Quantum Fund co-founder George Soros had it right on Monday, when he said the U.S. recovery would be held back by “basically bankrupt” banks and companies.
I call them the “zombies,” the institutions being propped up by government bailouts. Companies like Citigroup Inc. (NYSE: C), Bank of America Corp. (NYSE: BAC), General Motors Corp., Chrysler LLC, etc. On an operating level, these walking dead are sucking the life out of the recovery.
Unlike in previous downturns, huge resources have ....
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