Meeting Today at Whitehouse with Head of Banks

President Obama set the tone of a top banker meeting at the Whitehouse this morning with a 60 minute interview last night calling some of his guests  “Fat Cats.” http://www.cbsnews.com/video/watch/?id=5975092n&tag=api

A meeting with top bankers, pre-scheduled several weeks earlier, should be interesting, especially given President Obama’s hard words last night on a 60 minute interview. A similar meeting, earlier in the year, was conducted without much information from within the meeting leaking to the main airwaves, and we expect much of  the same today.

Rock and a Hard Place:

Bankers are in a tough spot as they are being told to lend, yet also shore up their balance sheets. We do not envy their position, yet some of the damage was done by peers in their industry. We agree that money is not moving as fast as it needs to, and lending should resume if at all possible, but we also understand that banks must stay solvent.

One thing we feel certain will occur, in the future, for the better or worse, is greater regulation.

JK