The alternative policy begins with restructuring the “zombie” banks led by a cartel that gambled with people’s deposits, smuggled their money abroad, and whose bank balance sheets are ...

Banks often chose to focus on recovering the ... Massachusetts nurse Karen McDonough was shocked to discover she still owed money on a 'zombie mortgage'—17 years after buying her first home.

This is indicative of evergreening motives by lenders when interest rates rise: lenders face incentives to restructure existing loans of zombie firms to avoid the realization of losses on their ...