Dimon "Cockroach" says it triggered a backlash in the private credit industry, stating that the key issue is the lack of rigor in banks' due diligence

The two explosions in the U.S. credit market have sparked a war of words, with the focus of the debate being which is in a more advantageous position when faced with a broader collapse: banks or private credit companies. JPMorgan Chase CEO Jamie Dimon claimed that cockroaches never come alone, referring to the losses suffered by auto loan company Tricolor Holdings, which led some non-bank competitors to believe they were being mocked by Dimon. Blue Owl Capital Inc. boss Marc Lipschultz retorted that the problem lies with bank-led lending, suggesting that if Dimon wants to exterminate more pests, he should engage in some self-reflection