Word: mckinseys
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...points on Tuesday, just before Chairman Reed made his disclosure. The market quickly stabilized the next day, and Citicorp's stock rose to close the week at 55 3/ 8, up 4. Investors praised Citicorp's openness. Said an approving Lowell Bryan, a director of the Manhattan-based McKinsey consulting firm: "This is the start of realistic accounting...
...billion in the red by normal accounting methods. Normal accounting, however, has long since gone by the boards in managing the ugly thrift crisis, which after years of alarmed attention is still getting decidedly worse. So bad is the problem, warns Lowell Bryan, a director of the McKinsey & Co. management-consulting firm, that "our entire credit system has become unsound...
...marketplace. Securitization is double edged: in only a few years, the technique has given an enormous boon to consumers in the form of lower interest rates and fresh infusions of money for mortgages and car loans. Banks have also gained from securitization, observes Lowell Bryan, a director at the McKinsey consulting firm. They have, he says, been able to sell many of their own loans to securitizers and thus free scarce capital for more lending activity...
CREDIT: TIME Chart by Cynthia Davis. [TMFONT 1 d #666666 d {Source: McKinsey & Co.}]CAPTION: OLD-FASHIONED LENDING DOWN...
CREDIT: TIME Chart by Cynthia Davis. [TMFONT 1 d #666666 d {Source: McKinsey & Co.}]CAPTION: . . . NEWFANGLED BORROWING...