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An in-depth look at the problems surrounding zombie banks andtheir dangerous effect on the global economy

“The title is worthy of a B movie, but it's also apt.Bloomberg News reporter Yalman Onaran, supported by former U.S.Federal Deposit Insurance Corp. chief Sheila Bair - who provides aforeword and numerous interviews - urge that insolvent banks bothsmall and too big to fail be allowed to do precisely that. Reading bank balance sheets is not everyone's idea of a goodtime. But Mr. Onaran, with support from Ms. Bair, does the choreand explains what it means.  Mr. Onaran shows that the processof rescuing dead and dying banks is increasing systemic risk in theglobal banking system. And that is really more frightening thanscream flicks from Tinseltown.”  -- FinancialPost

“Yalman Onaran knows of putrid financial institutions,having written about them in his native Turkey so successfully hebrought down a few in Istanbul in the late '90's.” --Huffington Post

“Do We Love Zombie Banks? The new book by Yalman Onaran ofBloomberg News, Zombie Banks: How Broken Banks and DebtorNations Are Crippling the Global Economy, is a well-organizedand clearly written discussion of the use of leverage to providegrowth in many different economies. Onaran has carefully researchedthe zombie phenomenon and makes some important points in thisconcise volume about both public policy and the concerns ofinvestors. One of the more interesting early threads in the book isthe juxtaposition of the experience of the US in the S&L crisisand Japan in the 1980s and 1990s with the US today. ZombieBanks is a good review of the latest thinking about the ebb andflow of the political economy.” -- R. ChristopherWhalen, author of Inflated

Zombie banking has become standard operating procedure for bigdebtor nations. They prop up failing institutions, print money, andavoid financial corrections. But in an attempt to prolong theinevitable, bigger problems are created. The approach used now hasnot, and will not, work. This timely book reveals why. ZombieBanks tells the story of how debtor nations and failinginstitutions are damaging the long-term prospects of the globaleconomy.

Author Yalman Onaran, a veteran Bloomberg News reporter andfinancial banking sector expert, examines exactly what a zombiebank is and why they are kept alive. He also discusses how theyhurt economic recovery and what needs to be done in order torestore stability. Along the way, Onaran takes an honest look athow we arrived at this point and details the harsh realities thatmust be faced, and the serious steps that must be taken, in orderto get things headed in the right direction.

  • Puts insolvent banks and debtor nations in the spotlight andexamines how they are crippling the global economy
  • On the record sources include Paul Volcker, Joseph Stiglitz,Sheila Bair, and many more bank executives, regulators,politicians, and policymakers in the United States and abroad
  • Takes the complexity of the current situation and translates itin a way that makes it understandable

While the short-term measures taken to stave off depression andrejuvenate economic growth may offer hope, they are unsustainableover the long term. Get a better look at what really lies ahead,and what it will take to improve our economic situation, with thisbook.

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