‘Shadow banking’ could lead us into an apocalypse like 2008

Alarm bells are ringing about the private credit market and ‘cockroaches’ in the system — the time to act is now - Chris Blackhurst
It was inevitable really. 

• After all, the banking crash of 2008 was 17 years ago and many of the main actors have left the stage. 
• The new generation cannot be expected to pay heed to the lessons from back then. 

The world has moved on, live with it...
This time the guv’nor is referring to “shadow banking” — the private credit market where firms of money managers, not regulated banks, lend money to businesses. 

The collapse of two US companies, First Brands and Tricolor, that borrowed billions via this route...
Andrew Bailey said the Bank took ‘very seriously’ the risk that the failures could prove to be a ‘canary in the coal mine’...