Word: felix
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...N.Y.S.E. closes two hours early with a minute change in the Dow (up .33 points, to 1950.76). Pondering the incredible week, Manhattan Investment Banker Felix Rohatyn, a staunch critic of Reagonomics, says he sees a new world in which governments are "held hostage" by the financial markets. He adds, "We really do not know what we've created. It's high tech and it's transnational and more powerful than anything we could ever have imagined...
...domestic marketplace, aggravated the trade deficit by its lack of motivation to sell products abroad. Consumers added to the trouble by developing a ravenous taste for imported goods and credit-card spending. All told, the roaring '80s have been a time of refusal to confront limitations. Declares Investment Banker Felix Rohatyn: "In an act of the ultimate financial cowardice, we have attempted to pass on to our children the cost of this behavior by borrowing from tomorrow...
What worries many seasoned professionals is a dangerous contradiction: a bullish investment fever at a time when real-life economic problems like the trade deficit are getting worse. Says Investment Banker Felix Rohatyn: "If the reality doesn't get better but the myth becomes more and more insane, then the correction is going to be more and more violent." While no direct tie exists between stock-market crashes and depressions, a shattering of Wall Street's confidence would deliver a sharp psychological blow to the rest of the population. Adds Rohatyn: "People will only wake up when one morning they...
Oates' sharpest focus is on Daughter Enid, 15, a model student, talented pianist and promising gymnast. On page one, the girl locks herself in the bathroom and swallows 47 aspirins. The reason is a recent sexual encounter with an uncle. Felix Stevick is an ex-prizefighter, a local hero with enough low animal cunning to trade in real estate and keep a dirty secret. Incest later turns into a full-blown affair, documented in harsh and steamy detail...
...among a few large companies -- a shift toward oligopolies that could already be stifling the very competition that deregulation was supposed to stimulate. Another ominous trend is the increased evidence of corporate corner cutting when it comes to safeguarding the health and safety of workers and customers. Investment Banker Felix Rohatyn, writing in the New York Review of Books, bemoans a "climate of deregulation pushed to dangerous extremes." Result: the beginnings of a blistering debate about the impact of the decontrol era, and a movement to re- regulate. In a growing number of cases, Congress is viewing too much corporate...