Rohatyn is an accomplished hypocrite; as Michael Thomas puts it, he pounds the pulpit with one hand while endorsing checks with the other. His temperament is authoritarian and secretive; his investment banking career has been entirely consumed with giant mergers (no wonder he wants a new RFC; his Wall Street finances only deals, not expansion of capacity); his public career has been one of imposing austerity on New York City (the austerity program of 1975 was clearly a rehearsal for the broader austerity programs of the 1980s and 1990s). Felix's mentor, Andre Meyer, was the inventor of the modern buy-and-liquidate school of financial predation; Felix himself put together ITT with Howard Geneen; and Felix's fees were what inspired 80s hotshots like Joe Perella to get into the business. Doug -- Doug Henwood Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax email: <[EMAIL PROTECTED]> web: <http://www.panix.com/~dhenwood/LBO_home.html>
