“What Were They Thinking?”
Best Lawyers Business Edition: Winter 2016 12/28/16 James D. Friedman
Below is an excerpt:
There's no doubt that banking has become a very different business. Gone are the days of lending it out at six percent, taking it in by three percent, and being on the first tee by 3:00 p.m. As interest margins remain compressed and regulatory and operating expenses climb, banking becomes more of a public utility, expected to provide basic financial services within a very harsh regulatory environment and against difficult competitors and unregulated alternatives.
Originally published in Best Lawyers Business Edition: Winter 2016