Jumping Off The Foreign Bandwagon
Until very recently, nothing seemed more seductive to bank executives than a foreign climate. From the Sixties on, U.S. financial institutions trekked abroad in prodigious numbers. And beginning in the Seventies, non-U.S. banks began returning the favor, cross-investing in the American market. Now in the Nineties, the allure of foreign banking operations has materially abated and should abate further in the next few years.