“This is a watershed event, reminiscent in...

“This is a watershed event, reminiscent in many ways of General Motors’ approach to Toyota a few years back to learn better management and manufacturing methods. . . . an event like this really drives it home. Not too long ago, Bank of America was the world’s largest bank.”

--William J. Barnds, president of the Japan Economic Institute of America, on the agreement by nine Japanese banks to aid BankAmerica as a symbol of Japan’s preeminence in world financial markets.