Volume 36, Number 6 · April 13, 1989
The Debt Addiction
By Felix G. Rohatyn
A series of congressional hearings is now looking into various aspects of the nation's financial markets. These hearings occur at a time when confidence in the integrity of the nation's financial system and in the ability of the economy to sustain itself in an increasingly competitive world seems steadily to be declining. Especially since the stock market crash of October 19, 1987, confidence has been eroding in some of our most important financial institutions, which many in American society now view more as parasites on the economy than as forces contributing to its growth.
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