alt Hacker NewsI have this huge looming sensation private credit will trigger a mini 2008, but instead of investors sucking up the losses, as they should, american taxpayers will be left with the bill.
Replies
BigTTYGothGF • today at 5:12 PM
> american taxpayers will be left with the bill
So just like 2008.
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anjel • today at 5:17 PM
Large Pension Funds have significant exposure to private credit... https://www.calpers.ca.gov/documents/202603-invest-agenda-it...
allthetime • today at 4:18 PM
Not if American tax payers stand up, fight back, and demand better. I won't hold my breath though.
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guzfip • today at 5:47 PM
> american taxpayers will be left with the bill.
If the country isn’t on fire afterwards, I’m giving up on it.
krsw • today at 5:15 PM
Socialize the losses, privatize the profits has never been more true
A part of me was hoping that with LLMs getting better and better at mimicking corporate nothing-speak that we'd realize that we can automate away a lot of the executives, Vice Presidents, and CEOs. Of course that was a naive hope on my end; if history has taught us anything, executives at big companies appear to only be skilled at one thing: shielding themselves from the consequences of their awful decisions.
Instead of automating away a job that is mostly about blathering on with half-truths about the future of the company (something that AI could actually do perfectly fine), they instead think they can fire half the engineers and replace them with a Claude Code.