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An in-depth look at the problems surrounding zombie banks and their 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 a foreword and numerous interviews - urge that insolvent banks both small and too big to fail be allowed to do precisely that. Reading bank balance sheets is not everyone's idea of a good time. But Mr. Onaran, with support from Ms. Bair, does the chore and explains what it means. Mr. Onaran shows that the…mehr

Produktbeschreibung
An in-depth look at the problems surrounding zombie banks and their 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 a foreword and numerous interviews - urge that insolvent banks both small and too big to fail be allowed to do precisely that. Reading bank balance sheets is not everyone's idea of a good time. But Mr. Onaran, with support from Ms. Bair, does the chore and explains what it means. Mr. Onaran shows that the process of rescuing dead and dying banks is increasing systemic risk in the global banking system. And that is really more frightening than scream flicks from Tinseltown." -- Financial Post

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

"Do We Love Zombie Banks? The new book by Yalman Onaran of Bloomberg News, Zombie Banks: How Broken Banks and Debtor Nations Are Crippling the Global Economy, is a well-organized and clearly written discussion of the use of leverage to provide growth in many different economies. Onaran has carefully researched the zombie phenomenon and makes some important points in this concise volume about both public policy and the concerns of investors. One of the more interesting early threads in the book is the juxtaposition of the experience of the US in the S&L crisis and Japan in the 1980s and 1990s with the US today. Zombie Banks is a good review of the latest thinking about the ebb and flow of the political economy." -- R. Christopher Whalen, author of Inflated

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.
Autorenporträt
Yalman Onaran (New York, NY) is a veteran reporter on the finance team at Bloomberg News. Yalman has been studying bank insolvency for decades, having opened the Istanbul bureau of Bloomberg News and exposed that 13 Turkish banks were insolvent and the government was turning a blind eye to the problem. Subsequently, the economy minister resigned in shame. The Treasury Secretary was fired and sued for lying to the public about the status of the banking system. Yalman was also one of the lead reporters breaking news on Lehman Brothers and Bear Stearns as they collapsed in 2008. His work has appeared in The New York Times, Washington Post, Chicago Tribune, Frankfurter Allgemeine Zeitung, Nikkei Sangyo Shimbun, Valor Economico, Buenos Aires Economico, Die Welt, International Herald Tribune, Toronto Star, in addition to Bloomberg Markets, Bloomberg Businessweek, and on the Bloomberg Terminal. He holds a bachelor's degree in economics and sociology from the College of Wooster (Phi Beta Kappa), and two master's degrees in journalism and in international affairs from Columbia University.