Jon Corzine’s Optimistic Banking Forecast

Corzine: Right now, financial institutions are sort of on everybody’s trouble list. I think I will be looking for strong financial institutions that, I think, will recover with the recovering economy. There are a number of real opportunities. The one unique element of recessions in difficult times is you create value for those people who have [IB] liquidity and have the resources wherewithal to participate in the upcoming recovery. I’m an optimist. I’ve seen a number of recessions in my lifetime. I heard my parents talk about the depression. But in every stage of American history, we’ve recovered from the difficult times. And America is stronger, more wealthy and more integrated into a global economy, which I think is very, very supportive of a bright future for my children and their children as we go forward.

Gov. Jon Corzine says the global economy will eventually rebound.