Roller Coaster: The Bank of America and The Future of American Banking - Hardcover

Johnston, Moira

Hardcover

ISBN 10: 0899199550 ISBN 13: 9780899199559

Publisher: Ticknor & Fields, 1990

Synopsis

Traces the Bank of America's history, from its rise during the Third World debt crisis, to its decline, and then to its rebirth in the hands of Tom Clausen

About this title

From Publishers Weekly:

Once the world's largest, most profitable bank, Bank of America was laid low by feverish lending to Third World nations, addictive recycling of petrodollars, crumbling markets and tame leadership. Citibank, its chief competitor, shifted gears to push services and fees, leaving B of A in the dust. Tom Clausen, born-again banker invited back in 1986 to lead B of A's turnaround, gets his knocks from Johnston ( Takeover: The New Wall Street Warriors ), who faults his insecure management style and gives partial credit for the recovery to ousted CEO Sam Armacost. A fast-moving, captivating account and an incisive portrait of an entire industry, the book also spotlights California golden boy Chuck Schwab, who sold his discount brokerage to the bank, and Ichak Adizes, charismatic, gesticulating Yugoslavian corporate psychotherapist hired for $1 million per year to "cure" B of A personnel of "premature aging." Photos.
Copyright 1990 Reed Business Information, Inc.

From Library Journal:

In 1979, Federal Reserve chairman Paul Volker initiated a new approach to monetary policy in the United States, moving the country away from Keynesian theory and into an era in which control of the money supply (not interest rates) would be the economy's guiding force. This shift drastically affected the oldest and largest banks in the country, including the Bank of America. Johnston, author of Takeover: The New Wall Street Warriors ( LJ 11/15/86) , explores the events and profiles the people in the big banks as they struggled with the new monetary policy, the impact of technology on the financial world, overwhelming Third World debt, and a volatile stock market. This is an interesting account of an important era in economic history; it will be a valuable resource for economists, finance industry insiders, and scholars in the field.
- Joan Pedzich, Har ris, Beach & Wilcox, Rochester, N.Y.
Copyright 1990 Reed Business Information, Inc.

About this edition

• Publisher: Ticknor & Fields
• Publication date: 1990
• ISBN 10: 0899199550
• ISBN 13: 9780899199559
• Binding: Hardcover
• Edition number: 1
• Number of pages: 417