First Brands Group files for bankruptcy! Private Credit Market in trouble?

First Brands Group filed for bankruptcy with $2.3 billion missing and a criminal investigation being started. First Brands Group is the second major failure in the auto industry within the last month following the bankruptcy of Tricolor Holdings. Both companies are tied to the Private Credit Market. First Brands Group appears to have committed major fraud and, like Tricolor Holdings, is pulling in a list of major banks including Blackrock, Carlyle, UBS, Cantor Fitzgerald, Jefferies, etc. Are these the first dominos in the collapse of the Private Credit Market? This episode examines a series of articles from The Epoch Times, The Wall Street Journal, The Financial Times, Baron’s, and CNBC.