News reached us last week of an unfortunate Shillington, PA man wounded when his shotgun went off. Police believe his dog jumped on the bed where the man was cleaning the weapon, somehow triggering it. A neighborhood cat was also questioned but later released. 

We bring this to readers’ attention because of the recent media focus on loan misfires. Until now the relative absence of credit defaults and losses has kept speculation about “bubbles” and “train-wrecks” to a minimum. First Brands and TriColor changed that. 

The narrative private credit must somehow be responsible for those two bank-led, non-sponsored financings has been discredited. However, some continue to suggest that, while these instances don’t involve private credit, bad things could be happening out of sight. If there’s mess on the floor, blame the dog!