Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

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Nov 3 9:30 AM EST

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From: David C. Burns	8/29/2011 5:54:18 AM
	of 1428

Profits Falling, Banks Confront a Leaner Future By ERIC DASH The New York Times Published: August 28, 2011 Battered by a weak economy, the nation’s biggest banks are cutting jobs, consolidating businesses and scrambling for new sources of income in anticipation of a fundamentally altered financial landscape requiring leaner operations. Bank executives and analysts had expected a temporary drop in profits in the aftermath of the 2008 financial crisis. But a deeper jolt did not materialize as trillions of dollars in federal aid helped prop up the banks and revive the industry. Now, however, as government lifelines fade and a second recession seems increasingly possible, banks are finding growth constrained. They are bracing for a slowdown in lending and trading, with higher fees for consumers as well as lower investment returns amid tighter regulations. Profits and revenues are slipping to the levels of 2004 and 2005, before the housing bubble. nytimes.com

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