More heat than light
FRICTION-FREE capitalism may be the cyberspatial dream of tomorrow. But today's version remains a very noisy business. Far from the authorities' hopes for a quiet, mutually agreed settlement, the battle for control of what may become Europe's largest bank has grown louder as it has neared its conclusion.
This article appeared in the Finance & economics section of the print edition under the headline “More heat than light”
From the August 7th 1999 edition
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The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
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Why everyone wants to lend to weak companies
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American veterans now receive absurdly generous benefits
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Nobody is to blame. Everyone suffers
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