Bair says troubles aren't over for banks in slow recovery

10/15/2009 | Reuters

Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., told a Senate banking subcommittee on Wednesday that economic recovery will be slow and that there will be a large number of banks that remain troubled throughout it. Commercial real estate loan portfolios will probably be the next source of problems at a number of banks, Bair said. "The ultimate scale of losses in the CRE loan portfolio will very much depend on the pace of recovery in the U.S. economy and financial markets during that time," Bair said.

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