The Rise of Zombie Governments

Just in time for Halloween, Truth In Accounting has updated its Zombie Index for state governments.
TIA’s Bill Bergman explains what the Zombie Index is and why ranking at the top of the list is not a good thing for the residents of the states that do:
This index is inspired by the work of Edward Kane, Professor of finance at Boston College. Kane wrote books warning about the developing crisis in the deposit insurance system in the late 1980s. Kane coined the term “zombie bank,” referring to banks and thrifts that were effectively insolvent but allowed to remain open via untruthful

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