BUSINESS: The fall of Drexel Burnham brings a money-mad era to an end
The most powerful firm on Wall Street in the Roaring Eighties was at the center of a gold-rush culture that bankrolled corporate raiders and often seemed consumed by vanity, ego and greed. Drexel vanished almost overnight last week when its parent company, a victim of the very junk-bond market that Drexel had created, filed for bankruptcy. The firm's legacy is a debt-laden corporate America and a backlash against excess.
WORLD: East and West agree on a process to unify Germany
On both sides, the cost of...