The New York Times - Like consumers and homeowners, America’s corporations binged on easy credit when times were flush, racking up huge debts. Now the bills are due, and paying them back will not be easy, or cheap.
This year alone, more than $700 billion in corporate loans will come due, according to Standard & Poor’s. That is the size of the federal bailout of the financial sector. Many companies were counting on being able to borrow more money to meet those obligations and kick their debt farther down the road.
But with the credit markets still tight, corporations are being forced to pay much higher interest rates than they did a few years ago, putting more strain on balance sheets already hammered by falling profits and a grinding recession.http://www.nytimes.com/2009/01/19/business/economy/19debt.html?partner=permalink&exprod=permalink
Showing posts with label Borrowing. Show all posts
Showing posts with label Borrowing. Show all posts
Monday, January 19, 2009
Monday, January 5, 2009
Debt Trap: College Borrowing Sinks Students
The New York Times - As a college student, Stefan Heise relied on student loans and credit cards to pay for his education. Now out of school, he is more than $80,000 in debt and facing bankruptcy.http://video.nytimes.com/video/2008/12/31/business/1194837095176/debt-trap-college-borrowing-catches-up-.html?partner=permalink&exprod=permalink
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