Middle East's U.S. Bank Buys a Bust
However, Diaz doesn't think sovereign wealth funds in the Middle East will be investing in U.S. banks again anytime soon - not because they need cash at home and not because of crisis-era investments but because the U.S. is a less attractive place to invest.
"They're not going to pull their investments in any way from the United States or from our banking system," says Diaz, "but they'll continue to do what they've been doing the past couple of years: Relocate them much more to emerging markets and growing economies. Instead of making 2% in the U.S. with the slow national recovery that we have, they can go to India or China and try to collect 8%."
-- Written by Lauren Tara LaCapra in New York.
>To contact the writer of this article, click here: Lauren Tara LaCapra.
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