2010 Will Be A Painful Year For Big Banks: Analysts Tell CNBC

Talking with CNBC, Michael Pinto, senior market strategist with Delta Global Advisors, said that the banks are in a confused state right now.

According to him, there are contradictory statements coming from the government. Pento said that the total loans and leases for banks have decreased by 7% on YoY basis. Christopher Whalen, senior vice president and managing director with Institutional Risk Analytics, echoed the sentiments. He said that larger banks with off-balance sheet exposure are going to be in pain during 2010. He also said that he expects the banks to get smaller and not grow bigger.