(HedgeCo.Net) The private credit debate has reached a new level of intensity on Wall Street, with former SEC chair and current Manhattan U.S. attorney Jay Clayton arguing that the market should not be treated as a systemic “cancer” on the financial system. His comments push back against a growing chorus of warnings from bank executives, regulators and market observers who say the rapid expansion of private credit deserves closer scrutiny as leverage, valuation opacity, bank linkages and borrower...
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