For one thing, it is hard to know how much companies have in fact lengthened the maturity of their debts because the interest-rate swap market allows them to swap those fixed bond payments into cheaper floating debt, a popular strategy in the investment-grade market.

ECONOMIST: Better to feast on cookies than junk bonds

For individuals the good news is that there are mutual funds that make it easy to invest in diversified portfolios of floating-rate loans, mostly made by banks to corporations with less than investment-grade bond ratings.

FORBES: Fixed Income for Bears

These days, he has a new floating toy--the 533-foot yacht Eclipse, which boasts bulletproof windows, a military-grade missile defense system and an escape submarine.

FORBES

In photographs of his grade-school classes, he always looked out of place, his grinning, elephant-eared face floating like a parade balloon above the other kids in line.

NEWYORKER: The Strongest Man in the World