When bankers look back on the early 1990s, many are likely to look at the world of investment securities and wish they had never entered it.

Sure, observers expect that about half of all mutual funds will be sold by banks by the turn of the century. And it is hard to read any business publication without seeing story after story about banks entering annuity sales and mutual fund distribution.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.