Minerd Says Banks Need Clear Guidance From Regulators to Thrive

  • Guggenheim CIO says cost cuts only way left to boost profit
  • Calls bank debt a good way for investors to get safe returns

Bank profits will continue to be squeezed until U.S. regulators provide clearer guidance on issues such as capital requirements, according to Scott Minerd, chief investment officer for Guggenheim Partners LLC.

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