Volume 34, Number 19 · December 3, 1987
What Next?
By Felix G. Rohatyn
The market convulsions of the last few weeks have shaken the world. We are still far from understanding exactly what happened and why; but we know that without the intervention of governments a serious financial crisis would have gone out of control. For the moment they have succeeded in stabilizing the situation and we may have bought the time, and created the political climate, to deal with some of the causes of these convulsions. We are still facing, however, an extremely volatile and dangerous situation.
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