Vol. 33 No. 4 - The Messenger - January 28, 1990
Prophecies for the 1990s
III
by
Elizabeth Clare Prophet
1
My Vision of the Four Horsemen: A Prophecy of Returning Karma
I think that I have the most unpopular role in the New Age. My calling is to be a prophet of God. Prophet comes from the Greek prophetes, literally “to speak for,” hence a messenger.
In the spring of 1961 the Ascended Master El Morya directed me to go to Washington, D.C., where he would train me through Mark L. Prophet to be a Messenger for the Ascended Masters. And so Mark, himself a Messenger at the time, having been trained by El Morya throughout the 1950s, was the instrument of the Master’s tutoring of my soul until 1964. That Easter Saint Germain anointed me and gave me the mantle of Messenger for the Great White Brotherhood and Prophet unto the people in the service of the Lord God and his emissaries.
The Great White Brotherhood consists of all those who have reunited with God in the ritual of the ascension. They are referred to in the Book of Revelation as the saints robed in white who come as a “great multitude, which no man could number, of all nations, and kindreds, and people, and tongues.” <1> The term “white” describes the great aura of Light that surrounds them. It is written that they have “washed their robes, and made them white in the blood of the Lamb,” <2> meaning that they have transmuted their karma and purified their souls; and so they wear the Deathless Solar Body, that garment that is the wedding garment. And they surround the throne of God.
Those who arise and attain union with God are not from any one school of thought, time, region, race, religion or profession. They come as devotees of Light who have served God’s people on earth, served the Lord in his Word and his Work, and are freed from the wheel of rebirth, having balanced their karma.
The Ascended Masters have mastered life in time and space by controlling their thoughts and feelings, their words and actions. They have brought themselves by many means (whether by any religion or none, it doesn’t matter) into alignment with the Spirit of the Lord, the Spirit of God, and they have walked with him. At the conclusion of their lifetime they have laid aside their physical garments, their four lower bodies, and entered in to the fiery coil of the ascension by which their souls were assumed into the plane of the I AM THAT I AM.
The Ascended Masters are one with God. They are extensions of God, as are the Archangels and the Elohim. They are his emissaries who deliver to us his teaching. And they are not only our teachers, but they are also our brothers and sisters who have walked the Path of the ascension before us.
Those who would misunderstand this teaching willfully or ignorantly say that we worship many gods. There is only one God, one I AM Presence, one Light, one Flame and one divine spark. This Presence is individualized for every one of us in time and space.
A Message from Your Mighty I AM Presence
Above you now is your Mighty I AM Presence, or Inner Buddha, and beneath that is your Holy Christ Self, or Inner Christ. In the Chart of Your Real Self, which is published in my books, you can see your I AM Presence as the upper figure and your Holy Christ Self as the middle figure. The lower figure in the Chart is you standing in the violet flame. When we are able to assimilate the Inner Christ, we become anointed by that middle figure in the Chart and we walk the earth in grace and in Light. And those who have inner sight can see that Light in us and know that we are climbing the highest mountain of being.
It is rare for anyone to walk the earth in the fullness of his Mighty I AM Presence because the Mighty I AM Presence is the absolute perfection of God. And therefore Jesus the Anointed One was called Jesus the Christ, Christos, from the Greek, meaning “anointed” of the Light of the Sun of God, the I AM Presence.
And if, at the conclusion of this life, we have fulfilled the Law and the Love of God and his Wisdom, we reunite with the I AM Presence. That union is defined as the ascension. We are assumed into that body of Light because the physical vehicle we wear cannot contain that God. When we ascend, we are called to higher octaves and higher worlds of perfection, where the golden ages we remember are in progress.
I come, then, as the Messenger of your I AM Presence, the one Lord who has broken his Body universally for each of us. Time and space make us see many raindrops, but when we get to eternity we see one River of Life. So the one-times-one-times-one manifestation of your God with you, of your I AM Presence and the threefold flame of the heart, still equals one. Hear, O Israel: the Lord our God is one Lord. <3> Let us commune in that Lord today.
When I deliver the message of God and of the Great White Brotherhood, I first give you their prophecy. But since the prophecy may be unbelievable or incomprehensible because it doesn’t agree with what we see on TV or read in the newspapers or with what our teachers and pastors and priests and rabbis have told us, I take the naked truth and confirm it with knowledge of other disciplines.
I relate it to politics, to military strategy East and West, to the prophecies of Nostradamus, to the warnings of Mother Mary at Fatima and Medjugorje, Yugoslavia, and to astrology itself, which tells the tale of our returning karma as the handwriting in the skies. <4> And so I give you this prophecy in the context of explaining to you how and why it could be reasonable, it could be possible, it could be real.
Prophecy is easy to receive and difficult to deliver. It is not unusual for a people to reject its prophets, persecute them or totally deny the message, given the state of their karma and their national psychology. The word of the prophet is always to challenge corruption wherever it is, to challenge unreality, to pierce the veil and show what is real. The people of Israel and Judah ignored the prophets in their midst. And the price they paid was the destruction of their cities and exile into Assyria and Babylon. <5>
I ask you, then, to hear me through to the end. It is perfectly all right if you disagree with me. I have no desire that people believe everything I say. I would like you to maintain your own separate person and identity and evaluate and analyze what I am saying; put on the shelf what you disagree with or throw it out entirely, but hear me to the end so that you will have the message. Once you have it, you can pray directly to Archangel Michael and the Lord God and ask them to come and teach you through your own heart and show you the reality or the unreality of what I am saying.
I trust that you will not become angry with me but that you will merely listen with your inner ear and with your heart and contemplate these things as you observe the scenes of the times.
Prophecy is not psychic prediction. Prophecy is exhortation. It is teaching. It is admonishment. Prophecy comes in the context of free will, never with finality, so that the sons and daughters of God are still free to turn it back.
Prophecy means that God is showing you what will happen to you personally or to the nations if you do not come into alignment with his will and his law and forsake your disobedience to him. If you act in time and heed the warning, then all will go well for you. If you do not, that which is foretold in the handwriting on the wall will come to pass. As men and nations sow, so they reap. <6> If you do not bend the knee before your God, nothing will stand between you and the inexorable law of karma, and therefore what is scheduled to descend will descend.
The great mitigating factor of prophecy is our calling upon the name of the Lord and our use of the gift of the violet flame from the heart of Saint Germain. When we invoke the violet flame and the other six rays of God, we can inject transmutation into the polluted planetary stream. This is our answer to the pollution of the environment, the pollution of the consciousness of the people, the pollution of our physical bodies and our food.
The violet flame is a way out. And so I have produced four 90-minute violet flame cassettes, Save the World With Violet Flame! by Saint Germain 1-4 (along with booklets containing all the words). In addition, I have released more than a dozen cassettes that you can decree along with. <7>
Therefore, prophecy is not final and we are not fatalistic about it. It does not have to happen. There does come a time, however, when opportunity for change runs out–when the cycles of returning karma are upon us and nearly physical. At that moment, when we see that the world and its people have not turned around and have not changed, we can be concerned that these prophecies may become physical. “But of that day and that hour,” wrote Mark, “knoweth no man, no, not the angels which are in heaven, neither the Son, but the Father.” <8>
The only joy I have in giving you this message is to know that if you receive it, you still have time to invoke the law of change, the science of alchemy through the violet flame, for yourself, your family, your community, your nation and our world.
The Four Horsemen: September 1986
First of all, I would like to give you the vision that the Lord God gave to me in September 1986, just before we moved our headquarters near Malibu, California, to Park County, Montana. As Saint Germain stood at my side, God showed me the Four Horsemen of the Apocalypse. Let us read directly from scripture to determine who these Four Horsemen are and what they portend.
In the Book of Revelation, the last book of the New Testament, chapter 6, we read: “And I saw when the Lamb opened one of the seals, and I heard, as it were the noise of thunder, one of the four beasts saying, Come!” <9>
The Lamb is before the throne of God, and guarding this throne are four Cosmic Beings of such dimension and God consciousness as to be beyond our imagination. They are called the Four Beasts. These four Cosmic Beings are the guardians of the four quadrants of Matter in time and space. The four quadrants are the etheric, mental, emotional and physical bodies of planets and their people, which correspond to the four elements: fire, air, water and earth. The Four Beasts are described in Revelation 4 as the Lion, the Calf, the Man and the Flying Eagle.
One of the Four Beasts says, “Come!” And he is speaking to the first of the Four Horsemen. As he gives the command “Come!” John says, “And I saw, and behold a white horse: and he that sat on him had a bow; and a crown was given unto him: and he went forth conquering, and to conquer.” <10>
The Four Beasts, or the four Cosmic Beings, are sending forth four riders on four different-colored horses. These riders are the harbingers of personal and planetary karma. As they ride they deliver the karma of past misuses of God’s Light and past disobedience to the laws of God. Revelation continues:
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And when he had opened the second seal, I heard the second beast say, Come! And there went out another horse that was red: and power was given to him that sat thereon to take peace from the earth, and that they should kill one another: and there was given unto him a great sword. And when he had opened the third seal, I heard the third beast say, Come! And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine. And when he had opened the fourth seal, I heard the voice of the fourth beast say, Come! And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth. <11> |
When God first showed me these Four Horsemen, the thunder of their hoofbeats preceded them. They were moving toward me in a straight line. Those nearest me signified imminent karma; those at a greater distance signified that which was yet to be.
I had the impression that their crisscrossing of the United States would encompass a five-year period. But we know that the days of the Lord’s prophecy can be shortened or lengthened for the elect’s sake <12> by the Holy Spirit.
The Four Horsemen are cloaked. I cannot see their faces. They are leaning over their horses, man and beast one as they gallop through the night. The night is bright. It is illumined by a full moon, whose magnetic pull on the emotions signifies that the astral bodies of mankind are vulnerable to their karma. But despite the brightness of the night, the riders are dark silhouettes against an age of spiritual darkness that is illumined only by the borrowed light of materialism, sensual pleasure and a technology of which the people are not the masters.
The Four Horsemen represent the four lower bodies of a planet and a people–each one measuring and empowered by the very karma they deliver upon the nations.
When I first beheld them, the Four Horsemen were well on their way and had been for some time, whereas John wrote his vision at the moment of the opening of the first, second, third and fourth seals. So as I see them, they are descending from other dimensions into the nexus of history. Karmic history, rather than Revelation 6, now dictates the order of their appearing.
The first horse I saw was not the white horse as noted by John but the black horse, the third in his sequence. This immense and awesome creature was 12 feet from me, and his coat shone a black-silvery-green in the moonlight. This horseman is regarded as the one who delivers famine upon the earth, and so he does. But famine comes through economic problems as well as adverse weather conditions and improper food distribution. As I watched, Saint Germain explained that the role of this horseman was to deliver the karma for the abuse of the economies of the nations.
The voice “in the midst of the four beasts” sounds like an auctioneer in the marketplace auctioning off our wheat, our barley and our grains, the staff of life: “A measure of wheat for a penny, and three measures of barley for a penny.” And the voice warns us not to hurt “the oil and the wine,” for we need both the wine of the Spirit (Father) for our spiritual life and the oil of the earth (Mother) for our material existence to keep the gears of civilization running.
So the black horseman delivers the karma of the manipulators of the economies of the nations and of the abundant life God gave us. The scarcity of commodities prophesied shows that the value of the people’s sacred labor, hence their self-worth, is being compromised by those who make merchandise of men, those who take the profits that belong to the farmers, the laborers and the working people. I will give you an expose on the manipulation of the American farmer in part 2 of this series. The ultimate result of this manipulation by the archdeceivers of mankind will be world famine.
According to The Interpreter’s Bible, the prices for wheat and barley quoted by the voice “were famine prices.” The Revised Standard Version translates the sentence as “A quart of wheat for a denarius, and three quarts of barley for a denarius.”
“A denarius was a small silver coin which was approximately equivalent to twenty cents, and was the ordinary wage for a day’s labor,” says the Interpreter’s Bible, “while a choenix, or quart, of wheat was a day’s ration or allowance. The price for wheat, then, was quite exorbitant, probably eight to sixteen times normal; the price for barley was likewise far out of line.” <13>
The black horseman is the first to deliver his karma into the physical octave. The second horse in my vision is the white horse. “And he that sat on him had a bow; and a crown was given unto him: and he went forth conquering, and to conquer.” At this point in history the white horse represents the United States engaged in wars small and great outside of her borders.
The third horse is the angry red horse breathing fire, right on the tail of the white horse. “Power was given to him that sat thereon to take peace from the earth, and that they should kill one another: and there was given unto him a great sword.” In this vision, the red horse represents the Soviet Union and her amassing of nuclear weapons and armies.
The fourth horse is the pale horse. “His name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth.” The pale horse is not right behind the other three but at a great distance. His karma is not yet due.
The pale horse comes through famine, plague, war, AIDS, cancer, new viruses, suicide, rock music, drugs, alcohol and nicotine, even sugar as a drug–all things, actions, substances that in this age lead either to slow, sweet death or to sudden cataclysm, economic collapse or nuclear war.
The Black Horse Rides
More than two months after I received this vision, on Thanksgiving 1986, Saint Germain said:
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Economic debacle is foreseen. Prepare. Setbacks will be sudden. Be not lulled by the heyday. Many Band-Aids upon the economy, the money system, the banking houses. These will not prevent the collapse of nations and banking houses built on sands of human greed, ambition, and manipulation of the lifeblood of the people of God. For they shall not prevail who have built their empires on the backs of the children of God who bear in their bodies the very Blood of Christ. The people, then, who bear that Light may no longer be used as foundation stones for the Cain civilization.... Seek ye first the kingdom of God and his righteousness. Seek ye first to live, to endure, to survive the age. And know that it is possible to live through the worst of prophecy. I may speak it, but I am not the origin of prophecy! Every living soul upon this earth and fallen angels and godless ones–all are harbingers of that which must descend. For the law of karma is inexorable, irrevocable, saving where the violet flame, the sacred fire, does consume [mankind’s karma]. <14> |
In February 1987 Saint Germain said in Minneapolis:
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My hand is raised now, for it has been raised by Keepers of the Flame who have given to me a mandate and a day’s vigil of violet fire. I, therefore, raise the hand before the oncoming black horse. I raise my hand, beloved, and I ask you to do likewise in your prayers, saying, “Thus far and no farther! God in me and in all of Cosmos is the Resurrection and the Life of the divine economy on earth!” Remember the twinkling of the eye of God. It is the eye in the capstone of the pyramid and it is on your dollar bill. See it well. It is the key to the healing of the economies of the nations and the defeat of the karma-bearing black horse. <15> |
The Ascended Masters are great intermediaries. They have chosen to stand between mankind and their oncoming personal and planetary karma. And this they can do by establishing a tie with those of us who are embodied as their students, if we allow ourselves to be the instrument of their release of Light.
We who are their students have also chosen to go to the altar of God day after day and to invoke that Light that will stand between the earth and returning karma and between the elementals and the tremendous burdens they bear for man’s pollution of the environment. We invoke the Light of God to hold back that returning karma and buy time for the Lightbearers to bring these teachings to the many and to the millions so that they might realize the God Presence within them and begin to expand the divine spark in their hearts. The embodied students of the Ascended Masters desire to continually act as intercessors and mediators with the ascended hosts.
By September 1987 our headquarters had moved from Malibu, California, to the Royal Teton Ranch in Montana, bordering on Yellowstone National Park. I was at the altar of our chapel there and I was conducting a vigil of invocations and prayers for the healing of the economy. As I looked up I saw that the black horse was no longer 12 feet from me but had reached me. He was directly in front of me.
I raised my right hand and called to Almighty God to put his right hand over mine to stop the black horse, whereupon the black horse reared up on its hind legs and remained frozen in his stance by the Right Hand of God. That night I knew in my heart that the moment the horse came down, there would be a crisis in the economy.
I conducted a four-day conference in New York City from October 1 to 4, 1987. On the night of October 3, Saint Germain spoke regarding the ride of the black horse: “Thus, the ‘spiritual wickedness in high places’ of this city...is a manipulation in money matters beyond conception. And therefore I say, Woe! Woe! Woe! Let the judgments descend upon those who manipulate the abundant life of a people of God and subject them to a slavery untold far beyond that of the Egyptian taskmasters!” <16>
Now, the pronouncements of the woes that we read in the Book of Revelation mean “May your karma descend.” That is what Saint Germain was saying to those who manipulate the money and the economy of the people.
In the very midst of this dictation Saint Germain was overshadowed by the Lord God and there was a tremendous step-up in the light and vibration. And the Lord God himself spoke in New York City and said:
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And the golden-calf civilization does go down! And the Cain civilization is judged! For no longer is the Cain civilization protected by the mark of Cain. It is no more. And therefore, let the fallen ones know that the hour is come that they must pay the price for the shedding of the blood of the holy innocents and of the sons of God and of the prophets and of the Christs. Therefore, let them tremble! For I come into their citadel of international power and moneyed interests. And I AM, of the Lord God, do declare unto you that through my Archangels they shall know the judgment. <17> |
That was Saturday the third of October; on Tuesday the sixth, the market plunged 91.55 points, ending a five-year bull market.
On Wednesday, October 14, awakened in the wee hours of the morning, I saw a change in the position of the black horse. His forelegs touched the ground and the sight of it sent through me a wave of terror. He touched the ground a number of times and reared up again. On that day the market dropped 95.46 points, the biggest daily drop since World War II, and on Friday the market dropped 108 points.
At 3 a.m. EST Monday, October 19, I was awakened by Saint Germain. I saw the black horse and I did not want to see him. I saw him come down on all four hooves, race around me and go beyond me, the white horse galloping after. There was no stopping either of them. This scene was repeated again and again like a replay as I lay there in those pre-dawn hours, my Christ Self making certain that I would not block out the vision.
I knew that the karma of the economies of the nations had descended. And that war would be next. On that day the market dropped 508 points, 22.6 percent, the biggest drop in history, and the United States destroyed two Iranian oil platforms, escalating the crisis in the Persian gulf. The market had fallen only 12.8 percent during the crash of October 28, 1929, that started the Great Depression.
That same night, October 19, in Toledo, Ohio, the Divine Mother who is known as Vesta stated:
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This day does mark, surely, a turning point in the nations. Can there be a regrouping of forces? Can there be a rise again? Yes, there can be a rise again, beloved, but never as steady as before. Thus, the sudden setbacks are experienced. Prepare, then, for there is truly a way and a path to endure and to survive unto thine own Ascension in the Light. Therefore, seek the path of reunion with God and know that I, Vesta, AM with you. <18> |
The Economy Is Vulnerable
Since October 19 the market has rallied and even exceeded its pre-crash highs. Regardless of the rise, the signs of the times and the handwriting on the wall do not augur well for the economy. The United States and international economies have already demonstrated that they are vulnerable to a crash and a depression. Inside sources say that some people in the banking and government circles are trying to put a good face on the economy. But in private, most of them are concerned or in a state of panic–and with good reason.
The long-standing debt problems have not been and almost certainly will not be solved, starting with the debt bomb–the trillion or so dollars that developing nations have borrowed from Western banks. The debtor nations can’t afford to pay their debts and the lenders can’t sustain the losses related to nonpayment. When, not if, the liquidation begins, it will herald an economic crisis without equal in recorded history.
In the United States an arsenal of debt bombs is waiting to go off at any moment: the farm debt, the energy debt, the consumer debt, the corporate debt and the national debt. These debts are like astral beasts that hang over the people–the people who owe this money to the bankers and to their governments. This irresponsible lending and borrowing of money is the siphoning off of the lifeblood of the people.
It is clear that there is just too much debt for the United States economy to bear. But what is not clear is when and where the debt liquidation will begin. Remember that all debts are debts of karma. So when money is owed nation to nation, or to the banking houses, or to one another, it increases our individual and personal karma. That is why it is always good to pay as you go and not to be caught in the traps of the fallen angels.
One longtime banking insider believes that the debt liquidation, and hence the crash, will start right in Wall Street and the banking industry. His analysis goes like this:
The economy is now saturated with debt. Consumers are reaching their limit of borrowing. And the national debt is beyond the limits of manageability. But the most acute problem lies within the banking community and Wall Street. During the 1980s Wall Street made most of its money through mergers and acquisitions rather than through the sale of stock. In fact, in the late 1980s, stock sales dropped to only 17 percent of the total Wall Street revenues, compared to 50 percent in 1970.
But buying and selling companies can’t go on forever. It is profitable in the short run but devastating to the economy in the long run because it adds debt without a commensurate addition of assets. Not only does the mergers and acquisitions market hurt the economy by creating debt that must be paid, but it is also drying up. After the crash of October 19, 1987, profits from buying and selling stocks dropped even further due to a low trading volume.
The brokerage houses cannot cut their expenses simply by laying off people. Many of them purchased fancy buildings and expensive computer systems in the 1980s that they are still paying for.
I delivered this lecture on May 21, 1989. As I prepare the manuscript for print, we see confirmation of this prophecy in the news of the forced resignation of Peter A. Cohen, chairman of Shearson Lehman Hutton. Newsweek reported on February 12, 1990, that Cohen built Shearson into the nation’s second largest securities company by buying Lehman Brothers Kuhn Loeb and E.F. Hutton. But Shearson, under Cohen’s leadership, paid nearly $1 billion for Hutton “on the premise that the retail brokerage business would grow–even after the stock market crash in October 1987,” Newsweek reported. “When trading went into a tailspin, the combined firm was left with massive overhead costs for offices and computers that ate up profits.” <19>
In the past, Wall Street firms and the big New York banks have been able to stay one step ahead of financial disaster by thinking up something new to buy or sell, but now they have run out of ideas. And that’s why the panic has already set in. They’re between the devil and the deep blue sea: a high and rising level of debt on one side and shrinking markets on the other. They can survive as long as they keep refinancing their debt, but the end is in sight. The great debt liquidation could begin right in Wall Street itself.
We have already started to see the fulfillment of this prophecy. Although it is difficult to mark a single point where the “great debt liquidation” began, it may have indeed been on Wall Street.
The Wall Street Journal declared in a headline to a February 14, 1990 story announcing the demise of what was once Wall Street’s most profitable firm: “Wall Street Era Ends as Drexel Burnham Decides to Liquidate.” The Journal reported: “Drexel Burnham Lambert’s remarkable journey from Wall Street mediocrity to junk-bond powerhouse to admitted felon ended last night when the securities firm’s parent announced plans to file for bankruptcy....Drexel officials said the firm’s assets will be liquidated and it will cease doing business.” <20>
Although the financial markets did not react noticeably to the announcement, Drexel’s fall is likely to have an enormous impact on the economy. Associated Press financial writer Rick Gladstone wrote, “The effect of Drexel Burnham Lambert Inc.’s stunning decline reaches like an octopus beyond Wall Street and junk bonds, potentially threatening many businesses that depend on financial markets to raise money. The Drexel bankruptcy filing could inject more sellers into the already depressed junk bond market which the firm dominates, creating a confidence crisis that might spread into stocks, higher-grade corporate debt and other securities.” <21>
The story goes on to say that, according to some financial strategists, “banks, insurers, pension funds, mutual funds and other investors who bought junk bonds because they promised such high rates of interest could wind up owning nearly worthless pieces of paper.” <22>
N.B.: “Prophecy for the 1990s III” is based on a lecture given by Elizabeth Clare Prophet May 21, 1989, Sheraton Centre Hotel, New York, updated for publication in the 1990 Pearls of Wisdom.
Throughout these notes PoW is the abbreviation for Pearls of Wisdom.
1. Rev. 7:9.
2. Rev. 7:14.
3. Deut. 6:4.
5. See II Kings 17:1-24; II Chron. 36:1-21; Jer. 25:1-11.
6. Gal. 6:7.
8. Mark 13:32.
10. Rev. 6:2.
11. Rev. 6:3-8.
12. Matt. 24:22; Mark 13:20.
13. George Arthur Buttrich et al., eds., The Interpreter’s Bible, 12 vols. (Nashville, Tenn.: Abingdon Press, 1951-57), 12:412.
14. Saint Germain, November 27, 1986, 1986 PoW, Book II, pp. 647-48; Saint Germain On Prophecy, Book Four, pp. 207-8.
15. Saint Germain, February 22, 1987, 1987 PoW, Book I, p. 132.
16. Saint Germain, October 3, 1987, 1987 PoW, Book I, pp. 484-85.
18. Vesta, October 19, 1987, 1987 PoW, Book I, pp. 544-45.
19. Larry Reibstein and Carolyn Friday, “Open Season on Wall Street,” Newsweek, 12 February 1990, p. 38.
20. “Wall Street Era Ends As Drexel Burnham Decides to Liquidate,” Wall Street Journal, 14 February 1990, p. 1.
22. Ibid.
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