Thriving on cheap money: American financial firms

Article Abstract:

The dramatic decline in US short-term interest rates is generating sharp increases in profits at many of the nation's largest banks and brokerage houses. Strong earnings reports for the second quarter of 1992 have been posted by Salomon Brothers, Merrill Lynch, and many banks.

Interest rates

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Hard landing

Article Abstract:

Japan finds itself grappling with an economic recession and a decline in banking, securities and real estate markets. Part of this financial crisis is attributed to the heavy commercial and consumer lending pattern that developed in the 1980s, creating a money supply problem.

Recessions

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Bankers' embrace: Japanese securities firms

Article Abstract:

Japan has asked its large commercial banks to rescue its failing small brokers, and the banks want some securities privileges in return. A new law gives banks limited rights, but banks and securities firms are arguing over further underwriting and equity-broker rights.

Securities law

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