There is a real logic to [the Morgan-Bank One merger]. The only thing I would wonder about is might a competing bid come in.
The Federal Reserve system has been very much a lucky passenger in this growth, ... It's the bond market, through the volatility of longer-term interest rates, that is allowing the economy to continue to expand in a relatively stable manner, and with a decreasing rate of inflation.
Land rush may be too strong a term, but we're seeing more and more trying to stake out territory outside their branches.
Banks have been playing around with in-store branching for over 30 years.
My sense is, whatever happens, there's going to be a court challenge.
Most banks haven't had those overseas losses. It would be hard for one bank to push up their rates if no one else is.
A lot of folks just don't have the income to handle repayment plans, or they'll start out under a plan and a few years down the road, they'll get into some trouble and not be able to complete it as envisioned.
In some ways, it will start to look more like Merrill Lynch, which is very strong from a retail standpoint, and also one of the real leaders in the institutional side of the business.
On all fronts, the bill appears to be far from being greased for passage.
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