Isaac: Banks Strengthen, But Fed’s Low Rates Pose a Challenge, on NewsMax, article includes video of the interview, February 19, 2013
Posted: Feb 21, 2013
U.S. banks have improved their finances to the point that their capital positions are better than at any time in more than 40 years, former FDIC Chairman William Isaac tells Newsmax TV in an exclusive interview. However, he adds that the Federal Reserve’s ultra-low interest rate policy poses problems for the industry.
“Banks have done really well over the past year, and that’s because they have rebuilt their balance sheets,” says Isaac, now senior managing director of FTI Consulting. “Their capital is stronger than it’s been in my career [more than 40 years]. They’re doing really well.”
The KBW Bank (stock) Index has soared 21.8 percent during the past year.
Here is the link to the full article
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