Wednesday, February 2, 2011

Bruce Berkowitz On U.S. Financial Companies, And On CIT & RF

"It's going to be tough for the small guys to stay independent given capital requirements and regulations and so on.

We own Regions Financial. Great low cost deposit base. We also have CIT. We're the largest owner. CIT is a great business. What a sweet spot they're in: small business loans. Medium business loans. If there's any company that's needed today it's CIT. The only thing CIT needs is a low cost deposit base. Gee I'm going to have to think of some candidates on that one."

Bruce Berkowitz

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