debt laden companies are in trouble

This is why so many debt laden companies are in trouble.

Not only is it going to be very difficult to keep rolling over their debt,the cost of debt is going to be very punitive.

For some companies servicing that debt will be very difficult.

Many business models are struggling already.

They will break down completely if things deteriorate further(which they will).

Mish today...

http://globaleconomicanalysis.blogspot.com/2008/08/banks-scramble-to-refinance-long-term.html