Yeah, like what happened in the 2008 financial crisis where governments had to step in to save the banks as people defaulted on housing payments due to high mortgages.

Oracle is already close to being classified as junk and reaching a tipping point. If/when that happens it is unclear what affect that will have on the markets on companies invested in AI datacenters with Oracle, and other companies that Larry Ellison and other Oracle investors own shares in.

Yes — I think the thrust of it is that Oracle is unusual because all of their risk is on their books, right? They aren't using SPVs. So it's much clearer.

So the worry is that it makes it clear that the unexamined risk in the SPVs has a lot less light shed on it.

(ETA: that article suggests Oracle is using SPVs)