk-taking, noting one case where William pledged over $1 billion in personal stock to fund Column, as detailed in a separate report. These examples provide context for the evolving approaches discussed in the latest conversation.

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