October 1st is an extremely important day in this crisis because many businesses rely on 30, 60, or 90 day lines of credit that are due Wednesday. Additionally, a pile of loans are going to become due Wednesday. The fear is that in the current crisis, loans and credit that would as a matter of routine be available will evaporate and things will start imploding (forgive the dramatic language).
I've had it explained to me this way, and I'm looking for sources but coming up short. Anybody out there more knowledgeable than I am care to back me up or shoot me down?
The phrase I keep hearing is 'credit freeze', and it looks like it might come to fruition tomorrow. I'm not trying to play chicken little, but I'm looking hard for somebody to tell me WHY I either should or shouldn't be worried about tomorrow...