Zombie banks are running amok. With net values of less than zero, these institutions continue to operate thanks to the help of national governments that prop them up, print more money, and allow them to avoid financial punishment. Presenting an in-depth look at the issues surrounding this financial phenomenon, Zombie Banks tackles the terror head on, demonstrating how this practice has failed in the past, and why it's destined to do so again.
This revealing new book examines what zombie banking is, why it is practiced, and why it doesn't work. Looking at examples from around the world, it proves that the vast sums invested in keeping these banks afloat has failed to save the United States, the EU, or Japan from their current economic rut, leaving them in just as poor financial shape as before the market crash, only now with reduced resources for the future. Zombie banks are dangerous and positioned to prevent economic recovery. Only by closing the books on these freaks of finance can any country hope to start rebuilding. Author and Bloomberg News reporter Yalman Onaran presents an honest look at how we arrived in this position, bringing together commentary from bank executives, regulators, politicians, and policymakers from around the world, including Joseph Stiglitz and Sheila Bair.
Refusing to shy away from the harsh realities that need to be faced, this book outlines the essential steps that must be taken to get rid of these institutions once and for all. Transforming this highly complex financial issue into something that general business readers and financial professionals alike can understand, Zombie Banks is a must-read for anyone interested in grappling with one of the true monsters of the financial world.
Like most people uninvolved with finance, I was completely unaware of the term "zombie bank", much less what the term referred to. Read morePublished 10 months ago by Bufford D. Moore
This is a pretty informative book. It gives a good synopsis of the banking crisis and the players involved and the problem.Published 14 months ago by Ravi Jarial
This is a must read for anybody interested in the financial sector. The book does a great job explaining the recent financial crisis, as well as previous crisis in the financial... Read morePublished on July 12, 2012 by Kurt Kautman
Well researched, well reasoned, and well written. This is as close to a crystal ball as you can find for divining how the European debt crisis and our domestic fiscal... Read morePublished on March 3, 2012 by Doggoneit
Zombie Banks is exactly what anyone interested in the global financial crisis should want: a comprehensive analysis of what is actually going on in the global recovery, and why... Read morePublished on February 7, 2012 by Christopher
The Zombie Banks is a great reference book about the recent financial crisis and banking crises in general. Read morePublished on January 19, 2012 by Burak Tekes
This book reads like a novel. Unfortunately it is not fiction. Yalman Onaran provides a compelling narrative on how countries and regulators are handling the fall out from the... Read morePublished on January 9, 2012 by Dr P