Debtor's Prison: Corporate America Wrestles With Obligations

Used to be that Peter and Paul were both willing lenders to America's corporations -- and they didn't care so much about calling in their markers.

But the economy isn't what it was a year ago, or especially what it was two years ago. Whereas U.S. companies previously had an easy time borrowing a truckload of money to expand their business (or lay cable that nobody's using at this point), things have changed. Profits are falling and costs are rising, and somebody wants their money back.

What's the easiest way to handle this situation? Take care of the guy who's at your front door with an aluminum bat, and forget about the person who's content at this time to call you on the phone. ...