Francesco Guerrera of the FT spoke with CNBC about his bullish position on U.S. banks.
- 0:15 GDP numbers have improved the position; banks are filling up on debt, refinance their debt and clean up their balance sheets.
- 0:55 Large banks with small exposure to CRE are doing great, but smaller banks are suffering. The lower end should be a concern.
- 1:38 Things have improved in Europe since the stress tests, but banks there are still suffering from an inability to raise capital.
- 2:00 Europe’s recovery will be much slower.
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