Brian Judge

Brian Judge

Brian Judge is Research Director of the Program on Finance and Democracy at the University of California, Berkeley.

Is the Private Credit Boom Going Bust?

Since 2008, private credit has expanded into a $3.5 trillion industry, driven by private equity and operating outside the reach of traditional banking rules. As cracks begin to appear, the risks embedded in a system built on opaque valuations and rising leverage are becoming harder to ignore.

Brian Judge

March 20, 2026 at 1:27 PM IST

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