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Facing the Invasion of the Banks’ Business by Mutual Funds and Managing the Process of Change

In: The Commercial Banking Handbook

Author

Listed:
  • Dimitris N. Chorafas

Abstract

The railroads were the first means of transportation in history which did not depend on muscular power. After a difficult start in the 1830s, railroad companies became rich and powerful — so powerful and bigheaded that they did not bother to watch out for the new means of transportation based on internal combustion engines which eventually took away from them their most lucrative customers, the passengers, and a good deal of the freight.

Suggested Citation

  • Dimitris N. Chorafas, 1999. "Facing the Invasion of the Banks’ Business by Mutual Funds and Managing the Process of Change," Palgrave Macmillan Books, in: The Commercial Banking Handbook, chapter 5, pages 101-126, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37908-4_5
    DOI: 10.1057/9780230379084_5
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