With automakers teetering, some banks may suffer too

Filed under: Company News , Economy There’s no shortage of evidence that banks’ woes have damaged businesses in other industries. Now, with automakers nearing the precipice, it may be the financial industry’s turn to suffer some collateral damage. Many of the banks at risk do business in places with high concentrations of auto workers, writes Eileen Rooney and John Barber, analysts at investment bank Keefe Bruyette & Woods, in a note to clients. Layoffs or pay cuts could

make it more difficult for many of their customers to pay back loans. But car makers’ woes could hurt a handful of bigger financial institutions as well, according to the analysts. Continue reading With automakers teetering, some banks may suffer too With automakers teetering, some banks may suffer too originally appeared on Daily Finance on Wed, 08 Apr 2009 17:30:00 EST. Money.Finance|Finance|Finance

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With automakers teetering, some banks may suffer too