Zombie Companies: Nightmare on Wall Street

Reader Comments
Back to blog

When the banking and financial crisis hit the Japanese nation back in the 1990's. The term used for the bail-outs of their financial institutions by the government was the term created and coined "zombie banks". Their equivalent to the Dow was near 30,000 and is now around 7230. You have to wonder how low our Dow will continue to freefall from the high it once had of 14,000 and how long it will take to recover with the presiding person in the white house. Especially since he is doing the same things the Japanese did to themselves.
You know the phrase, those that don't learn from history are doomed to repeat it is sure being played out in front of our eyes.
Let's see who the democrats (aka.socialists) will blame this time now that the republicans aren't signing their name on the bottom line!

Jeff of WI 3:54AM March 03, 2009

BofA was solvent until they took on the heavy debt load of toxic securities from purchasing Merrill Lynch. As a long time small depositor (over $100K) in BofA, I just want to know what the hell were they thinking? Now, they have become a shell of a bank, and my money is only as good as the FDIC insurance.

Tony Lee of CA 4:47PM February 26, 2009