As investors rediscover that the Western world still moves on oil and gas, takeover frenzy has swept this city of corporate headquarters.

The high-yield, high-risk bonds helped to fuel the takeover frenzy that transformed corporate America in the last decade.

And many had clearly been buying stocks on the assumption that a takeover frenzy would continue indefinitely.

By the mid-1980's, Drexel was the nexus of the nation's high-yield bond boom and takeover frenzy.

"And the takeover frenzy that we have been in the last decade will continue in a somewhat different form."

Then, in the 80's, a takeover frenzy reignited the issue.

L.J. 29, 33 (1994) (noting the takeover frenzy of the 1980s).

But the sharp drop in Dime's stock price is a warning that this takeover frenzy may not create easy riches for investors.

The reason, of course, was the takeover frenzy that swept corporate America.

The current takeover frenzy has fueled by the revival of the market for high-yield junk bonds.