There are 300-500 new rules that enact financial legislation that were written without regulators,points out Robert Albertson,chief strategist at Sandler O'Neill.It's starting to get clearer as implementation begins.There's a lot that has to go on till this is sorted out.By this summer,it will be visible.
In banking,you've got loan growth again.It's meager and sluggish,mirroring the overall recovery.There are still a lot of sick banks.They are small banks,Mr.Albertson explained.
The federal program for encouraging small business lending isn't working well.Bankers say there aren't enough applicants for the loans.As well,they require a lot of paperwork,which means the banks would have to hire additional staff,decreasing the profitability of the program.
Sandler O'Neill is an independent,full service investment banking firm.It has been advising financial companies for more than 20 years.
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