Comeback
The Restoration of American Banking Power in the New World Economy
by Roy C. Smith
ISBN: 0875843263
ISBN-13: 9780875843261
Format: Hardcover
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Bibliographic Details
Publisher: Perseus Distribution Services
Published date: 1992
Size: 6.25 x 9.5 inches
Weight: 1.5 pounds
Publisher's Notes
The 1980s were grim years in American banking. Massive loan losses, disintermediation, global competition, and management mistakes caused many failures, forced restructuring, and did enormous damage to the power and prestige of the country's largest banks, which fell far behind their international rivals in world rankings. Yet, today, American banking institutions are back on top, leading the world in transaction volume, innovation, and in the reach of their services. In this timely book, former investment banker Roy C. Smith tells the story of this remarkable "comeback", by analyzing changes and competitive developments in U.S. finance during the past several years and comparing these to events in Europe and Japan. Looking across the banking and securities industries on three continents, Smith demonstrates how the basis of banking competitiveness is changing, from the size of assets and stability of systems protected by regulation to market know-how, innovation, and technology. European banks, he shows, are in the early stages of a free-market renaissance for which many are competitively ill-prepared. Even for the powerful German banks, events in Eastern Europe and East Germany will continue to be a troublesome distraction. In Japan, banks and brokers have been weakened by losses and scandal and now face major regulatory changes that will disrupt their once safe and profitable franchises. With the tide turning, Smith argues, the U.S. survivors of the restructurings of the 1980s will spearhead a recovery of American financial power. To do so, U.S. banking and finance will necessarily split into two distinct parts: large, technologically advanced retail companies and market-orientedinvestment bankers and wholesalers.
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Comeback: The Restoration of American Banking Power in the New World Economy
Smith, Roy C
Boston, Massachusetts, U.S.A.: Harvard Business School Pr, 1992 Very Good Hardcover in Very Good DJ. White DJ with blue and black titles has faint wear. Boards mildly edgeworn. How American, European, and Japanese banks have adapted after the losses of the 1980s. 357 Pages. ***We ship daily. Our books are carefully described and packaged in boxes (not envelopes).***. Assumed First Edition. Cloth. Very Good/Very Good. 9.5 x 6.25. ( more information)
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