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Posts by cathygee

I would submit that a gerrymander by politicians saying fuck the voters and one by voters saying fuck the politicians are two wholly different animals

4 hours ago 5898 1436 34 36

Thirteen U.S. troops died trying to get these people to safety — Afghan interpreters, soldiers, and the families of our service members. Veterans spent sleepless nights during the chaotic withdrawal fighting to keep them alive. Now our own government is going to abandon them.

7 hours ago 1636 782 46 31
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Israeli strike hits Gaza church, killing 3 and wounding priest who was close to Pope Francis An Israeli shell slammed into the compound of the only Catholic church in the Gaza Strip, killing three people and wounding 10 others, including the parish priest, according to church officials.

Just hours after war criminal Benjamin Netanyahu sanctimoniously scolded us about how Israel and the IDF respect other faiths.

apnews.com/article/gaza...

1 day ago 1096 463 64 23

Dude looks like he's about to call for the destruction of the Jedi

1 day ago 739 73 27 2

This Is Just To Say

I have turned off
the AI features
that were in
the update

and which
you were probably
hoping
to monetize

Fuck you
they were stupid
so unnecessary
and so annoying

1 day ago 8111 2939 60 56

The GOP is gonna be like “we can’t afford to take them down” and we must reply quickly and unconditionally “no worries, man, there is no charge, there are people standing in line 24/7 to do it voluntarily.”

2 days ago 0 0 0 0
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3 days ago 8813 2251 143 82

💖💫💖

3 days ago 1 0 0 0

👑

3 days ago 1 0 0 0
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Federal judge unloads on ‘unserious’ RFK Jr., says anti-trans policy showed his ‘cruelty’ Judge Mustafa T. Kasubhai vacated the “Kennedy Declaration,” finding it unlawfully attempted to override medical standards and restrict care for transgender youth.

Breaking: HHS’s ban on gender-affirming care is struck down. Rarely have I read a ruling this sharply worded.

“This case is one of a long list of examples of how a leader’s wanton disregard for the rule of law causes very real harm to very real people.”

www.advocate.com/politics/nat...

3 days ago 11325 3952 6 231

We are so far beyond even Teapot Dome levels of "government captured by private industry" in this country, and Democrats genuinely seem to believe their unpopularity is driven by being too nice to trans people, instead of being driven by their screamingly obvious hypocrisy about this.

4 days ago 1178 366 4 0

True! Fun fact: They did this because someone leaked Robert Bork’s rental history during his confirmation battle.

4 days ago 3504 802 35 17

a lot of men never recovered from women being able to have jobs and demand fair treatment and have been waiting for any opportunity to punish them for it

4 days ago 1393 279 20 4
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Families left reeling after hospitals in blue states drop transgender care for youth Massachusetts passed laws and joined lawsuits to protect access to gender-affirming care for minors. But faced with the Trump administration's threats, some hospitals voluntarily stopped care.

I fled Utah after living there for 15 years due to the constant attacks on trans people, even the University of Utah hospital capitulating in advance of expected bans.

Moving took every cent I had and I worry it still won't be enough, not when hospitals keep treating us as expendable.

4 days ago 430 115 8 3

I saw someone on here arguing the other day that you don’t own a book, you only own a license to the book and the book itself is a token of the license. I assure you, I own my books. I can lend them out. I can read them aloud to my child. I can sell them to other people. I can hit you with them

4 days ago 3044 364 30 0

So Her best friend can fly it fullspeed through her enemies. I'll see myself out.

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Latest death toll released by the Lebanese ministry of health includes the grim milestone that 100 medics/first responders have now been killed in Lebanon by Israeli attacks since March 2. I wrote about attacks on healthcare a few weeks ago, when it was 42 www.irishtimes.com/world/middle...

4 days ago 45 38 0 4

Stop 👏 caping 👏 for 👏 cheap 👏 billionaire 👏 baseball 👏 owners 👏 who 👏 gaslight 👏 you 👏 into 👏 believing 👏 your 👏 favorite 👏 team 👏 is 👏 poor.

THE SAN DIEGO PADRES ARE ABOUT TO SELL FOR $3.9 BILLION. THEY WERE LAST SOLD FOR $800 MILLION IN 2012.

4 days ago 520 89 1 1
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Private credit has sold itself as a reliable source of high-yield investments made to “trusted borrowers,” even as those “trusted borrowers” — like private equity firms — take private credit’s money and use it in leveraged buyouts that have, as I wrote a few weeks ago, stopped functioning as a reliable business model, as evidenced by the trillions of dollars of unsold (and functionally unsellable) companies sitting in PE funds.

The companies in question immediately find themselves encumbered with expensive and onerous debt, and their new masters almost immediately gut them, making their products worse, firing a bunch of people and then expecting the company to keep growing. In reality, per a study from 2019, 20% of companies acquired through leveraged buyouts go bankrupt within 10 years, which makes it much harder for them to keep paying those expensive loans. 

At times, these companies are given “recurring revenue loans” that require them to hit certain revenue targets or otherwise be in breach of their loan. For example, in 2020, Pluralsight was acquired by Vista Equity Partners despite it never making a profit, taking on a $1.175 billion recurring revenue loan and a $100 million revolving credit facility. Four years later, Vista Equity Partners handed over control to its lenders including Blue Owl Capital, Ares, and BlackRock, who agreed to take equity positions in the company, in large part (per Axios) because of its inability to service its debt, leading to Vista Equity Partners writing off the entire investment.

Private credit has sold itself as a reliable source of high-yield investments made to “trusted borrowers,” even as those “trusted borrowers” — like private equity firms — take private credit’s money and use it in leveraged buyouts that have, as I wrote a few weeks ago, stopped functioning as a reliable business model, as evidenced by the trillions of dollars of unsold (and functionally unsellable) companies sitting in PE funds. The companies in question immediately find themselves encumbered with expensive and onerous debt, and their new masters almost immediately gut them, making their products worse, firing a bunch of people and then expecting the company to keep growing. In reality, per a study from 2019, 20% of companies acquired through leveraged buyouts go bankrupt within 10 years, which makes it much harder for them to keep paying those expensive loans. At times, these companies are given “recurring revenue loans” that require them to hit certain revenue targets or otherwise be in breach of their loan. For example, in 2020, Pluralsight was acquired by Vista Equity Partners despite it never making a profit, taking on a $1.175 billion recurring revenue loan and a $100 million revolving credit facility. Four years later, Vista Equity Partners handed over control to its lenders including Blue Owl Capital, Ares, and BlackRock, who agreed to take equity positions in the company, in large part (per Axios) because of its inability to service its debt, leading to Vista Equity Partners writing off the entire investment.


Hundreds of billions of dollars of private credit debt have been and will be funneled into leveraged buyouts that are, in most cases, set up to fail, and by “fail,” I mean “the borrower will not actually pay their loans.” 

Despite risk being the very reason that the yields are so good, insurance and pension funds — as well as retail and institutional investors — are sinking their money into private credit firms with the expectation of reliable, stable returns, and while that’s worked for a while, I fear it won’t work long term.

Hundreds of billions of dollars of private credit debt have been and will be funneled into leveraged buyouts that are, in most cases, set up to fail, and by “fail,” I mean “the borrower will not actually pay their loans.” Despite risk being the very reason that the yields are so good, insurance and pension funds — as well as retail and institutional investors — are sinking their money into private credit firms with the expectation of reliable, stable returns, and while that’s worked for a while, I fear it won’t work long term.

Private Equity and Private Credit are closely linked, with private credit representing 70% of all PE funding in the last decade. This is very bad, as 30-40% of leveraged buyouts went to software companies in 2018-2022, at a time of mass-overvaluations.
www.wheresyoured.at/hatersguide-privatecredit/

4 days ago 21 2 1 0
Private credit now accounts for 14% of all loans, nearly $1 trillion (around 16%) of all assets held by life insurance companies, and at least $100 billion — and potentially hundreds of billions — of assets held by retirement funds, with 17% of Arizona’s public safety personnel retirement system, 20% of two unnamed Kentucky pension systems, and 10% of the State Teachers Retirement System of Ohio invested, per Reuters in a story about how pension funds were “sticking by” private credit that i’ll talk about later. 

The IMF thinks things are a little grimmer, estimating that private credit now accounts for about 35% of the investment portfolios of North American insurance companies, with the biggest portion tied to commercial real estate (a collapsing industry) followed by private placements (read: loans).

To give you an example of specific exposure, the California State Teacher’s Retirement System is the biggest investor in Blue Owl’s publicly-traded Blue Owl Capital Corporation fund. It  doesn’t really have a choice, with a dwindling number of other options for reliable yields and, I imagine, some degree of fear that any attempt to disconnect from private credit could cause an industry-wide panic.

Private credit now accounts for 14% of all loans, nearly $1 trillion (around 16%) of all assets held by life insurance companies, and at least $100 billion — and potentially hundreds of billions — of assets held by retirement funds, with 17% of Arizona’s public safety personnel retirement system, 20% of two unnamed Kentucky pension systems, and 10% of the State Teachers Retirement System of Ohio invested, per Reuters in a story about how pension funds were “sticking by” private credit that i’ll talk about later. The IMF thinks things are a little grimmer, estimating that private credit now accounts for about 35% of the investment portfolios of North American insurance companies, with the biggest portion tied to commercial real estate (a collapsing industry) followed by private placements (read: loans). To give you an example of specific exposure, the California State Teacher’s Retirement System is the biggest investor in Blue Owl’s publicly-traded Blue Owl Capital Corporation fund. It doesn’t really have a choice, with a dwindling number of other options for reliable yields and, I imagine, some degree of fear that any attempt to disconnect from private credit could cause an industry-wide panic.


The finance industry is currently in full court press trying to convince you that the private credit bubble won’t spark the next great financial crisis in an attempt to distract from the fact that major banks have at least $100 billion in exposure to private credit firms, with Wells Fargo siting at around $36 billion, Citigroup at $22 billion, and Bank of America at $20 billion. Some estimates say it might be as high as $180 billion.  

Moody’s estimates that banks’ true exposure to private credit vehicles reached $1.4 trillion as of end-2025.

The finance industry is currently in full court press trying to convince you that the private credit bubble won’t spark the next great financial crisis in an attempt to distract from the fact that major banks have at least $100 billion in exposure to private credit firms, with Wells Fargo siting at around $36 billion, Citigroup at $22 billion, and Bank of America at $20 billion. Some estimates say it might be as high as $180 billion. Moody’s estimates that banks’ true exposure to private credit vehicles reached $1.4 trillion as of end-2025.

Private credit now accounts for 14% of all loans - and the money for those loans is increasingly coming from you, via both private and public retirement accounts and insurance premiums.

And, of course, hundreds of billions from the banks.

www.wheresyoured.at/hatersguide-privatecredit/

4 days ago 22 2 1 0
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Premium: The Hater's Guide to Private Credit A few years ago, I made the mistake of filling out a form to look into a business loan, one that I never ended up getting. Since then I receive no less than three texts a day offering me lines of cred...

Premium newsletter: The 16k word Hater's Guide To Private Credit - a comprehensive guide to the massive, opaque and barely-regulated loan industry gambling with $1.5tr+ of retirement and insurance funds - and how software and AI may break its back.
www.wheresyoured.at/hatersguide-privatecredit/

4 days ago 504 104 15 10

the president of the united states is personally looting the treasury to the tune of literally billions of dollars and that he is not being immediately removed from office and tried for high crimes against this country is a devastating indictment of every part of our political system

4 days ago 6196 2193 26 55

When Bush didn’t know what a supermarket scanner was it was out of touch but not nasty or anything. This guy is just a perpetually resentful douche.

5 days ago 1468 168 45 4

All About Eve, but it’s a writer and an LLM trained on the writer’s work.

6 days ago 131 22 10 3
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The Texas Rangers have unveiled a controversial new statue modeled after Jay Banks, a former Texas law enforcement officer known for enforcing school segregation.

The unveiling preceded the MLB’s celebration of Jackie Robinson Day, which commemorates the first African American MLB player.

6 days ago 676 230 106 198

Who Died And Made The Pope The Boss Of The Catholic Church, Anyway?

6 days ago 999 108 24 6
Fluffy little bird butt in a bird feeder

Fluffy little bird butt in a bird feeder

Guess what?
.
.
.
Titmouse butt

6 days ago 218 30 5 0

And with you. Keep going! 💫

1 week ago 1 0 0 0
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