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Publisher's Summary

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.

  • Puts insolvent banks and debtor nations in the spotlight and examines 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 it in a way that makes it understandable

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.

Critic Reviews

"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)

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Boomerang covers this topic much better

Would you recommend this book to a friend? Why or why not?

No, I would recommend Boomerang by Michael Lewis which was much more engaging.

Would you be willing to try another book from Yalman Onaran? Why or why not?

Sure, why not.

What did you like about the performance? What did you dislike?

I have no strong feelings on the performance.

Was Zombie Banks worth the listening time?

Yes

1 of 1 people found this review helpful

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Must read

This book is a must read to put the dots together as to the coming correction

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The straight dope on the financial crisis

Would you listen to Zombie Banks again? Why?

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.

What was the most compelling aspect of this narrative?

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.

What’s the most interesting tidbit you’ve picked up from this book?

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.

Any additional comments?

Great stuff. I'll have to read it again soon.

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decent read

Would you say that listening to this book was time well-spent? Why or why not?

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

Would you recommend Zombie Banks to your friends? Why or why not?

Recommended. Great info.

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Snoozathon

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.

0 of 1 people found this review helpful