Night of the Living Banks?
From this morning's Morning Edition on NPR:
In the continuing series on the lexicon of financial misfortune, Morning Edition introduces the term "zombie bank." A zombie bank keeps draining bailout capital from the government but doesn't respond with any meaningful lending that helps the economy recover. The prevalence of zombie banks made the long Japanese recession of the 1990s especially painful.
If anyone here banks with Citi, they were the prime example of a zombie bank. Yet another sign that this shit's going to get way worse before it ever gets better. :-(
Listen to the original piece here
In the continuing series on the lexicon of financial misfortune, Morning Edition introduces the term "zombie bank." A zombie bank keeps draining bailout capital from the government but doesn't respond with any meaningful lending that helps the economy recover. The prevalence of zombie banks made the long Japanese recession of the 1990s especially painful.
If anyone here banks with Citi, they were the prime example of a zombie bank. Yet another sign that this shit's going to get way worse before it ever gets better. :-(
Listen to the original piece here