  The Kondo divergences owing to interaction of current carriers with local
moments in highly correlated electron systems are considered within the Hubbard
and s-d exchange models with infinitely strong on-site interaction, the
many-electron Hubbard representation being used. The picture of density of
states containing a peak at the Fermi level is obtained. Various forms of the
self-consistent approximation are used. The problem of the violation of
analytical properties of the Green's function is discussed. Smearing of the
"Kondo" peak owing to spin dynamics and finite temperatures is investigated.
