Some of the mega-buyouts that private equity shops labored to assemble during the go-go years of the credit boom are coming apart at the seams. These $10 billion-plus deals were usually predicated on expectations that asset prices would rise and debt markets would remain welcoming.

With those hopes dashed, several monster buyouts are starting to fly red flags. Among the biggest, Tribune, Freescale Semiconductor, Harrah’s Entertainment, Univision and Clear Channel Communications looked shaky heading into the fourth quarter, their most challenging one yet as private companies. They’re likely to be much worse off by its end, and, because of their size, that is another bit of bad news for the nation’s economy.