Naked Capitalism has the article IMF, Warren Sound Alarm on Leveraged Lending.
All the warning signs are there. Last time around, it was clear that the problem was in the mortgage market, so it was a lot easier to know which investments to avoid. Now the danger is spread out into unnamed companies (except for naming GE). I use various figures of merit to weed out companies on the brink. I hope that caution will give me some protection in the coming crash. Also, I am letting my dividends accumulate. I am in no hurry to reinvest them in the stock market. What are you doing to protect yourself?