Pockets of credit: 19th Century Banking Makes a Comeback
Love The Economist and they tend to be on the money in their analysis. Agree that we need more lenders providing capital to the real economy. But, big miss here is that funds like Golub and Medley lend to middle-market buyouts. They finance the trading of companies between owners, not the creation of real value and that is what fundamentally needs to change for banking to better serve society.
