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• catalog abstract "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-oriented investment bankers and wholesalers.".
• catalog contributor b4066294.
• catalog created "1993.".
• catalog date "1993".
• catalog date "1993.".
• catalog dateCopyrighted "1993.".
• catalog description "Includes bibliographical references (p. 337-343) and index.".
• catalog description "Library Journal Best Books".
• catalog description "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-oriented investment bankers and wholesalers.".
• catalog description "pt. I. The United States: Surviving the Decline. 1. Legacies of the 1980s. Reaganomics: Vision or Voodoo? Mergers, Buyouts, Junk Bonds, and Greed. The Decimation of the S & Ls. 2. Banking at the Brink. Fall from Grace. Cleaning Up the Mess. Terra Nova. 3. The New Wholesalers. The Equity Era. The Volatile Life. Come the Free Markets. New Men and Aliens -- pt. II. The Rising Tide in Europe. 4. Renaissance. 1992 and All That. The First European Merger Boom. Not So Quiet on the Eastern Front. 5. Universal Strategies. Universal Differences. Deutsche Bank Uber Alles. Entangling Alliances. 6. Alternative Approaches. Les Affaires Francaises. Ruling Britannia. Memorable Mistakes -- pt. III. Japan Comes Back to Earth. 7. The Rising of the Sun. Empire Economics. MacArthur's Proconsulate. Economic Software. 8. The Supernova Fades. The "Bubble Economy" Innocents Abroad. Whither the Cost of Capital Advantage? 9. Discarding the Third World Remnants. The Emperor's New Clothes. Further Deregulation and Other Miseries -- pt. IV. Becoming Champions. 10. Competition and Success. Getting the Strategy Right. Doing It Right. Measuring Success. 11. The New World Order.".
• catalog extent "x, 357 p. ;".
• catalog identifier "0875843263 (acid-free paper) :".
• catalog issued "1993".
• catalog issued "1993.".
• catalog language "eng".
• catalog publisher "Boston, Mass. : Harvard Business School Press,".
• catalog spatial "European Economic Community countries.".
• catalog spatial "Japan.".
• catalog spatial "United States.".
• catalog subject "332.1/5 20".
• catalog subject "Banks and banking, International.".
• catalog subject "HG4930.5 .S57 1993".
• catalog subject "Investment banking European Economic Community countries.".
• catalog subject "Investment banking Japan.".
• catalog subject "Investment banking United States.".
• catalog tableOfContents "pt. I. The United States: Surviving the Decline. 1. Legacies of the 1980s. Reaganomics: Vision or Voodoo? Mergers, Buyouts, Junk Bonds, and Greed. The Decimation of the S & Ls. 2. Banking at the Brink. Fall from Grace. Cleaning Up the Mess. Terra Nova. 3. The New Wholesalers. The Equity Era. The Volatile Life. Come the Free Markets. New Men and Aliens -- pt. II. The Rising Tide in Europe. 4. Renaissance. 1992 and All That. The First European Merger Boom. Not So Quiet on the Eastern Front. 5. Universal Strategies. Universal Differences. Deutsche Bank Uber Alles. Entangling Alliances. 6. Alternative Approaches. Les Affaires Francaises. Ruling Britannia. Memorable Mistakes -- pt. III. Japan Comes Back to Earth. 7. The Rising of the Sun. Empire Economics. MacArthur's Proconsulate. Economic Software. 8. The Supernova Fades. The "Bubble Economy" Innocents Abroad. Whither the Cost of Capital Advantage? 9. Discarding the Third World Remnants. The Emperor's New Clothes. Further Deregulation and Other Miseries -- pt. IV. Becoming Champions. 10. Competition and Success. Getting the Strategy Right. Doing It Right. Measuring Success. 11. The New World Order.".
• catalog title "Comeback : the restoration of American banking power in the new world economy / Roy C. Smith.".
• catalog type "text".