Turning Wall St. Woes into Main St. Opportunities
The credit crunch of 2006 and 2007 and the sub-prime crisis have become the banking crisis of 2008. A wide array of financial information to date in 2008 paint a dismal picture of the industry that was enjoying record profits just a few years ago. While there is much to be deeply concerned about in the ongoing crisis, there are also opportunities for those U.S. and foreign banks that have not been significantly affected.
Instead of hunkering down and waiting out the storm, this is the time to think boldly. There is a “window of opportunity” for well-capitalized and profitable banks to act decisively while others decide to abandon growth strategies and adopt a survival mentality. Will you be a Shark or a Minnow? In this Strategic Commentary, entitled “The Banking Crisis: Turning Wall Street Woes into Main Street Opportunities,” Speer & Associates, Inc. (S&A) reviews the factors leading to today’s banking crisis and the implications the situation presents for the industry in the foreseeable future.
