Is it any wonder that most bankers today feel as though they're trapped in a Ray Charles ballad about rainy nights in Georgia? The sluggish U.S. economy has cut the demand for business loans, while declining interest rates have trimmed the returns on most securities-resulting in the worst margin squeeze for banks in years.
"I hear that everywhere I go in the country today" says Charles Miller, managing director of investment banking at Alex Sheshunoff Management Services. "You can't get it on the loan side. You can't get it on the securities side. Those are the only two legal ways of getting [a return] that I know of."
Unfortunately there is no miracle picker-upper for the …
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