Avert your eyes! My Sunday morning  look at incompetency, corruption and policy failures: • Tourists Are Staying Away from the U.S. in Droves : With the World Cup approaching and the country’s 250th anniversary also on tap this summer, 2026 was supposed to be a banner year for tourism in the U.S. But that’s not how things are shaping up. ( Der Spiegel ) • The Continuum of Truthiness?  Jefferies’ reported prices on secondary sales of private equity stakes have historically been a price lower than the General Partners’ own marks. Secondary PE pricing doesn’t jibe with accounting rules ( The Alt View ) see also Investor Advocates Ask FASB to Reconsider Guidance on Secondaries : Secondary funds’ returns are “artificially inflated” by the practice, say investor advocates asking FASB to reconsider its guidance.  ( Institutional Investor ) see also The Vanishing: How BDCs Disappear Bad Loans : In a recent interview defending private credit, Blackstone’s head of Private Wealth suggested…