Trouble brewing

david-sayles-blackrock

On September 15, exactly one year on from the collapse of Lehman Brothers, Federal Reserve chairman Ben Bernanke told delegates at a conference held at the Brookings Institution, a Washington, DC-based public policy research institute, that the recession is “very likely over” from a technical perspective.

He may have a hard time convincing US small and medium-sized banks of that. While many of the largest US financial institutions – particularly those 19 firms subjected to stress tests earlier t