An in-depth look at the essential issues surrounding zombie institutions and their effect on the global economy. Zombie banking has become standard operating procedure for big debtor nations. They prop up failing institutions, print money, and avoid financial corrections. But in an attempt to prolong the inevitable, bigger problems are created. The approach used now has not, and will not, work. This timely book reveals why.
Zombie Banks tells the story of how debtor nations and failing institutions are damaging the long-term prospects of the global economy. Author Yalman Onaran, a veteran Bloomberg News reporter and financial banking-sector expert, examines exactly what a zombie bank is and why they are kept alive. He also discusses how they hurt economic recovery and what needs to be done in order to restore stability. Along the way, Onaran takes an honest look at how we arrived at this point and details the harsh realities that must be faced, and the serious steps that must be taken, in order to get things headed in the right direction.
While the short-term measures taken to stave off depression and rejuvenate economic growth may offer hope, they are unsustainable over the long term. Get a better look at what really lies ahead, and what it will take to improve our economic situation, with this book.
©2011 Yalman Onaran (P)2011 Audible, Inc.
"Read this book if you would like to understand why the road back to full employment will be so long and difficult. A brilliant and timely contribution; disturbing in every detail." (Simon Johnson, professor, MIT Sloan School of Management)
No, I would recommend Boomerang by Michael Lewis which was much more engaging.
Sure, why not.
I have no strong feelings on the performance.
This is by far the best overview and postmortem analysis of the financial crisis that I've ever read, and I've read about ten by now.
The author is not afraid to hand out blame. Names, actions, clashing motives and narrow business interests are revealed. It was not all just drunk frat-boys with financial power tools.That's a refreshing change from most other narratives.
The book makes clear how and why we failed in handling the financial crisis when it broke, the continuing consequences of this failed policy and what we can do to change it. A real nifty tidbit is the explanation on why the german banks acted particular crazy during the boom. Hint: Perverted incentives.
Great stuff. I'll have to read it again soon.
Zombie banks was a good listen. It was full of interesting and relevant information. It starts off way too slow. You get the feeling that these banks aren't good for much, but what's just as bad are the suggestions that more government regulation/ involvement is what will fix them. great information....solution/opinion...well
Recommended. Great info.
My wife loves this book because it helps her to fall asleep. I agree with the other reviewer that Boomerang covers the same ground in a much more engaging way.
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