Presenting What Next TBD: Why Everyone is Freaking out About Private Credit
4/14/202637 min
It's fueling the A.I. bubble, it's coming to your retirement portfolio—and it's flashing a lot of warning signs right now.
In the wake of the 2008 financial crisis, private credit or “shadow banking” grew as an alternative to the regulations and shared risk that institutional banks operate within. What happens if a crisis hits the trillions of dollars that are outside of those guardrails? We may be about to find out.
Guest: Tracy Alloway, co-host of Bloomberg's Odd Lots podcast.
https://slate.com/podcasts/what-next-tbd
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Transcript preview
First 90 secondsSpeaker 00:00
Hey, Fidelity. [piano notes] What's it cost to invest with the Fidelity app?
Tracy Alloway· Host0:03
[piano notes] Start with as little as $1 with no account fees or trade commissions on US stocks and ETFs.
Speaker 00:11
Hmm. That's music to my ears.
Tracy Alloway· Host0:14
I can only talk.
Speaker 20:15
[upbeat music] Investing involves risk, including risk of loss. Zero account fees apply to retail brokerage accounts only. Sell order assessment fee not included. A limited number of ETFs are subject to a transaction-based service fee of $100. See full list at fidelity.com/commissions. Fidelity Brokerage Services LLC, member NYSE, SIPC.
Speaker 30:28
[upbeat music] The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand, but by embedding AI across HR, IT, and procurement processes, we've reduced costs by millions, slashed repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business, IBM.
Speaker 40:59
When you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, that isn't always easy. Risk can touch multiple parts of an organization at the same time, often in ways that aren't immediately obvious. It might involve property, liability, or cyber. It could stem from regulatory requirements or challenges tied to a specific industry or the scale of an operation. At that level, managing risk becomes an ongoing discipline, not a one-time decision. At The Hartford, the focus