It's customary for magazines to do year-end issues that recap where the respective industries they serve have been and where they're headed in the coming year. While it's only November, I thought I'd get a jump on things with a short Christmas wish list for the banking industry. Some of the things I wish for in 1998:

Someone explains to Hugh McColl that overpaying for a financial institution is glamorous for only a day. Then reality sets in. Meanwhile, other institutions are frantically trying to gussy themselves up for a sale five (or more?) times book value. Where will this over-valuation end?

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