Corps. Gobbling Up Cheap Debt Instead Of Hiring

You can’t get a loan but Microsoft sure can, and it’s taking advantage of uber-low interest rates to raise billions by selling bonds. Why? “Because they can,” writes NYT. They’re not alone, across the board companies are plumping up their cash reserves so they can take advantage when the economy turns around, but it’s unlikely to anytime soon if companies keep saving instead of creating jobs. What came first, the chicken or the nest egg?

Cheap Debt for Corporations Fails to Spur Economy [NYT via Slate]