“They particularly don’t want monthly statements or any other mail ...
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
“They particularly don’t want monthly statements or any other mail sent to their home countries,” noted Fortune in 1982. “Their accounts at places like Morgan are labeled ‘hold mail.’ They drop by in person from time to time to look at the statements.”15 By extreme estimates, commercial banks were booking more in deposits of flight capital than they extended in new Latin American loans, making them net borrowers from the region.
chapter: 32. Samba