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.

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


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!).


Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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