Some two thousand members of the North Texas business elite once gathered for a black-tie gala to celebrate the grand opening of a banking giant’s new headquarters. InterFirst Corporation was moving to the newly built InterFirst Plaza, a seventy-two–story skyscraper that remains the tallest building in Dallas nearly forty years later. As partygoers feasted on shrimp high above downtown, a city councilwoman flipped on a set of lights that bathed the outline of the building in neon green.That September 1985 event demonstrated the heights that the city’s finance industry had scaled over the previous few decades. Area bankers had grown prosperous by lending to the oil and gas and real estate industries, and Dallas was home to three of the country’s twenty-five largest financial institutions.…
The post Does Dallas’s Banking Boom Portend Another Eighties-Style Crash? appeared first on Texas Monthly.
Read: Read More