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Europe Turning To U.S. For Loans-WSJ

This article discusses the way that even established European companies are having to come to U.S. banks to meet their lending needs, due to the deleveraging process in Europe. This is very important as U.S. banks profits have been hamstrung by a variety of things with one of them being lack of credit demand. Smart U.S. banks can cherry pick the business that they want and this will help them build stronger relationships overseas. Certainly there is increased risk in Europe due to the problems across the pond, but this uncertainty offers a huge opportunity for smart underwriting.