US Company Collapses: 'Alarm Bells' Ringing, Says Bank of England Governor

The collapse of two US companies, car parts supplier First Brands and subprime car lender Tricolor, has raised concerns about wider financial system issues. The Bank of England's governor, Andrew Bailey, warns that these bankruptcies could be a 'canary in the coal mine' and draws parallels to the 2008 financial crisis. The Bank is planning stress tests of private equity and credit firms, examining the private finance sector for vulnerabilities. The tone of the conversation before the 2008 crisis was similar, with sub-prime mortgages considered 'too small to be systematic.' The question remains whether these recent collapses are isolated incidents or a sign of more fundamental problems in the private finance and private assets sector.

Видео US Company Collapses: 'Alarm Bells' Ringing, Says Bank of England Governor канала Collective Mind