Word: dealing
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...fair, McColl isn't the only one to have figured this out. The past month has been peppered with the kind of earthmoving financial deals that would have seemed impossible a decade ago. On the same day last week that the BankAmerica-NationsBank deal was announced, Banc One chairman John B. McCoy (who once mused that in the future the industry would have just five or six major banks) announced plans to merge his $116 billion bank with the much merged $115 billion First Chicago NBD Corp. All this came just a week after insurance and brokerage giant Travelers Group...
...going to be like war. Call it semper finance. Says David Chaum, the visionary guru behind DigiCash, a Net-based currency: "What you find in retail banking today is that some banks see themselves as acquirers, and others see themselves as, well, acquirees." On the day the Travelers deal was announced--creating a giant with $42 billion in equity--vice presidents at still independent Goldman Sachs nervously fingered their E-mail with questions about when the famously private firm might seek a public offering to raise more cash in order to boost its size. Technology and deregulation have--even...
...what seemed to be the first immutable law of finance--you can't get a bigger reward without a bigger risk--was up for grabs. Alas, derivatives aren't inherently good: Just ask the citizens of Orange County who lost millions of dollars in public money when a derivatives deal blew...
...hours while you doze (and is willing to pay you for the privilege), your wealth account will be smart enough to decide if that's a risk you'd be willing to take in exchange for the reward and then, if it is, to lock in the deal...
...risks of the new system do point up the problems of trying to regulate such a quickly changing world. In the week after their deal, Weill and Reed tipped their hats toward Washington, but it was just a courtesy. Banking, everyone seems to have acknowledged, has entered an era that may be larger than old-fashioned laws. Fed Chairman Alan Greenspan, for one, has abandoned the notion that it is possible to regulate this broad frontier with old-style rules. The burden, he says, has to rest with private industry: Regulate yourselves. "To continue to be effective, government's regulatory...