According to the NY Times the pine-accented Manhattan
outpost of Norway’s biggest bank, high in a Midtown skyscraper, is an unlikely
shelter in a global financial storm.
The bank, DNB, like its home country, has experienced a rush
of money from American investors looking for safety while they wait out the
debt crisis in Europe and slowing economic growth in America and China. Just
about every day, the front desk receptionist at DNB takes cold calls from
investors wanting to buy Norway’s bonds or some other asset tied to
Scandinavia’s healthy economy.
“A few years ago, these people wouldn’t have known where
Norway was on the world map,” said Clifford Queen, a DNB bond trader in New
York….
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