  It is known that the naive version of D-brane theory is inadequate to explain
the black hole entropy in the limit in which the Schwarzschild radius becomes
larger than all compactification radii. We present evidence that a more
consistent description can be given in terms of strings with rescaled tensions.
We show that the rescaling can be interpreted as a redshift of the tension of a
fundamental string in the gravitational field of the black hole. An interesting
connection is found between the string level number and the Rindler energy.
Using this connection, we reproduce the entropies of Schwarzschild black holes
in arbitrary dimensions in terms of the entropy of a single string at the
Hagedorn temperature.
