Appeared on October 18, 2008
Continuing consolidation in the banking industry will be another change in the landscape, according to Erik Benrud, associate clinical professor of finance at Drexel University.“You are seeing that with the Wells Fargo, Citigroup bidding war,” Benrud said, in reference to the banks’ recent fight to take over the beleaguered Wachovia Bank.“Coming out of the rubble, there will be new institutions combining.“Benrud also believes that regulators will quickly turn their attention to the murky world of derivatives that is largely being blamed for the crisis.