The expansion of shadow banking has unquestionably brought a pileup of debt. Corporations owe almost twice as much today in bond obligations as they did a decade ago.

The expansion of shadow banking has unquestionably brought a pileup of debt. Corporations owe almost twice as much today in bond obligations as they did a decade ago. https://t.co/XuXkiqGV2P

— City Journal (@CityJournal) December 24, 2018