HEMIMANN
Senior Member
- Joined
- Dec 7, 2020
- Posts
- 9,610
- Reaction score
- 25,245
- Location
- Minneapolis, MN
- Ram Year
- 2017 2500 Laramie Crew Cab
- Engine
- 6.4L HEMI
From agglomerated news outlets:
"First Brands' scheme continued for years afterward and was only discovered during bankruptcy proceedings. The real lesson is structural: when a company's entire business model depends on continuous new financing, and when management organizes its finance function to prevent information from reaching lenders, no disclosure rule catches it. The question facing every private credit fund in America right now is whether they have another First Brands in their portfolio."
"First Brands' scheme continued for years afterward and was only discovered during bankruptcy proceedings. The real lesson is structural: when a company's entire business model depends on continuous new financing, and when management organizes its finance function to prevent information from reaching lenders, no disclosure rule catches it. The question facing every private credit fund in America right now is whether they have another First Brands in their portfolio."