The woes of the credit industry that are dragging down the economy cannot all be blamed on the housing sector. According to this article, banks are finding it impossible to unload some $220 billion of corporate buyout debt. No one will buy those bonds, so banks are having to keep all of that debt on their books, making it harder for them to make other loans.
Another credit problem
About Gene Veith
Professor of Literature at Patrick Henry College, the Director of the Cranach Institute at Concordia Theological Seminary, a columnist for World Magazine and TableTalk, and the author of 18 books on different facets of Christianity & Culture.