America's Biggest Banks Are Zombies

Many are already insolvent, and feds will need a bolder plan

By Jason Farago, Newser Staff

Posted Feb 13, 2009 8:30 AM CST

(Newser) – In the corridors of Wall Street and Washington, a worrying consensus is growing: Some of the nation's largest banks are in fact insolvent. If banks reassessed the value of the complex mortgage-backed securities that taint their balance sheets, they would outweigh all assets on hand,... Read full story »

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America's Biggest Banks Are Zombies

Many are already insolvent, and feds will need a bolder plan

debt • mortgage backed securities • banks • financial crisis • insolvent • toxic assets

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More Newser Stories

Commercial Real Estate May Set Off 2nd Crisis

Another mortgage-backed securities market gets into trouble

Bailout Honchos Weigh Toxic-Asset 'War Bonds'

Treasury's new idea would allow private investors to profit from bailouts

Toxic Asset Plan to Offer Subsidies to Investors

Plan will offer loans, subsidies to investors willing to suck up bad assets

Finance Geeks Behind Crisis Hard at Work on a Fix

The inventors of the CDO turn their math minds to better valuations of assets

No Silver Bullet for Crises Like These: Pearlstein

Complex financial system requires complicated fixes ... and lots of patience

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