In this issue, we delve into the perilous underworld of shadow banking and private credit—the financial dark matter that now threatens global stability. Since the 2008 meltdown, traditional banks have given way to a network of barely-regulated financial giants, from private equity firms to hedge funds, whose rapid expansion and complex structures pose unprecedented risks. While central banks and regulators turn a blind eye, these shadow institutions operate in the dark, wielding immense power and leverage that could ignite the next crisis. Prepare to uncover the unsettling truth about our financial system’s fragile foundation and the silent storm gathering on the horizon.
