Community banks getting no love in this crisis


Recently, I posted a Wall Street Journal article that suggested smaller banks and new banking enterprise can supply the lion’s share of additional credit needed for the U.S. banking system. While President Obama is off meeting the heads of the big banks, we should keep in mind that there are other institutions out there that can bring the U.S. credit markets back to life.

I am not the only one making this case. Meredith Whitney has also been vocal about the need to start focusing on community and regional banks.

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Below is a CNBC video with Frank Sorrentino, the North Jersey Community Bank chairman/CEO lamenting the lack of attention they are getting.

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Also see this video of Meredith Whitney talking about her view of the future of the banking industry, the demise of big banks and the rise of small banks. Great stuff. (PS. – the associated article also quotes me, so, of course I like it!).

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