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U.S. Banks Face Main Street Squeeze

Slowing U.S. economy may undermine bank earnings, bonuses.

By Christine Harper, Bloomberg News | Updated on August 24, 2011

Two U.S. Treasury secretaries and Federal Reserve Chairman Ben S. Bernanke provided capital and cheap loans to banks during the last three years to help fuel an economic revival. It hasn’t worked out.

While those policies benefited Wall Street, they failed to produce a sustained recovery on Main Street, where unemployment remains more than 9 percent. Now the sputtering U.S. economy may sap bank earnings and Wall Street bonuses.

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