Table: The Money Pit
Banks and investors have lent $1.3 trillion to telecom companies since 1996. Some of the biggest borrowers are now in serious trouble.
AMOUNT (BILLIONS) COMPANY BANK LOANS BONDS LENDERS
GLOBAL $5.9 J.P. Morgan Chase, Goldman Sachs, CROSSING $2.3 Citigroup Fidelity, Met Life, Franklin Advisers
McLEOD 3.9 J.P. Morgan, Citigroup, Goldman Sachs USA 1.4 Franklin, MetLife, SunAmerica
360NETWORKS 1.2 J.P. Morgan Chase, CSFB, Toronto 0.2 Dominion Putnam, McKay Shields, J&W Seligman
WINSTAR 0.8 Bank of N.Y., ABN Amro, Scotiabank COMMUNICATIONS 0.7 Morgan Stanley, Putnam, Cigna
Data: Thomson Financial, Capital Access