Drexel’s Bankruptcy
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The demise of Drexel Burnham Lambert, the L.A. Raiders of Wall Street, should come as no surprise to anyone; much less the employees. Were they not aware of the dynamics that made their company what it is?
Oliver Stone’s popular movie summed it up pretty good; “Wall Street” was the training film for the company that put thousands, no, probably millions of Americans out of work; many of them with nowhere to go but the streets.
Southern Californians may mourn the loss of one of their own, but then Southern California, home of the biggest phone scams (precious metals, land speculation, toner), irregular employment patterns (try collecting if you’re a struggling actor or writer on a payment-deferred movie deal), has always offered more promise than goods. You can’t eat a movie. You can’t wear a Stealth bomber.
New Yorkers are probably using a variation of their infamous slogan--”Money talks, Drexel walks.”
FREDERICK CLEVELAND
Hollywood
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