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hedora
11 days ago
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US private credit defaults hit record 9.2% in 2025...
We had them in the US before the SEC, which regulated them out of existence.
It’s likely the term is a pejorative referring to the Liverpool setup you describe.
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rlucas
11 days ago
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Sorry, I meant Jesse Livermore's "Confessions of a Stock Market Operator," worth a read to anyone interested in the history of this stuff.
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It’s likely the term is a pejorative referring to the Liverpool setup you describe.