Why is it absurd? If all the creditors of any company decided they wouldn't roll their credit, and no new creditors would come along to replace them (ie, in eff

Why is it absurd? If all the creditors of any company decided they wouldn't roll their credit, and no new creditors would come along to replace them (ie, in effect a bank run), any company would default. It's not some unique thing to banking. It just tends to rear it's head more often in banking because banks are more levered than most other companies, and the nature of the agreement with creditors (you can call in your loan any time) means it can happen fast.