Saigon Zombies in Wall Street Journal
David Weidner in Wall Street Journal, “A Bank Zombie Lurks in Little Saigon”:
more than half of the 707 institutions that got infusions as part of the $700 billion Troubled Asset Relief Program have yet to pay it back. A total of 136 financial institutions have the added distinction of skipping the most recent dividend payment, according to the Treasury Department.
They are the banking industry’s version of the deadbeat club. These banking zombies took a combined $3 billion from TARP.
Saigon National is a zombie bank.