For those of you who enjoy the bracing experience of reading some top notch financial and economic journalism by a Nobel Prize Winning Economist.  I give you Paul Krugman of the New York Times.  

Go here to read a great Op Ed piece about Zombie Banks.   What are Zombie Banks?,  you ask. They are “financial institutions that are effectively bankrupt but are being kept alive by government aid.” Think CitiGroup, think AIG a (well ok that’s a Zombie Insurance Company but it’s the same thing since about 1999 when the terrific idea of de-regulation kept leading us down this ‘yellow brick road”) there are many more.

Go here to read a list of dead banks walking in June of 2008. And those banks are only walking on the NASDAQ – so BofA for instance isn’t listed there.  I haven’t looked to see how many of the walking dead are still walking, but I know that one of them, CORUS, is owed at least $139,000,000 by Midbar Condo Development – One Las Vegas, whom we at David Otto & Affiliates, PC are suing for the return of several condo deposits.  Stay tuned, I just moved for a default judgment against Midbar – One Las Vegas.  We may get that money soon.