Sam Bankman-Fried is on trial for wire and securities fraud, but the real issue at FTX was concealing insolvency through dubious financial practices, raising questions about the credibility of the exchange's financial claims. This case highlights the need to address credit fraud in financial institutions more effectively.

Financial troubles in Chinese property developers Country Garden Holdings and China Evergrande Group have raised questions about a potential "Lehman Moment" in China. However, these issues are seen more as structural challenges in China's financial system than signs of an impending crisis.

Recent bank rating actions by Moody’s, Fitch, and S&P have seen several downgrades and negative outlooks in the banking industry, attributed to the challenges arising from the Federal Reserve's aggressive rate hikes, shrinking margins, and other economic factors. However, criticisms have arisen as the American Bankers Association and Credit Spectrum Corp. report that many downgraded banks are actually stronger now, and there are suggestions that the actions of the rating agencies, who play complex roles in the financial markets and compete for market share, might be influenced by factors other than neutral, objective credit information, potentially serving certain regulatory interests and market dynamics.

Fitch Ratings put the U.S. long-term IDR on Negative Watch but did not downgrade the U.S. in other crucial categories like country ceiling or short-term rating, which would have severe economic consequences. Despite protests from officials like Janet Yellen, the article suggests that credit rating agencies like Fitch and Moody's wield significant influence and that the lack of downgrades in other categories indicates the situation is not as dire as it could be.

Texas-based fintech startup GloriFi, founded as a banking alternative for conservatives and backed by notable investors, collapsed just months before its scheduled public debut due to a combination of financial challenges, startup mistakes, reputational attacks, and exposure of operational malfeasances. Despite raising $50 million, which is typically a substantial amount for startups, GloriFi's failure is attributed to its lack of credit culture and inconsistency in messaging and branding, raising questions about the handling of the funds and the possibility of a resurgence through a chain of similarly named operational companies.