George Noble, a longtime Fidelity fund manager and Wall Street veteran, sees big problems brewing in the booming private credit market. The former director of Fidelity Overseas Fund recently wrote that he sees the makings of a financial crisis in the sector, echoing others who have worried about a spate of negative headlines in recent months. Private credit fears have been swirling on Wall Street since late last year when some high-profile borrowers went bankrupt. Noble said he has been monitoring it for months, and he thinks problems are getting harder to ignore. "We're watching a financial crisis unfold in real time," he said in a post on X. "The last time funds started blocking investors from getting their money back, Bear Stearns collapsed six months later."