Commentary: Uncertainty on government action hurts banks

01/23/2009 | CNBC

Uncertainty over what the government may or may not do is the biggest current drag on bank stocks, Jeff Cox writes in a CNBC commentary. Banks have been claiming that they are sound while warning of future write-downs and profit shortfalls in the next several quarters, but some of that downside stems from uncertainty over government actions. "We just need a coordinated policy on all fronts, including accounting and regulatory actions, that is clearly articulated to the world," said Bill Isaac, who was chairman of the Federal Deposit Insurance Corp. from 1981 to 1985.

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