Subprime Loans, Corporate-Style, Will Fuel Defaults

"It's highly likely in the next 12-24 months that we will begin to see corporate loans default on a level comparable to subprime home mortgages. As this New York Times article examines, many of these junk bonds and loans were issued to companies that have little, if any, hope of paying them back or refinancing in the current environment. If the economy doesn't improve NOW (and it won't), the default rate will surge to levels not seen since the Great Depression (hmm...that's a familiar sounding phrase, isn't it)"