Mike Mayo Sees US Banks Raising Even More Capital
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CLSA's top-rated banking analyst, Mike Mayo, believes that U.S. banks will still need to raise more capital. According to a Bloomberg report, the former Deutsche Bank analyst cited bad loans on commercial real estate, saying that regional banks will be among the worst performing as they have consistently had the largest exposure to this segment of the market.
Presenting at a conference in Hong Kong today, Mayo said he expects to see another corporate failure (similar to Enron or WorldCom) before this recessionary cycle is done.
Mayo maintains his Underweight rating on the U.S. bank group.
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